The Board of Directors of Vijaya Diagnostic Centre (VDCL) and Medinova Diagnostic Services (MDSL) at their respective Board meetings held today, approved the Scheme of Amalgamation for the merger of MDSL with and into VDCL.
The proposed merger aims to combine the businesses of both companies and create synergies and enhanced value for the stakeholders of the MDSL and VDCL.
MDSL is a subsidiary of VDCL which holds 62.14% equity stake in MDSL. MDSL is in the business of providing comprehensive range of diagnostic services, spanning pathological investigations, radiology and imaging, and diagnostic cardiology.
Upon the Scheme of Amalgamation becoming effective, all the public shareholders of MDSL (as on the record date) will be issued 1 equity share of face value of Re 1 each of VDCL for every 22 equity shares of face value of Re 10 each held in MDSL.