M&A
HCG to acquires Vizag’s cancer hospital MGCHRI for Rs.414-cr
BSE Announcement Economic Times
Publicly-listed cancer care chain HealthCare Global Enterprises (HCG) has acquired a controlling stake in Visakhapatnam-based Mahatma Gandhi Cancer Hospital and Research Institute (MGCHRI) at an enterprise value of INR 414 crore.Veda Corporate Advisors were the advisors to MGCHRI and the promoters on the deal.HCG will initially acquire 51% stake in MGCHRI for INR 207.6 Cr and an additional 34% stake over the next 18 months for INR 155 Cr. The balance 15% would be acquired subsequently.Founded by Dr. Murali Krishna Voonna, MGCHRI currently has a capacity of 196 beds. It had reported income from operations of INR 120.2 crore with an EBITDA of INR 42.2 crore for FY24.
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