The National Company Law Tribunal (NCLT), Chennai Divisional Bench, has accorded approval for the proposed composite scheme of arrangement involving Apollo Hospitals Enterprise Ltd (AHEL) and its group entities, paving the way for a major restructuring of its pharmacy and digital health businesses.
The scheme entails the demerger of AHEL’s identified businesses into Apollo Healthtech Ltd (AHTL), along with the amalgamation of Apollo Healthco Ltd (AHL) and Keimed Pvt Ltd with and into AHTL.
Meetings scheduled for stakeholders
In its order dated March 26, the NCLT directed AHEL to convene meetings of its equity shareholders, secured and unsecured creditors on May 16. AHL and Keimed have been directed to convene meetings of their unsecured creditors on May 17, 2026.
Building an integrated healthtech platform
AHL operates the Apollo 24|7 digital platform, while Keimed is a key player in wholesale pharmacy distribution. As part of the restructuring, AHTL will also acquire a 74.5% stake in Apollo Medicals Pvt Ltd (AMPL) from existing shareholders.
The consolidation is aimed at bringing all pharmacy and digital health assets under a single entity, creating an integrated, omnichannel healthcare platform with scale and operational synergies.
Unlocking value through separation
The restructuring is designed to unlock the intrinsic value of Apollo’s fast-growing pharmacy and digital health businesses by separating them from its mature hospital operations.
This approach is expected to provide sharper strategic focus, attract specialised investors and enable a more accurate market valuation for the new entity.
The move will also allow existing shareholders of AHEL to gain direct ownership in the restructured business, which is positioned to emerge as one of India’s largest omnichannel pharmacy and digital health platforms.
Ambitious growth targets
The management has outlined aggressive growth plans for the combined entity, targeting revenues of ₹25,000 crore by FY27.
The restructuring marks a significant step in Apollo’s strategy to build a future-ready healthcare ecosystem that integrates hospitals, digital platforms and pharmacy distribution into a cohesive growth engine.