Mumbai-based tax advisory firm Dhruva Advisors and OrbiMed-backed Entero Healthcare Solutions announced separate deals on Monday.
US-headquartered global tax services and software provider Ryan will acquire a majority stake in Dhruva Advisors, forming a joint venture in India.
Ryan’s senior leadership will join Dhruva’s board, while Dhruva’s partners will acquire an equity stake in Ryan, according to a press release. Dhruva CEO Dinesh Kanabar will become vice chairman of Ryan.
The partnership will strengthen Ryan’s presence in India, the Middle East, and Asia, and boost its ability to serve clients in high-growth markets.
Founded in 2014 by Kanabar, Dhruva offers services in corporate tax, regulatory advisory, tax structuring, indirect tax, transfer pricing, and cross-border trade compliance. It employs over 500 professionals across 11 offices in India, the Middle East, and Singapore, serving sectors such as aerospace, automotive, chemicals, finance, healthcare, technology, and real estate.
Meanwhile, Ryan has a multidisciplinary team of over 5,900 professionals serving over 77,000 clients in more than 80 countries.
Entero Healthcare-Ace Cardiopathy
Entero Healthcare Solutions, a distributor of pharmaceuticals and healthcare products, has acquired a 60% stake in Ace Cardiopathy Solutions for Rs 59.3-Rs 77.1 crore ($6.6-8.6 million). The deal is expected to close by January 31, 2026.
Entero Healthcare is backed by OrbiMed and ValueQuest Scale Fund.
Ace Cardiopathy, incorporated in December 2009, distributes medical devices and allied healthcare products. Its revenue fell to Rs 155 crore in FY25 from Rs 176 crore a year ago.
Separately, Entero Healthcare has approved the sale of 100% stake in its subsidiary Suprabhat Pharmaceutical to Yash Sudhir Biradar and Kavita Sudhir Biradar.
The deal is expected to be completed in FY26. Suprabhat Pharmaceutical posted a total income of nearly Rs 20 crore in FY25.
