Over the past 5 years, billionaire Mukesh Ambani’s Reliance Industries Ltd (RIL) spent $13 billion on acquisitions, marking a strategic shift from its traditional oil and petrochemicals business towards clean energy and consumer-focused sectors. The acquisitions span new energy, telecom, retail, and media businesses, with a notable recent addition to its digital healthcare ecosystem.
Last week, RIL acquired Karkinos Healthcare for Rs 375 crore, strengthening its presence in the diagnostic and digital healthcare sectors.
According to a Morgan Stanley report “Over the past five years, RIL has announced $13 billion in acquisitions with 14 per cent in new energy, 48 per cent in technology, media and telecommunications (TMT), 9 per cent in retail, and increasingly more in healthcare.”
The report also highlights that out of the total amount, $6 billion was spent on media and educational acquisitions, $2.6 billion on telecom and internet ventures, $1.7 billion on new energy, and $1.14 billion on retail. The most significant acquisition in the past five years was the $981 million buyout of Hathway Cable and Datacom, local cable TV and internet service providers. RIL also spent $771 million acquiring Norwegian solar panel manufacturer REC Solar Holdings and $767 million purchasing search and database firm JustDial.
The recent acquisition of Karkinos Healthcare, which focuses on innovative, technology-driven solutions for early cancer detection and management, adds to RIL’s growing healthcare portfolio. Karkinos aims to act as a care partner during a patient’s cancer treatment, joining previous investments like HAGI, Netmeds, and Strand Life Science.
Karkinos, founded in 2020, had a turnover of Rs 22 crore in the 2022-23 fiscal year. The company collaborates with approximately 60 hospitals and is establishing a 150-bed multispecialty cancer hospital in Imphal, Manipur. It offers a range of services including oncology testing, radiation therapy, and advanced cancer care diagnostics, all at competitive prices aimed at improving accessibility to effective cancer treatment.
Investors in Karkinos include the Tata Group, Rakuten, Mayo Clinic, and Hero Enterprise. As part of its strategic vision, RIL plans to leverage its technological expertise and extensive distribution networks to create integrated healthcare systems, digital health platforms, telemedicine services, and advanced healthcare delivery models.
