HealthCare Global share price jumped 7% on Monday after global investment firm KKR announced to buy a majority stake in the company. HealthCare Global shares spiked as much as 7% to a high of ₹535 apiece on the BSE.
KKR has signed a definitive agreement to acquire up to 54% stake in HealthCare Global Enterprises from CVC Asia V, at a purchase price of ₹445 per share, making the private equity firm the largest shareholder and sole operator of the Indian cancer-care chain.
KKR will also conduct an open offer to buy additional shares from public shareholders, Healthcare Global said in a stock exchange filing late Sunday.
Dr. BS Ajaikumar, Founder of HCG, will take on the role of Non-Executive Chairman and be focused on driving clinical, academic and research and development excellence. Upon completion of the transaction, KKR is expected to hold an equity stake of between 54% – 77% in HealthCare Global.
Founded in 1989, HealthCare Global operates 25 medical care centers across 19 cities including 2,500 beds, nearly 100 operating theaters and 40 linear accelerator machines (LINACs).
The transaction is expected to close by the third quarter of 2025, subject to customary closing conditions and regulatory approvals, the company said.
KKR makes its investment from its Asia Fund IV. The deal adds to KKR’s healthcare investments in India, which includes names such as medical devices maker Healthium, Max Healthcare, JB and Gland Pharma.
HealthCare Global share price has risen by over 2% in the past month and more than 5% on a year-to-date (YTD) basis. The small-cap stock has surged 36% in one year and has delivered multibagger returns of 378% over the past five years.
At 1:05 PM, HealthCare Global shares were trading 1.99% higher at ₹509.95 apiece on the BSE, with a market capitalisation of over ₹7,108 crore.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
Stock Market today: The mid-cap stock Triveni Engineering & Industries Ltd gained 4% in the…
Singapore’s DBS Group sees its workforce shrinking 10 per cent over the next three years,…
Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories…
Hindalco Industries, has signed a Memorandum of Understanding with the Madhya Pradesh government to invest…
Stock market today: Adani Green Energy, Apollo Tyres, Bharat Forge, Dish TV, Gmm Pfaudler, Jamna…
Amid a rising trend in temperature in the second half of this month in the…