NEW DELHI: Private equity (PE) major ICICI Ventures is buying Chennai-based standalone pharmaceutical and veterinary company Alved Pharma and Foods. RFCL, a wholly-owned veterinary, chemicals and medical diagnostic company of ICICI Ventures, is learnt to have inked an definitive pact with Alved Pharma and Foods for a finish buyout. The company is hoped to close this financial year with Rs 18-crore sales revenue. This would be RFCL''s third acquisition in the domestic healthcare market. In July, RFCL had also bought Wipro BioMed, IT major Wipro''s healthcare diagnostic business division.
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