The Taparia family, who had sold Famycare, the female healthcare business to drug maker Mylan for Rs 4600 crore last year, have picked a majority stake in Guardian Lifecare, India’s third largest pharmacy chain after Apollo and Medplus. The deal, under discussions for the past few months, is valued at around Rs 55 crore, a source aware of the development told.
A questionnaire to the Taparias on the development was not answered. Samara Capital and Ajay Lal, a private equity professional, are existing equity holders in Guardian. Following the deal with Taparias, Guardian will be run by a professional management team. Ashutosh Garg, who started the chain in 2003, will have a minority stake in the new company and hold a seat on the board of directors. With new infusions, Guardian is expected to consolidate itself in the NCR and late aim at a national footprint. Besides, Guardian will strengthen its online arm for pharmacy and health care services.