HealthCare Global Executes Business Transfer Agreement With Strand Life Sciences
HealthCare Global Enterprises Limited has entered into definitive agreements providing for a business combination (hereinafter referred to as the "Business Combination") of its Triesta Sciences business unit ("Triesta Sciences"), with Strand Life Sciences Private Limited, a company incorporated under the Companies Act, 1956 and having its registered office at 5th Floor, Kirloskar Business Park, Bellary Road, Hebbal, Bangalore 560024 ("Strand Life Sciences").
The Company has entered into a Business Transfer Agreement ("BTA"), a Share Subscription Agreement ("SSA") and a Shareholders' Agreement ("SHA") with Strand Life Sciences in relation to the proposed Business Combination. The BTA provides for the transfer by the Company to Strand Life Sciences of the Triesta Sciences business unit, and the SSA provides for the issue of shares of Strand Life Sciences to the Company in consideration thereof, resulting in the Company acquiring 48.5% shareholding in Strand Life Sciences on a fully-diluted basis post the Business Combination. The SHA governs the inter-se rights and obligations of the parties.