Dubai: Fresh from a listing of its shares in Abu Dhabi, Response Plus Holding will invest Dh36.5 million in India’s API Holdings, an emerging healthcare firm. This is the first investment Response Plus Holding – which provides onsite medical services for organisations - in India, and part of a wider plan to expand its visibility in that key market.
Mumbai-based API Holding is likely to be listed on the Indian market in the first quarter of next year, and the investment is touted as part of a pre-IPO funding round. API Holding is one of the largest integrated digital health platform operating under the brands Pharmeasy, Retailio, Digihealth, Docon, etc.
The owner of Abu Dhabi-based VPS Healthcare, Dr. Shamsheer Vayalil, holds 49 per cent in Response Plus Holding, while Alpha Dhabi Health has 36 per cent and Chimera Investment owns 10 per cent. VPS Healthcare owns 24 hospitals and more than 125 health centres. It also has one of the largest pharmaceutical manufacturing plants in the UAE.
As part of the regional expansion plan, Response Plus Holding will invest in Oman and Ethiopia to provide emergency medical services and operate and manage medical services and patient transportation services. The board of directors has also agreed to invest Dh10.5 million in the UAE and Saudi Arabia as part of the expansion programme.
Response Plus Medical Holding, a subsidiary of Alpha Dhabi Holding, made its market debut on September 14 on Abu Dhabi Securities Exchange’s (ADX) Second Market.