Tanu Healthcare under Contract Farming for Medicinal Plants with Socrus Bio Sciences Group
Tanu Healthcare Ltd has informed BSE that the Company has entered into an agreement with Socrus Bio Sciences Group, Indore, for Contract Framing of Medicinal Plants.
Under the Contract Framing arrangement with Socrus Bio Sciences Group, the company is going to have access to 200 acres of land in which currently farming of medicinal plantations is taking place. The medicinal plants are used by leading Pharma Companies and Indian Medicine Manufacturing Companies for the purpose of Herbal Formulations. The Medicinal Plants current grown in the Socrus Bio Farms have an annualize revenue potential of about Rs 80 crores. Tanu Health Care is going to take up the marketing activity of the same and increase the target market for the Medicinal Plants both in India and Abroad.
Under the Agreement both the companies agreed to explore the possibilities of merging the 200 acres of land where currently medicinal plantations are grown to function as single entity in the coming days. Both the companies have agreed to appoint an Independent Valuer for the purpose of the proposed merger.
Tags: Tanu Healthcare