PVP Ventures executes binding agreements to acquire 56% stake in Optimus Oncology

PVP Ventures has executed binding agreements to acquire 56% stake in Optimus Oncology (OOPL) with a clear roadmap to increase the stake to 76% over the next few years subject to achievement of certain milestones. With this acquisition, PVP has made a significant stride in its earlier announced plans to build a Technology centric global Healthcare Services platform focussing on Illness, Wellness and Care.

The transaction shall be a combination of both primary and secondary stake purchase amounting to an initial outlay of circa Rs 55 crore for an initial shareholding of 56%. The subsequent investments are subject to achievement of certain financial milestones over the next few years. The company collaborates with local hospitals to setup Oncology Centres within these partner hospitals. The clear focus of OOPL is to serve the needs of patients in Tier 2 & Tier 3 cities and towns in India. The growing incidence of cancer and lack of facilities in these areas provide a scalable and sizable opportunity for OOPL.

PVP Ventures is an India-based company, which is engaged in the business of developing urban infrastructure and investments in various ventures.