Apollo Hospitals Enterprise, one of the largest healthcare groups, has entered into a memorandum of understanding (MoU) with Hetero Med Solutions. As a part of MoU, Apollo Hospitals will acquire Hetero Med's retail pharmacy stores. It comprises of 320 pharmacy stores, at an overall consideration not exceeding Rs 1.46 billion.

Hetero Med operates retail pharmacy stores in Telengana, Andhra Pradesh and Tamil Nadu. The acquisition would be in the form of purchase of the business undertaking, on a slump sale basis.

Shares of the company gained Rs 17.35, or 1.57%, to trade at Rs 1,125.00. The total volume of shares traded was 10,267 at the BSE (12.08 p.m., Wednesday).