HealthCare Global Enterprises Limited (HCG), specialty healthcare service provider in India focused on oncology, announced the acquisition of an additional 60.9 percent in Suchirayu Healthcare Solutions Hubli, thereby becoming a majority stake owner from its existing 17.7 percent to 78.6 percent.
Suchirayu owns a state-of-the-art multi-speciality hospital in Hubli with an operational capacity of 110 beds and a potential to scale up to 250 beds.
HCG has operated and maintained the said entity’s hospital since August 2017 and had the right to increase its stake up to 80 percent in July 2022. HCG also owns and operates a standalone Cancer Centre at Hubli, and the acquisition is expected to create synergetic benefits and market leadership in the geography.
HCG and the current group of promoter doctors decided to bring HCG on board to collectively enhance the value moving forward. HCG has a successful track record of integrating acquisitions, and this acquisition will be in line with HCG’s strategy going forward.
HCG is one of India's largest oncology-focused private hospital groups, with a significant network of oncology centers located across leading cities and treating thousands of ‘new cancer patients every year.
Dr. BS Ajaikumar, Executive Chairman of HCG, said, “We are confident that we will be able to derive multiple synergies with this acquisition. Hubli is an emerging geography with great potential, and the acquisition will deliver focused medical care into this micro-market. We continue to explore opportunities in the regional cancer leaders’ space to further consolidate our dominant position.”
Raj Gore, CEO of HCG, added, “The acquisition will add another feather in our cap as we strive to accelerate revenues and drive operational efficiencies to deliver value for the shareholders.”
