Thyrocare to Exit Radiology, Sell Nueclear Healthcare for INR 141.4 Cr

The agreement is yet to be executed, and completion is expected on or before November 30, 2026, subject to shareholder and other applicable approvals.

Thyrocare Technologies has approved the divestment of its entire stake in Nueclear Healthcare (NHL), a wholly-owned radiology and diagnostic imaging subsidiary of Thyrocare Technologies, founded in 2011, for approximately INR 141.4 Cr.

The move marks its planned exit from the radiology and diagnostic imaging business, allowing the company to direct capital and management attention towards its core pathology operations.

Thyrocare has been reviewing the future of Nueclear Healthcare as its radiology business has required continued investment in imaging equipment, technology, maintenance and infrastructure.

The company had earlier indicated that it was evaluating options to restructure the business, with the latest agreement moving that process towards a full divestment.

Under the proposed transaction, Thyrocare will sell 1,11,11,000 equity shares, representing 100% of Nueclear Healthcare’s issued and paid-up equity capital, to Trovera Healthcare through a proposed share purchase agreement.

The agreement is yet to be executed, and completion is expected on or before November 30, 2026, subject to shareholder and other applicable approvals.

The INR 141.4 Cr consideration will comprise approximately INR 81.9 Cr in cash, subject to a working-capital adjustment, and INR 59.5 Cr through 42,500 compulsorily convertible preference shares (CCPS) of Trovera.

The CCPS will be issued at INR 14,000 each and are expected to represent about 4.5% of Trovera’s fully diluted share capital.

Trovera Healthcare was incorporated in June 2026 and proposes to operate in healthcare and diagnostic services.

It is not part of Thyrocare’s promoter or promoter group, and the proposed transaction has not been classified as a related-party transaction.

Alongside the INR 141.4 Cr Nueclear Healthcare divestment, Thyrocare has approved the purchase of land and buildings in Gurugram and Hyderabad from NHL for approximately INR 20.58 Cr.

Thyrocare currently uses these properties for diagnostic laboratory operations and pays rent to Nueclear Healthcare.

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