PharmEasy’s parent company, API Holdings, is continuing to restructure its business, with its subsidiary Thyrocare Technologies monetising one of its businesses through the sale of Nueclear Healthcare Ltd (NHL).

Thyrocare, which operates the diagnostics business under API Holdings, has approved the sale of its 100% stake in Nueclear Healthcare to Trovera Healthcare for around ₹141 crore.

The transaction is structured as a combination of cash and equity. Thyrocare will receive approximately ₹81.9 crore in cash, while the remaining ₹59.5 crore will come through the allotment of 42,500 CCPS of Trovera Healthcare. These CCPS, priced at ₹14,000 each, will represent approximately 4.5% of Trovera’s share capital and will be convertible into equity shares on a 1:1 basis.

For Thyrocare, the transaction provides both an immediate cash inflow and an equity interest in Trovera following the sale.

The transaction comes as API Holdings continues to restructure its business and improve its financial performance. PharmEasy, which is part of API Holdings, is currently trading at around ₹7.95 per share in the unlisted market.

The company’s latest quarterly numbers also show a significant improvement in operating performance. API Holdings’ revenue increased from ₹1,591 crore in Q1 FY26 to ₹1,754 crore in Q1 FY27.

The improvement was more visible at the EBITDA level. API Holdings reported EBITDA of ₹39 crore in Q1 FY27, compared with an EBITDA loss of ₹12 crore in Q1 FY26. The company had reported EBITDA of approximately ₹33 crore in the previous quarter.

The company also reduced its loss at the profit-before-tax level. PBT loss narrowed from ₹145 crore in Q1 FY26 to ₹29 crore in Q1 FY27.

A major contributor to the improvement was the reduction in finance costs, which declined sharply from around ₹119 crore in Q1 FY26 to ₹55 crore in Q1 FY27.

As a result, API Holdings’ EBITDA margin improved from -0.80% in Q1 FY26 to 2.20% in Q1 FY27.

The Nueclear Healthcare transaction therefore comes at a time when API Holdings is working on both business restructuring and improving its operating performance. Recently, the company also sold a 9.9% stake in Thyrocare Technologies and repaid approximately ₹1,050 crore of debt.