Shares of Apollo Hospitals Enterprise Ltd., India’s largest healthcare services firm, surged to a record Tuesday after it announced plans to merge its digital health and pharmacy businesses and spin them off as a new listed entity.
The stock jumped as much as 4.7% after it said late Monday it will merge pharmacy business Apollo Healthco Ltd. and wholesale distributor Keimed Pvt. with Apollo Healthtech and list the newly created unit in 18 to 21 months.
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