The Competition Commission of India (CCI) has approved the acquisition of up to 100% equity shareholding of Apollo Fertility Centre Pvt. Ltd (AFCPL) and Apollo Specialty Hospitals Pvt. Ltd. (ASHPL) by Kids Clinic India Ltd. (KCIL) along with related transactions. The proposed combination involves three distinct elements: the acquisition of up to 100% equity of AFCPL and 100% equity of ASHPL by KCIL (Proposed Apollo Acquisition), the issuance of equity shares and optionally convertible debentures representing 9.9% shareholding in KCIL on a fully diluted basis to Apollo Health and Lifestyle Limited (AHLL) as partial consideration for the acquisition (Proposed KCIL Acquisition), and the issuance of certain equity shareholding in KCIL to Arvon Investments Pte. Ltd. (Proposed KCIL Investment).
KCIL operates chains of super-specialty hospitals under the Cloudnine brand focused on mother and baby care across maternity, gynaecology, paediatrics, and fertility verticals, with presence in Bengaluru, Delhi NCR, Mumbai, Pune, Chennai, Hyderabad, Lucknow, Ludhiana, and Chandigarh. AHLL operates in healthcare through primary care clinics and diagnostic services and is wholly owned by Apollo Hospitals Enterprise Limited (AHEL), a publicly listed company where promoters hold 28.02% and public shareholders hold 71.98%. AFCPL is a chain of fertility clinics under the Apollo Group entirely held by AHLL, specializing in assisted reproductive treatments including IVF, embryo freezing, and genetic testing. ASHPL previously operated three business segments—Cradle, Fertility, and Spectra—until June 2024.