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Apollo Hospitals Boosts Digital Oncology with Acquisition
business update, Health - July 9, 2025

Apollo Hospitals Boosts Digital Oncology with Acquisition

Apollo Hospitals Boosts Digital Oncology with Acquisition

With the strategic acquisition of cancer care platform Onco, Apollo Hospitals deepens its digital healthcare capabilities as it gears up for the demerger of Apollo HealthCo.

Summary:
Apollo Hospitals has quietly acquired healthtech startup Onco, which is backed by marquee investors like Accel and Rainmatter. While the financial terms remain undisclosed, sources confirm that the deal was closed in December 2024. This acquisition reinforces Apollo’s growing focus on digital healthcare and cancer care, especially as it prepares for the demerger of its pharmacy and digital platform arm, Apollo HealthCo.

Apollo Hospitals Expands Its Digital Health Footprint
India’s healthcare giant, Apollo Hospitals, has taken a strategic step forward in its digital transformation journey with the acquisition of Onco, a healthtech startup that offers end-to-end cancer care services. While the financial details of the transaction have not been officially disclosed, sources close to the matter revealed that the deal was completed in December 2024.
The acquisition marks a significant milestone in Apollo’s plan to strengthen its digital healthcare capabilities, particularly in oncology, a field that continues to see rising demand and innovation.

About Onco: Empowering Personalised Cancer Care
Founded in 2016 by Dr. Amit Jotwani, an oncologist, and Siddhartha Jain, a former VC and entrepreneur, Onco.com was designed to simplify and democratize cancer treatment by providing patients with access to expert advice, personalised treatment plans, and coordinated care services.
Over the years, Onco has built a robust ecosystem that includes:
– A virtual tumour board to provide multi-disciplinary opinions
– A care management team that supports patients throughout their treatment
– A service that links patients to oncologists, medical facilities, and diagnostic laboratories.
The platform has served over 100,000 cancer patients across India and abroad, becoming a go-to resource for people looking for trusted and comprehensive cancer support. Its services span various stages of cancer, from diagnosis and treatment to post-treatment care and second opinions.

Backed by Prominent Investors
Onco has secured more than $13 million from prominent investors, including:
– Accel (a leading early-stage VC firm)
– Rainmatter Capital (backed by Zerodha)
– Vijay Shekhar Sharma, founder of Paytm
– Alteria Capital
– Prime Venture Partners
These funds helped Onco build its core technology platform, expand its team of oncologists and care managers, and build a data-rich oncology ecosystem.

Why Apollo’s Acquisition Makes Strategic Sense
The acquisition of Onco aligns perfectly with Apollo’s broader vision to dominate the digital health ecosystem. Apollo has been increasingly investing in technology, AI-driven diagnostics, telemedicine, and remote monitoring as part of its digital-first strategy.
Here’s why the Onco acquisition is a perfect strategic fit:
1. Deep Oncology Expertise: Apollo already has a strong presence in cancer treatment with its Apollo Cancer Centres. Onco adds a tech-driven layer that makes cancer care more accessible, affordable, and efficient.
2. Patient-Centric Digital Model: Onco’s platform-centric approach complements Apollo’s digital strategy to provide end-to-end patient journeys — from consultation and diagnosis to treatment and recovery.
3. Data-Driven Insights: With Onco’s oncology-focused patient data, Apollo can now enhance clinical decision-making and personalised treatment through AI and predictive analytics.
4. Synergy with Apollo HealthCo: The acquisition happens at a vital moment as Apollo works on spinning off Apollo HealthCo, its pharmacy distribution and digital health division, into a separate entity.

Apollo HealthCo Demerger in Focus
Apollo Hospitals has been streamlining its operations and sharpening its focus on vertical-specific growth. One of the biggest transformations in progress is the demerger of Apollo HealthCo, which combines its:
-Offline & digital pharmacy operations
-Digital consultation platform (Apollo 24|7)
-Telemedicine and diagnostics
The newly formed entity will focus on tech-enabled omnichannel healthcare services and is expected to attract its investor base. Acquisitions like Onco add significant value to HealthCo’s offerings, enhancing its clinical depth, patient experience, and platform scalability.

Rising Demand for Oncology Solutions
Cancer cases in India are expected to increase greatly, with the Indian Council of Medical Research (ICMR) projecting more than 1.5 million new cases each year by 2025. Limited access to high-quality care in Tier 2 and Tier 3 cities has driven the need for digital oncology solutions like Onco.
By integrating Onco into its ecosystem, Apollo Hospitals can now offer remote cancer consultations, personalised care plans, and cross-speciality collaboration at scale — a critical value proposition for India’s growing cancer burden.

What This Means for the Healthcare Sector
The Apollo-Onco deal signals a growing trend where large hospital chains are acquiring niche healthtech startups to accelerate innovation, improve service delivery, and reach new markets. As the lines between physical and digital healthcare continue to blur, such mergers will become more common.
Startups with deep specialisation in one vertical (like cancer, fertility, mental health, or chronic disease) are becoming prime acquisition targets for larger healthcare conglomerates looking to quickly expand their capabilities.

Future Outlook
With this acquisition, Apollo Hospitals is poised to strengthen its leadership in the oncology space while driving forward its digital health mission. It also sets the stage for Apollo HealthCo to emerge as a tech-powered, patient-first healthcare platform that can potentially list independently or attract strategic investors shortly.
The integration of Onco will likely fuel innovation in care delivery, improve patient navigation in complex cases, and contribute to building India’s most comprehensive and tech-savvy oncology network.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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Indian Pharma's 2025 Budget Wishlist: Growth, Innovation, and Challenges

Indian Pharma’s 2025 Budget Wishlist: Growth, Innovation, and Challenges

From making a few reasonably priced generic medications, the Indian pharmaceutical sector has advanced to become the global center for the production of pharmaceuticals and vaccines. In addition to meeting 25% of the UK’s pharmaceutical needs, India distributes pharmaceutical items to more than 200 countries, 50% of Africa, and 40% of the US generic market. With over 60,000 products in 60 therapeutic categories and more than 500 APIs, India is the world’s third-largest manufacturer of pharmaceuticals by volume and fifteenth by value. With a focus on biopharmaceuticals and biosimilars, Indian businesses have not only increased access to healthcare around the world but have also established themselves as reliable partners in enhancing healthcare systems around the world.

Numerous measures have been taken by the Indian government to facilitate and promote innovation and development in the Pharma sector, especially in cell and gene therapies such as a boost in funding and infrastructure investments. For instance, the Pharma MedTech Sector’s Scheme for Promotion of Research and Innovation (PRIP) was introduced to strengthen research and innovation capabilities. This program has sanctioned a total spending of INR5,000 crore (about US$604.5 million) between 2023 and 2028 and supports innovative research in pharmaceutical as well as the medical technology field. These findings are likely to make the environment of India regarding research vibrant as well as more cooperative.

Despite these encouraging growth dynamics and government support, however, many challenges have to be met before the potential of this industry can be seized in the future. The available R&D funding is less than satisfactory, and state-of-the-art testing facilities, intellectual property protection, and insufficient incentives for investment in industry-wide ventures are required. So, Pharma Inc.’s expectations comprised largely of increased public healthcare funding and incentives for pharmaceutical research and development, with some tax exemptions towards more life-saving medications in this 2025 budget.

Reduction in Custom Duties for life-saving drugs
Executives in the healthcare sector stated that increasing the number of life-saving medications free from import duties and GST will help make them more affordable for patients. They want the benefit to extend to all cancer drugs. The government was pushed by hospital owners to lower customs taxes on necessary medical supplies and equipment. Depending on the kind of medication and whether it is imported or not, India has different tax rates for necessary medications.

Modification in Section 115BAB
Anil Matai, director-general of the Organization of Pharmaceutical Producers of India (OPPI), stated that expanding the application of Section 115BAB of the Income Tax Act, 1961 to businesses exclusively involved in pharmaceutical research and development, acknowledging the high-risk, long-gestation nature of R&D, and offering a 200% deduction rate on R&D expenses.
According to Section 115BAB, a corporation that manufactures or produces any kind of item or a thing that aids in conducting research to or distributing such items is eligible for a 15% concessional tax rate. According to Deloitte, businesses engaged solely in research-related activities will be eligible for a concessional tax rate under section 115BAB, rather than being limited to research pertaining to the company’s manufactured or produced goods, given that the government wants to encourage research, innovation, and development in India.

Removal of Section 194R
The Income Tax Act’s Section 194R permits businesses to deduct taxes from any type of gift or incentive and remit it to the government. In the pharmaceutical industry, it stands for drug samples that businesses give to physicians and medical facilities. The additional administrative load placed on businesses by having to keep track of smaller transactions is one of the main causes of the demand. The process is made more complicated by the requirement that the business deducts the tax imposed under Section 194R on behalf of the beneficiary, such as a hospital.
Thus, the removal of Section 194R which is marketing samples, would facilitate streamlining business operations, according to Sudarshan Jain, Secretary of, the Indian Pharmaceutical Alliance (IPA).

Other additional expectations
Furthermore, efficiency and simplicity in doing business will be achieved when Advance Pricing Agreement (APA) processes, such as fixing deadlines for quick settlement of the case, as well as making sure renewals are done within time, are free of procedural redundancies. Going ahead, the necessity of expanding public funding for health programs and incorporating the Ayushman Bharat scheme’s missing middle class is of crucial importance.
To promote innovation and investment, the industry group has also urged for removing turnover conditions for safe harbor laws for R&D and requiring deadlines for appeals, especially those handled by the Income Tax Appellate Authorities (TAA).
Further, it would be encouraging if the Union Budget restored 200 percent weighted deductions for R&D expenditures, expanded the patent box regime to include income from patents abroad, and allocated at least 10% of the National Research Fund to life sciences, according to Sudarshan Jain, Secretary, IPA.

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Krishna Institute reported a net profit of Rs. 79 Cr.
Business, Editorials, Equities, Health, Markets, Research - September 16, 2022

Krishna Institute reported a net profit of Rs. 79 Cr.

Krishna Institute reported a net profit of Rs. 79 Cr.

KIMS reported a net profit of Rs. 79 Cr., and decrease from Rs. 83 Cr. in March 2022 and Rs. 92 Cr. year on year. The revenue in Q1 FY22-23 increased to Rs. 459 Cr from Rs. 372 Cr in March 2021 and Rs. 473 Cr in June 2021. The operating profit was Rs. 137 in the current quarter versus Rs. 114 Cr. in the March quarter.

The expansion will be done using a cluster-based approach.

KIMS has entered into a definitive agreement to acquire a 51% stake in Kingsway Hospitals, Nagpur. This is one of the largest private multi-specialty hospitals in Nagpur, promoted by the Sancheti family and a few eminent doctors. The hospital was commissioned in 2019 with a 334-bed capacity, expandable to 500 beds. KIMS will pay upfront Rs. 800 crore for its 51% stake, which will be used to repay existing debt. After this infusion, the JV will still be left with Rs 150 Cr of debt.

Acquisition cost works out to be Rs 90 lakh/bed.

The acquisition cost works out to be Rs 90 lakh/bed. The acquisition will be completed by Sept. Assuming the operating leverage plays out, Kingsway hospital will have 250 operational beds with a 53% occupancy. For FY22 and FY23 (4 months), Kingsway generated Rs. 1700 Cr. and Rs. 47,500 Cr. of revenues, respectively. ARPOB stands at Rs 29,000/day and has turned EBIDTA positive within 3 years of operation.

KIMS management intends to enhance occupancy from current levels, as well as bring operational efficiencies and synergies. The Kingsway hospital’s COGS stands at 28-29% of sales versus KIMS’s 22% of sales. The management sees profitability scaling up from current levels and reaching 15-20% OPM over the next 2-3 years. KIMS currently has net cash of Rs 200 Cr. and thereby, the Kingsway acquisition will be funded through internal accruals. Currently, the payor mix stands at 80%, comprising of cash plus insurance.

The management, in its cluster-based approach, is looking forward to replicating the AP and Telangana models in the Maharashtra and Karnataka regions. KIMS plans to commercialise 1500 beds over the next 4–5 years across Maharashtra and the Karnataka region. The expansion will be a combination of inorganic and greenfield expansion. More importantly, the company will partner with local doctors and consultants in specific micro-markets to generate better footfalls and achieve a faster breakeven. KIMS will have full control of decision-making in such a partnership.

Valuations:

In June 2022, the EPS was Rs. 8.74, compared to Rs. 10.08 in June 2021. The ROCE and ROE were at 14.8% and 15.6%, respectively. The stock was trading at a P/E ratio of 31.7x. The debt-to-equity ratio was 0.18x, whereas the asset turnover ratio was 0.99x. The interest coverage ratio stood at 29.5x. The scrip is trading at Rs.1241, down by 0.2% on Wednesday.

Dr. Lal Pathlabs reported a net profit of Rs. 58 Cr.

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Dr. Lal Pathlabs reported a net profit of Rs. 58 Cr.

Dr. Lal Pathlabs reported a net profit of Rs. 58 Cr.

Dr. Lal Pathlabs reported a consolidated net profit declined 57% to Rs 58 crore for the first quarter June 30. The company had reported a net profit of Rs 134 crore in the April-June period of the last fiscal. The revenue from operations declined to Rs 503 crore in June 2022 from Rs 607 crore in June 2021. In Q1FY23, DLPL served 69 million patients and collected 180 million non-Covid-19 samples. The company declared an interim dividend of Rs. 6/share.

The diagnostic sector will experience tremendous growth.

Dr. Lal PathLabs reported healthy core business performance, driven by increased penetration, digitalization, enhanced testing facilities, and increased home sampling. Swasth fit contributed to 21% of total revenue; packaged tests accounted for 30% of sales. The company targets pre-Covid-19 level growth of 13-15% over the year and strives to double its volumes over 2-3 years.

The Indian diagnostic sector holds significant growth potential, as was evident by the industry’s response to the pandemic, and organised national brands have met these challenges without raising prices. The industry has seen the entry of many new competitors and the growth of the organised sector, both due to overall market growth as well as an accelerated shift from the unorganised to the organised segment.

The customers appreciate the certainty of quality and effectiveness that Dr. Lal PathLabs provides, which the unorganised players will not be able to successfully deliver. In the future, they will build and drive growth through organic expansion of lab and collection centre infrastructure, inorganic expansion, use of technology to improve customer experience, and provision of value-added services at one level while driving internal process efficiencies at another level to achieve productivity. On the organic front, the initiative of the creation of Hub Labs has started yielding good results, especially in the northern part of India. This will also give the capability to go deeper into Tier-II and Tier-III towns in large states like UP, Bihar, etc.

Valuations:

Dr. Lal Pathlabs, EPS was at Rs.6.2 in June 2022, down from Rs.15.74 in June 2021. The ROCE and ROE were at 29.4% and 25.1%, respectively. The stock was trading at a P/E ratio of 73.4x. The debt-to-equity ratio was 0.35x, whereas the asset turnover ratio was 1.04x. The interest coverage ratio stood at 12x. The scrip is trading at Rs.2389, down by 1.89% on Wednesday.

Everest Kanto reported a total revenue of Rs. 380 Cr.

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How co-working spaces can restart post lock down

How co-working spaces can restart post lock down.

 

Most co-working spaces are now outlining radical steps to reopen their company post lock down, maintaining participants’ health and sanitation at the maximum standard of premises. The risk and uncertainty of COVID-19 pandemic is increasing each day. Although, policy measures are in full swing to stem the dramatic effects of this pandemic, which is quickly tolling human lives. There is also little clarification as to when regular business resumes. This is well known that the lock down cannot stay in effect permanently.

 

Measures to implement:

When the lock down is ended and firms can function out of their office buildings, several innovative initiatives and procedures will need to be enforced in all working settings to take care of the possibility of contracting the infection. The organizations will have to introduce improved protection procedures higher than a conventional workplace to maintain business-as-usual and guarantee strong organizational interest into co-working work spaces.

 

Work from home:

Indian IT industry allowed workers to Work From Home according to policy order during the lock down. As a result, nearly 90 percent of workers operated from home, with 65 percent from urban areas and 35 percent from small-town areas. The IT industry moved to the Work from the home system during the lock down very smoothly offering operational continuity to consumers without reducing efficiency or profitability, shocking both major companies and customers. So several workers operating from home amid reports that a substantial portion of them will continue even once the condition returns to normal life. Companies will now need to reconsider their approach particularly in office, interior and architecture real estate, to make the segment more appealing to customers.

 

Post COVID:

When the job continues after the lock down, optimizing the use of workspace is a concern. The workplace will entail large-scale behavioural and physical room changes. Organizations would now take advantage to revaluate their working course of action to give more adaptability to their staff, particularly thinking about the advantages of profitability and commitment, This will push up the demand for co-working space.

 

Opportunities:

Risk reduction must now be an essential part of organizational decision-making, particularly as businesses follow their business continuity plans. Organizations will intend to make decent variety in the geography, expanding the opportunities for adaptable workspaces in Tier 2 and Tier 3. They may likewise observe a piece of organizations moving to Tier2 and 3 urban areas to keep away from a shutdown during emergency. Expanding activities through geographies is intended to work well with the co-working group.

 

Co-working space:

Co-working facilities have often provided an advantage in terms of cost-efficiency. The world hopes to see the quickest post-lockdown recovery. At the point when the pandemic hazard facilitates, more organizations look to continue their business. Co-working spaces is the main decision for some organizations since they are more flexible in the time of the rent agreement. Businesses cannot afford to operate from home for so long, because many of them have tasks needing a high degree of direct control that are only possible in a structured office environment. These enterprises are heavily reliant on the office facilities to work efficiently.

 

Looking on, co working spaces will continue to restructure their work environments, such as relying mostly on activity-based workplace and collaborative zones. The co-working space team will have to focus on other things, such as ramping up hygiene procedures with daily sanitization of premises, beginning shift-based jobs, simulated meetings, even sanitizing the hands of each participant entering the property, and sitting in offices in compliance with social distance norms. It may include the supply of hand sanitizers and the substitution of bio-metrics with card access.

 

Workspace administrators will have to enable participants to make the most possible use of their collective senses when allowing the use of community resources in co-working spaces since sanitation is the highest priority. They will also have to make sure that members comply with shift-based systems to eliminate the possibility of congestion. They will also be expected to establish a new regulatory structure or regulations. People should maintain social distancing and carry face masks for good effect. Co-working spaces will be required to re-plan their work areas and make sure their encounters do not lead to infection.

 

Drawbacks:

For all the undoubted upsides of co-working spaces that are primarily funded by companies, freelancers, small to medium-sized organizations and start-ups. They also have drawbacks and constraints. Besides most of them missing independent canteens they often prevent businesses from holding activities in local places. Trying to maintain these services is another problem. While several major businesses utilize co-working spaces, these drawbacks have usually driven some others away from the possibility of adopting them due to lower rentals.

 

 

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