Billionaire Gautam Adani’s group on Wednesday announced its foray into the health care related service through the acquisition of large hospitals, diagnostic chains, and offline and digital pharmacies. Adani Enterprises said it has incorporated a wholly-owned subsidiary, Adani Health Ventures (AHVL), for this purpose. A news report recently said that this is a $4-billion play on the part of Adani Group.

The subsidiary, Adani Health Ventures, would set up, run and administer medical and diagnostic facilities, health aids, health tech-based facilities, research centers and allied activities, said Adani Enterprises in a stock exchange filing.

In the filing, the group said Adani Health Ventures was incorporated on Tuesday with an initial authorised and paid-up share capital of Rs 1 lakh each, “to carry on the business of healthcare related activities including, inter alia, setting up, running, administering medical and diagnostic facilities, health aids, health tech based facilities, research centres and to do all other allied and incidental activities in this regard”.

AHVL will commence its business operations “in due course”, it added.



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