Shares of Sun Pharmaceutical Industries were trading 1% above on 6 October after the company entered into an agreement to acquire a minority stake in EzeRx Health Tech Pvt Ltd.

The pharmaceutical major is looking to acquire a 37.76% stake in EzeRx Health Tech at a cost of Rs 28.69 crore and is expected to be finalised within this month upon the satisfactory fulfilment of certain conditions.

EzeRx Health Tech is a company that specialises in the production, marketing, and distribution of non-invasive diagnostic and ancillary medical devices for both domestic and international markets.

This investment aligns with the company’s commitment towards diversifying and strengthening its product portfolio, mainly in the field of non–invasive medical tech.

EzeRx Health Tech was established on 3 July 2018 and is in its early-stage medical technology company with a focus on innovative, non-invasive screening solutions that are used for early detection of primary health parameters.

During the previous fiscal year, EzeRx Health Tech reported an operating revenue of Rs 6.15 crore.

The pharma major has also announced the agreement to acquire an additional 4.04% stake in Agatsa Software Private Ltd.

At 1:27 pm, the shares of Sun Pharmaceutical Industries were trading at Rs 1,129.90 or 0.97% above its previous close on NSE.