New Delhi: Abhay HealthTech on Saturday announced the acquisition of consumer healthcare products manufacturer MNP Healthcare for an undisclosed amount.
The strategic acquisition of MNP Healthcare is a significant milestone in Abhay HealthTech's expansion plans, reinforcing its presence in the OTC (over the counter) consumer healthcare sector, the company said in a statement.
According to the PTI report, as part of this collaboration, Abhay HealthTech will acquire MNP Healthcare's entire portfolio, including its brands, products, people, and manufacturing facilities, it said, without disclosing the acquisition cost.
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Apurv Modi, Co-founder and Managing Director of Abhay HealthTech, said, "MNP Healthcare brings significant manufacturing expertise and a proven track record of delivering world-class products at competitive prices."
The directors of MNP Healthcare, Mohanlal Yadav and Naveen Pathak, will join the advisory board of Abhay HealthTech, as part of the deal.
AbhayHealthTech product portfolio consists of branded consumer healthcare and wellness products, primarily in areas of routine health disruption and proactive care, expanding across key over-the-counter (OTC) categories such as rapid testing kits, hygiene, skincare, supplements, women care, baby care and children wellness.
MNP Healthcare, a subsidiary of MNP Meditech, is engaged in manufacturing medical products for leading Indian pharmaceutical companies.
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