RIL Subsidiary to Acquire Stake in Health Alliance Group

Reliance Industries Limited (RIL) has announced that its wholly owned subsidiary, Reliance Digital Health Limited (RDHL), has entered into definitive agreements to acquire a 45% equity stake in Health Alliance Group Inc. (HAGI) for an aggregate consideration of USD 10 million.

Details of the Acquisition

HAGI, incorporated in December 2023 in Delaware, USA, focuses on designing technology-driven healthcare solutions for underserved communities in the United States, India, and globally. The company operates at the intersection of healthcare, information technology, and innovation.

This strategic investment will enable RDHL to develop a virtual diagnostic and care platform, aimed at increasing access to healthcare for underserved populations. The deal is not a related party transaction, with no involvement from RIL’s promoters or their group companies.

The acquisition is subject to customary closing conditions and is expected to be finalized within two weeks. This move is in line with Reliance’s vision of expanding its digital health capabilities, enhancing its healthcare offerings, and furthering its commitment to using technology to improve access to healthcare worldwide. This partnership strengthens RDHL’s position in the growing digital healthcare sector, which is pivotal for addressing the evolving needs of underserved communities globally.

On December 23, 2024, RIL share price opened at ₹1,215.00, touching the day’s high at ₹1,223.20, as of 9:53 AM on the NSE.

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