Religare Wellness acquires LifeKen Healthcare

NEW DELHI: Drug retailer Religare Wellness Ltd said on Friday that it has acquired controlling stake in pharmacy chain Lifetime Healthcare Pvt Ltd for an undislosed amount.

"The shareholder of both Religare Wellness and Lifetime Healthcare believe the deal is significant step in building of a large scale, pan-India entity that will lead the wellness retail sector in India," Religare Wellness Ltd CEO Sanjeev Chaudhry said in a statement.

Lifetime Healthcare Pvt Ltd which is also known as LifeKen has 70 pharmacy and wellness stores in cities such as Bangalore, Chennai, Hyderabad and Pune under the brand name LifeKen and Pill & Powder and consequent to the deal, Religare wellness now has footprints in North, South and West India, the company said.