Informative

HealthCare Global Enterprises acquires Andhra-based MGCHRI for Rs 414 cr

Update / Judgement Date

29 Jun 2024

Source

Business Standard

Author

Team — WCP Legal Desk

Reading Time

1 min read

MSME & Udhyam

HealthCare Global Enterprises Limited (HCG) has announced the acquisition of Mahatma Gandhi Cancer Hospital & Research Institute (MGCHRI) in Vizag, Andhra Pradesh, for an enterprise value of ₹414 crore. HCG will initially hold a 51% stake in MGCHRI, with plans to acquire an additional 34% over the next 18 months. \r

MGCHRI reported FY23 revenues of ₹110 crore and an EBITDA of ₹40 crore, with provisional FY24 figures at ₹120.2 crore and ₹42.2 crore respectively. HCG aims to address the radiation therapy demand-supply gap in Andhra Pradesh and Orissa, enhance operational efficiencies, and expand its multi-modality programs in Vizag’s competitive healthcare market.

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HealthCare Global Enterprises acquires Andhra-based MGCHRI for Rs 414 cr

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