Latest news with #RollinsInternational
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Business Standard
8 hours ago
- Business
- Business Standard
Singapore healthcare firm Rollins ends investment deal with EaseMyTrip
Rollins International has pulled out of a deal that would have online travel agency EaseMyTrip acquire a 30 per cent stake in the healthcare company, the OTA told exchanges earlier this week as it pursues opportunities in India's medical tourism industry. The two companies in September had signed definitive agreements for EaseMyTrip to acquire a stake in Rollins through a share swap deal of Rs 60 crore. The OTA allotted 32.9 million fully paid-up equity shares to Rollins in April 2025. 'Following thorough internal deliberations and detailed discussions with the management of Rollins, we have reached a collective decision to not proceed with the transaction,' said Rollins in a letter to EaseMyTrip. 'Upon evaluation of our long-term strategic direction and evolving vision, we have concluded that proceeding further with the transaction may not be fully aligned with our goals moving forward. Considering the interests of all our stakeholders, including our internal team and future aspirations of Rollins — we believe this course of action is the most responsible at this stage,' it said. Rollins is a subsidiary of Singapore-based RHA Holdings and focuses on gluten- and lactose-free food products, allergen-free health supplements, and wellness therapies and technologies. EaseMyTrip, in September, decided to enter India's growing medical tourism sector by acquiring a 49 per cent equity stake in Pflege Home Healthcare for Rs 30 crore, and a 30 per cent stake in Rollins International for Rs 60 crore. Pflege Home Healthcare assists patients seeking treatment in Dubai and it is taking the service to the United Arab Emirates, Singapore, Thailand, Turkey, India, and Malaysia. In the March quarter, EaseMyTrip posted a consolidated net profit of Rs 13.9 crore. Revenue from operations dropped 15.2 per cent to Rs 139 crore, from Rs 164 the year before. Air ticketing continued to be the company's biggest revenue driver.
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Business Standard
11 hours ago
- Business
- Business Standard
Rollins exits Ease My Trip stake deal citing change in strategic vision
Healthcare company Rollins International has pulled out of a deal, where online travel aggregator (OTA) Ease My Trip was set to acquire a 30 per cent stake in the company, the OTA informed exchanges earlier this week. In September last year, the two companies had signed definitive agreements for the OTA to acquire a stake in Rollins through a share swap deal of ₹60 crore. Following this, the OTA had issued and allotted 3.29 crore fully paid-up equity shares to Rollins in April 2025. 'Following thorough internal deliberations and detailed discussions with the management of Rollins, we have reached a collective decision to not proceed with the transaction,' stated the letter from Rollins, addressed to Ease My Trip. 'Upon evaluation of our long-term strategic direction and evolving vision, we have concluded that proceeding further with the transaction may not be fully aligned with our goals moving forward. Considering the interests of all our stakeholders, including our internal team and future aspirations of Rollins – we believe this course of action is the most responsible at this stage,' it added. Rollins International is a subsidiary of the Singapore-based entity — RHA Holdings, with a focus on gluten- and lactose-free food products, allergen-free health supplements, and wellness therapies and technologies. Pflege Home Healthcare enables medical tourism, providing services for patients seeking treatment primarily in Dubai, and is now taking the service to the UAE, Singapore, Thailand, Turkey, India, and Malaysia. In the March quarter, the travel company posted a consolidated net profit of ₹13.9 crore, while its revenue from operations dropped 15.2 per cent to ₹139 crore from ₹164 crore in the year-ago period. The air ticketing business continued to be the biggest driver of revenue for the company in the quarter.
