Piramal Enterprises Likely To Hive Off Its Critical Care Business
Piramal Enterprises is weighing options to hive off its highly profitable critical care business. Though much smaller than its two competitors, AbbVie and Baxter, the business has a distinct edge, offering the full-spectrum of inhalation anesthesia portfolio and has presence in over 100 countries. “Interest is strong with good cash flow, growth, stable customer base and limited competition. The key driver is the valuation and if it does not match expectations, the deal. Piramal Enterprises, which stretches from pharmaceuticals, realty investments, financial services and healthcare intelligence, clocked revenues of 5,123 crore in 2014-15. The critical care unit contributed. 757 crore to this, growing at 18 per cent over the last five years.