M&A
HCG hikes stake in multi-specialty hospital Suchirayu to 79%
Bengaluru-based, publicly listed HealthCare Global Enterprises Ltd (HCG), a specialty healthcare service provider focused on oncology, has acquired an additional 60.9% stake in Hubballi-based Suchirayu Healthcare Solutions. With this, HCG has raised its stake in Suchirayu from the existing 17.7% to 78.6% for a total investment of INR 33 crore. Suchirayu owns a multi-speciality hospital in Hubballi with an operational capacity of 110 beds with a potential to scale up to 250 beds. Its revenue for FY21 was INR 55.37 crore. HCG has operated and maintained the hospital since August 2017 and had the right to increase its stake up to 80% by July 2022. HCG also owns and operates a standalone Cancer Centre at Hubballi.
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