NantHealth Inc. (NantHealth), a US-based healthcare technology company specializing in developing solutions for precision medicine and cloud-based data analytics, sold its Indian subsidiary to Allscripts Healthcare Solutions, Inc., a global leader in healthcare information technology. This sale was a part of NantHealth’s strategic restructuring initiative to streamline its focus on its core healthcare analytics services. Majmudar & Partners played a pivotal role in facilitating a tax efficient transfer and ensuring compliance with Indian tax laws during the transaction.
Facilitating the Transaction
Majmudar & Partners provided comprehensive support on tax-related aspects of this restructuring deal, specifically focusing on:
- Tax Structuring: Assisted NantHealth with structuring the transaction to minimize the tax impact for NantHealth, ensuring an efficient cross-border asset transfer.
- Regulatory Compliance: Ensured that all aspects of the transaction were aligned with Indian tax laws, including capital gains tax considerations.
- Transaction Documentation: Drafted and negotiated the tax clauses in the sale and purchase agreements, ensuring clarity for NantHealth its on tax liabilities and compliance obligations.
- Withholding Tax Advisory: Provided guidance to NantHealth on its withholding tax obligations under the India-US tax treaties, mitigating the tax impact for NantHealth.
NantHealth’s sale of its Indian subsidiary to Allscripts Healthcare Solutions was a strategic decision to streamline its focus on its core analytics capabilities. Majmudar & Partners’ expertise in tax advisory and regulatory compliance ensured a smooth and tax-efficient restructuring process for NantHealth, allowing the company to meet its strategic objectives with minimal tax liabilities.
Majmudar & Partners has extensive experience in corporate restructuring, including tax advisory and compliance support for cross-border transactions. Contact us today to ensure a seamless and tax-efficient restructuring for your business in India.