Cipla, an Indian pharmaceutical company, has declared its intent to invest an additional Rs 42 crore in GoApptiv Private Limited, a digital technology firm. This strategic move aligns with Cipla’s vision to fortify investments in future-oriented channels, aiming to expand their healthcare reach, especially to underserved populations, facilitating broader access to critical treatments, as per a company press release.
Upon finalization of this transaction, Cipla’s ownership in GoApptiv will rise to 22.99 percent on a fully diluted basis. This marks Cipla’s third investment in GoApptiv, comprising a mix of equity shares and compulsorily convertible preference shares. The prior investments by Cipla in 2022 and 2020 have notably catalyzed GoApptiv’s growth in less penetrated sectors and product lines.
Umang Vohra, MD and Global CEO of Cipla Limited, expressed, “Our long-standing partnership with GoApptiv has helped us increase penetration in underserved rural areas of India and address critical healthcare gaps where pharmaceutical coverage is limited. In this era of technology-driven healthcare, this expanded investment will help us deliver patient-centric solutions and further strengthen our digitisation agenda to drive Cipla’s next phase of growth.”
GoApptiv operates in the healthcare and pharmaceutical domains in India, adopting a ‘phygital’ model to extend quality healthcare access to rural and extra-urban regions. Their services encompass an integrated digital payment and promotional platform with a retailer reward program, digital marketing initiatives for distributors, and data-supported toolkits aiding channel partners in decision-making processes.