PEL to buy 50% in UK venture

Mumbai, January 30: | Updated: Jan 31 2002, 05:30am hrs
Piramal Enterprises Ltd (PEL) will buy the 50 per cent stake in the joint venture BUPA Piramal Healthcare Ltd from the UK-based healthcare organisation British United Provident Association (BUPA).

The decision was jointly taken by BUPA and PEL following a strategic review of its portfolio by BUPA. The joint venture operated the start up facility Wellspring, providing state-of-the-art ambulatory facilities, a PEL release said.

Commenting on the development, BUPA Piramal Healthcare director Dr Swati Piramal said: "The Wellspring facility is critical to the group’s pharma strategy.” u