Billionaire Gautam Adani’s AEL is entering the healthcare market by establishing a wholly-owned subsidiary, Adani Health Ventures (AHVL), which will begin operations in the near future.
AHVL will have an initial authorised and paid-up share capital of Rs 100,000 (Rs 1 lakh) and will establish diagnostic facilities, health aids, health-tech based facilities, and research centres.
AEL said in a regulatory update that the company would also have a presence in other allied and incidental activities.
According to a Niti Aayog report India’s healthcare sector is growing at an annual rate of 22% since 2016 and it will reach $372 billion in 2022. The sector generates around 2.7 million additional jobs in India between 2017 and 22, with over 500,000 new jobs added each year.
According to sources familiar with the ongoing discussions with companies, Gautam Adani, Chairman of the Adani Group, is in talks with global healthcare majors for a joint industry or alliance for the Indian market, and an announcement may be made soon. The company also intends to invest up to $4 billion in this endeavour. However, no official announcement has been made by the company.