The Competition Commission of India (CCI) has approved the proposed acquisition of up to 100% equity shareholding in Apollo Fertility Centre (AFCPL) and Apollo Specialty Hospitals (ASHPL) by Kids Clinic India Ltd. (KCIL), the operator of the Cloudnine hospital network.
Under the proposed combination, KCIL will acquire up to 100% of AFCPL and the entire equity shareholding of ASHPL. As part of the consideration for the acquisition, Apollo Health and Lifestyle Ltd. (AHLL) will receive equity shares and optionally convertible debentures representing 9.9% shareholding in KCIL on a fully diluted basis.
The transaction also includes an investment by Arvon Investments Pte. Ltd. (Arvon), which will acquire certain equity shares in KCIL.
KCIL operates the Cloudnine chain of hospitals, focusing on maternity, gynaecology, paediatrics, and fertility care. The company has centres across multiple Indian cities, including Bengaluru, Delhi NCR, Mumbai, Pune, Chennai, Hyderabad, Lucknow, Ludhiana and Chandigarh.
AHLL operates primary care clinics and diagnostic services and is wholly owned by Apollo Hospitals Enterprise Ltd. (AHEL). AHEL is a publicly listed company, with its promoter group holding 28.02% and public shareholders holding the remaining 71.98%.
AFCPL, which is wholly owned by AHLL, is a chain of fertility clinics under the Apollo Group. It specialises in assisted reproductive treatments and reproductive medicine, offering services such as in vitro fertilisation (IVF), embryo freezing and genetic testing.
ASHPL had three business segments—Cradle, Fertility and Spectra—until June 2024.
The CCI approval clears a key regulatory step for the proposed transaction, which will bring Apollo’s fertility and specialty healthcare assets under KCIL’s ownership.
