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HealthCare Global Enterprises surges on acquiring additional 60.9% stake in Suchirayu Healthcare Solutions

22 Nov 2021 Evaluate

Healthcare Global Enterprises is currently trading at Rs. 261.75, up by 9.40 points or 3.72% from its previous closing of Rs. 252.35 on the BSE.

The scrip opened at Rs. 256.80 and has touched a high and low of Rs. 262.80 and Rs. 253.15 respectively. So far 1774 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 282.55 on 08-Nov-2021 and a 52 week low of Rs. 122.15 on 19-Nov-2020.

Last one week high and low of the scrip stood at Rs. 282.55 and Rs. 244.10 respectively. The current market cap of the company is Rs. 3164.89 crore.

The promoters holding in the company stood at 68.40%, while Institutions and Non-Institutions held 15.40% and 16.19% respectively.

HealthCare Global Enterprises (HCG) has acquired additional 60.9% stake in Suchirayu Healthcare Solutions (Suchirayu), Hubli, thereby becoming a majority stake owner from its existing 17.7% to 78.6%. Suchirayu owns a state-of-the-art multi-speciality hospital in Hubli with an operational capacity of 110 beds and a potential to scale up to 250 beds. HCG has operated and maintained the said entity’s hospital since August 2017 and had the right to increase its stake up to 80% in July 2022.

HCG also owns and operates a standalone Cancer Centre at Hubli, and the acquisition is expected to create synergetic benefits and market leadership in the geography. HCG and the current group of promoter doctors decided to bring HCG on board to collectively enhance the value moving forward. HCG has a successful track record of integrating acquisitions, and this acquisition will be in line with HCG’s strategy going forward.

HealthCare Global Enterprises (HCG) is Bangalore based provider of speciality healthcare in India focused on cancer and fertility. It operates the largest cancer care network in India in terms of the total number of private cancer treatment centres licensed. It also operates fertility centres under the ‘Milann’ brand.

HealthcareGlobal Share Price

566.55 -0.25 (-0.04%)
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