Thyrocare Applied sciences Ltd, an Indian diagnostics firm specialising in preventive care, medical chemistry and pathological testing, has accredited the sale of its whole stake in wholly owned subsidiary Nueclear Healthcare Ltd (NHL) to Trovera Healthcare for about Rs 141.4 crore, as the corporate shifts its capital and administration focus in the direction of its core pathology enterprise.

Beneath the proposed transaction, Thyrocare will switch 1,11,11,000 fairness shares in NHL, representing 100% of the subsidiary’s issued and paid-up fairness share capital, to Trovera.

The consideration will comprise about Rs 81.9 crore in money, topic to a working-capital adjustment, and Rs 59.5 crore by means of 42,500 compulsorily convertible choice shares, or CCPS, of Trovera.

The CCPS might be issued at Rs 14,000 every, together with a premium of Rs 13,990 per share. They are going to symbolize about 4.5% of Trovera’s share capital on a completely diluted foundation and might be convertible into fairness shares on a 1:1 foundation.

The share buy settlement has not but been executed. Thyrocare expects the transaction to be accomplished on or earlier than 30 November 2026, topic to shareholder and different relevant approvals.

Trovera was included on 16 June 2026 and is engaged in, or proposes to hold on, healthcare and diagnostic-services actions. The corporate just isn’t a part of Thyrocare’s promoter or promoter group, and the proposed transaction just isn’t categorised as a related-party transaction.

Why Thyrocare is promoting NHL

NHL operates in radiology and diagnostic imaging, a enterprise that requires continued spending on diagnostic tools, know-how, upkeep and infrastructure.

Thyrocare stated the divestment will permit it to direct capital and administration consideration in the direction of its pathology operations.

The choice follows an earlier evaluation of the radiology enterprise. In July 2026, Thyrocare’s board gave in-principle approval to guage a restructuring of NHL’s radiology operations.

Throughout the firm’s Q1 FY27 earnings name, managing director and CEO Rahul Guha stated the enterprise had not been rising and that Thyrocare had been conservative about placing additional capital into it due to its return profile in contrast with pathology.

On the time, the corporate was in search of a associate prepared to put money into and develop the enterprise. Guha additionally stated there was no definitive purchaser at that stage.

The settlement with Trovera marks the subsequent step in that course of.

Thyrocare to purchase Gurugram and Hyderabad properties from NHL

Alongside the proposed stake sale, Thyrocare’s board has accredited the acquisition of land and buildings in Gurugram, Haryana, and Hyderabad, Telangana, from NHL for about Rs 20.59 crore.

The consideration excludes relevant stamp obligation, registration charges and different prices.

Thyrocare already operates diagnostic laboratory services from the 2 properties and pays lease to NHL for his or her use.

The acquisition is proposed to be accomplished earlier than or concurrently with the sale of NHL, permitting Thyrocare to retain the properties used for its laboratory operations after the subsidiary is offered.

NHL reported Rs 44.62 crore income in FY26

NHL reported income from operations of Rs 44.62 crore in FY26, down about 6% from Rs 47.59 crore a yr earlier. Its FY26 income represented about 5.38% of Thyrocare’s consolidated turnover.

NHL recorded a PAT of Rs 6.16 crore throughout the yr, in contrast with just about no revenue in FY25. Its FY26 PAT margin stood at about 14%.

The subsidiary’s internet value stood at Rs 83.55 crore as of 31 March 2026, representing about 14.27% of Thyrocare’s consolidated internet value excluding non-controlling curiosity.

Thyrocare’s broader radiology enterprise additionally consists of Pulse Hitech. The phase reported income of Rs 13.48 crore in Q1 FY27, down 4% from a yr earlier, with the corporate attributing the decline to its strategic exit from non-profitable centres.

The pathology-led wider enterprise continued to develop throughout the quarter. Thyrocare’s consolidated income from operations rose 24.3% year-on-year to Rs 240.02 crore in Q1 FY27, whereas revenue after tax elevated 34.1% to Rs 51.33 crore.