Pharmaceutical company Cipla has agreed to buy an additional stake in digital tech firm GoApptiv Private for nearly Rs 26 crore, raising its stake to 22.02%, the company said.

Cipla said in a regulatory filing that the investment will be equity and mandatory convertible preferred shares and may be completed within 30 days or another date mutually agreed.

Cipla’s early investment in GoApptiv in June 2020 grew and expanded Cipla’s channel coverage in lower-tier cities and towns in India.

Umang Vohra, MD and Global Chief Executive Officer, Cipla Limited, said: “This investment will further strengthen our partnership with GoApptiv in lines 2-6 through affordable quality medicines and end-to-end brand marketing and channel engagement. Greater patient coverage in towns and cities in India. “Caring for Life” is at the heart of what we do and will guide us in making strategic investments to help transform patients’ lives”.

GoApptiv is a digital technology company dedicated to providing pharmaceutical companies with digital solutions to expand patient coverage. It provides healthcare companies with end-to-end business solutions, including distribution, digital solutions, integrated brand sales management, digital marketing, patient support and healthcare data analytics, channel engagement, and more.