Indegene Limited has completed an internal restructuring transaction involving the acquisition of 100% equity shares in Trilogy Writing & Consulting Inc., a Canada-based medical writing company. The acquisition was finalized on December 31, 2025, through a Share Purchase Agreement signed by the company's wholly owned subsidiaries.

Transaction Structure

The acquisition was executed by Indegene, Inc. (USA) and Trilogy Writing and Consulting GmbH, both wholly owned subsidiaries of Indegene Limited. The transaction involved acquiring 100% equity shares in Trilogy Writing & Consulting Inc., formerly known as Trilogy Writing and Consulting ULC (Canada).

Target Company Profile

Trilogy Writing & Consulting Inc. is a Canada-based company specializing in medical writing services. The company operates within the healthcare industry and has demonstrated consistent growth in recent years.

The target company's turnover has shown significant growth, increasing from CAD 369,636 in 2022 to CAD 892,361 in 2024, representing substantial year-over-year expansion in its medical writing business.

Regulatory Compliance

The transaction has been disclosed under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company confirmed that:

• The transaction falls within related party transactions
• No promoter, promoter group, or group companies have any interest in the entity being acquired
• The transaction was conducted on an arm's length basis
• No governmental or regulatory approvals were required for the acquisition

Post-Acquisition Structure

Following the completion of this internal restructuring, Trilogy Writing & Consulting Inc. will cease to be a subsidiary of Trilogy Writing and Consulting GmbH and will become a wholly owned subsidiary of Indegene, Inc. This restructuring aligns with the company's strategic organizational objectives while maintaining full control over the medical writing capabilities of the acquired entity.

The acquisition strengthens Indegene's presence in the medical writing sector and enhances its service offerings within the healthcare industry. The transaction represents a strategic internal reorganization designed to optimize the company's subsidiary structure and operational efficiency.

Indegene Limited , a global technology-led healthcare solutions provider, has announced a strategic move to strengthen its European presence through the acquisition of Cake Group, a healthcare marketing and communications agency operating in the DACH region (Germany, Austria, and Switzerland).

Acquisition Details

Indegene's wholly-owned subsidiary, Indegene Ireland Limited, has signed a Share Purchase Agreement to acquire 100% equity shares in Cake Group for a consideration not exceeding EUR 8.50 million, subject to working capital and net debt adjustments. The transaction is structured as an all-cash deal with deferred performance and milestone-based considerations.

About Cake Group

Cake Group is a specialized healthcare marketing and communications agency headquartered in Vienna, Austria. The company offers a range of services including brand strategy, creative campaign development, and digital marketing solutions. With approximately 25 employees across the DACH region, Cake Group has demonstrated consistent revenue performance over the past three years:

Strategic Implications

This acquisition aligns with Indegene's strategy to expand its European footprint and enhance its capabilities in healthcare communications. By integrating Cake Group's expertise, Indegene aims to strengthen its service offerings to life sciences clients in the DACH region.

Transaction Timeline and Regulatory Approvals

The acquisition is expected to be completed in January 2026, subject to clearance under the Austrian Investment Control Act (InvKG). This regulatory approval is a crucial step in finalizing the transaction.

Market Impact

For Indegene, this acquisition represents a significant step in its European expansion strategy. It not only broadens the company's geographical presence but also adds specialized healthcare marketing capabilities to its portfolio. The move is likely to enhance Indegene's competitive position in the European healthcare solutions market.

As the healthcare sector continues to evolve, particularly in terms of digital marketing and communications, this acquisition positions Indegene to better serve the needs of pharmaceutical and life sciences companies in the DACH region.