PE Fund Investments
KKR picks up 54% stake in cancer hospital chain HCG for Rs.3,465-Cr
Global Private Equity investor KKR is to acquire a 54% stake in Bengaluru-based, publicly listed hospital chain Healthcare Global Enterprises (HCG), from CVC Asia V, for USD 400 million (about INR 3,465 crore).KKR will purchase shares of HCG at INR 445 apiece from CVC and make an open offer to the company’s public shareholders to buy an additional 26%, which will cost it another INR 1,600 crore.Founded in 1989, HCG operates 25 medical care centres in 19 cities with 2,500 beds, nearly 100 operating theatres, and 40 linear accelerator machines. The Karnataka cluster is HCG’s largest, followed by Gujarat and Maharashtra. The company has a presence in Africa. HCG works with more than 400 oncologists.For the first nine months of FY25, HCG’s revenue increased by 16% to INR 1,637 crore, with a 38% year-on-year jump in PAT to INR 37 crore.
In Jun-2020, CVC had invested INR 963.63 Cr to acquire a 53.35% stake in HCG. The investor had since increased its stake.
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