Healthcare Global Enterprises was trading flat at Rs 363.55 in the early trade on October 5, a day after the company acquired a cancer hospital in in Madhya Pradesh.
On October 4, the company announced the strategic acquisition of SRJ CBCC Cancer Hospital in Indore, making an entry into Madhya Pradesh. The company also plans to expand by adding 100 beds and a state-of-the-art cancer diagnostic and treatment facilities within two years.
“This milestone marks our entry into this vibrant healthcare market and underscores our unwavering commitment to delivering world-class cancer care. We believe in the potential of this acquisition to make a meaningful impact on the lives of countless patients and further our mission of ensuring accessible and exceptional cancer care across India," said BS Ajaikumar, ExecuƟve Chairman, Healthcare Global Enterprises.
The Indore hospital takes the company's count of hospitals in India and Africa to 24. It also has eight daycare centres.
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The company's promoter, private equity firm CVC Capital Partners, was looking for an exit by selling its controlling stake (60.4 percent) in the hospital company and could seek a premium of at least 20 percent and up to 50 percent for the buyout, depending on market conditions, Bloomberg's reported in September.
According to data compiled by Bloomberg, CVC’s stake in HCG is worth about $ 345 million.
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