Reliance Industries acquires Oncology Platform Karkinos for ₹375cr

“The acquisition of Karkinos will help expand the health services business portfolio of the Reliance group,” the filing stated.

Reliance’s Strategic Investment

Billionaire Mukesh Ambani’s Reliance Industries has acquired Karkinos Healthcare, a technology-driven oncology platform, for ₹375 crore.

The transaction was completed through Reliance Strategic Business Ventures Ltd (RSBVL), a wholly owned subsidiary of Reliance Industries, as per the company’s stock exchange filing on Saturday.

RSBVL subscribed to and was allotted 1 crore equity shares of ₹10 each, aggregating ₹10 crore, alongside 36.5 crore optionally fully convertible debentures of ₹10 each, totaling ₹365 crore. The acquisition was part of an approved resolution plan that canceled 30,075 equity shares held by Karkinos’ previous shareholders.

About Karkinos Healthcare

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Founded on July 24, 2020, Karkinos Healthcare provides technology-driven solutions for the early detection, diagnosis, and management of cancer. The company reported a turnover of ₹22 crore in FY 2022-23 and has partnered with approximately 60 hospitals across India by December 2023.

Karkinos is also building a 150-bed multispecialty cancer hospital in Imphal, Manipur, and aims to deliver affordable yet effective cancer care through partnerships, advanced diagnostics, and a distributed cancer care network.

Notable Investors and Partnerships

Karkinos’ previous investors included:

• Ewart Investments Limited (a subsidiary of Tata Sons)
• Reliance Digital Health Ltd (another Reliance subsidiary)
• Mayo Clinic (US)
• Sundar Raman (Director at Reliance Foundation Youth Sports and ex-COO of IPL)
• Ravi Kant (former MD of Tata Motors)

These partnerships underline Karkinos’ vision of integrating technology and healthcare to make cancer treatment accessible and cost-effective.

Future Revenue Streams

Karkinos plans to generate income through multiple avenues, including:

1. Advanced Cancer Care Diagnostics and Research (ACCDR)
2. Distributed Cancer Care Network (DCCN)
3. Corporate tie-ups for early cancer diagnosis
4. Cancer care hospitals

The acquisition reinforces Reliance Industries’ expansion into healthcare, aligning with its strategy to invest in innovative solutions that combine technology and affordability to address critical public health challenges.