Reliance Acquires Karkinos Healthcare for ₹375 Crore

Billionaire Mukesh Ambani's Reliance is pushing into new markets beyond oil and retail. Karkinos (founded in 2020) applies technology to identify and treat cancer at an early stage. I

Mumbai: Reliance Industries Ltd. bought Karkinos Healthcare, a cancer-focused technology company, for ₹375 crore on 27 December 2024. The investment, made through subsidiary Reliance Strategic Business Ventures, is intended to enhance Reliance’s health services in India.

Billionaire Mukesh Ambani’s Reliance is pushing into new markets beyond oil and retail. Karkinos (founded in 2020) applies technology to identify and treat cancer at an early stage. In FY 2022-23, it earned ₹22 crore, and it works with 60 hospitals across the country now. This is following Reliance’s previous investment in Karkinos in 2021, as it continues to zero in on healthcare.

Under the acquisition, the company would purchase 1 crore equity shares for ₹10 crore along with 36.5 crore convertible debentures for ₹365 crore. It also canceled 30,075 shares that were held by previous owners of Karkinos and made it a full subsidiary of Reliance. Prior to this, Karkinos had the backing of large players such as Tata Sons and Mayo Clinic. The firm is also constructing a 150-bed cancer hospital at Imphal, Manipur.

“This investment adds to our health portfolio,” a Reliance spokesman said. There was no need for additional nods as the plan was passed by the National Company Law Tribunal in Mumbai. India’s growing demand for low-cost cancer treatment is an expanding market, and the deal reflects that.

Conclusion

What Reliance’s acquisition of Karkinos could mean for India’s health-care scene. It could mean cheaper, tech-augmented cancer care — and more jobs. After that, it is likely to expand Karkinos’ services or integrate them with its health business. Stay tuned for updates as this develops.

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