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Healthcare Global Enterprises to acquire oncology business of HCG NCHRI Oncology LLP

11 Nov 2024 Evaluate

Healthcare Global Enterprises has executed Business Transfer agreement (BTA) on November 09, 2024, with HCG NCHRI Oncology LLP, a wholly owned subsidiary of the company, for the acquisition of the oncology business of HCG NCHRI Oncology LLP, located at Nagpur, on a slump sale basis (collectively known as Business Undertaking).

The revenue of the Business Undertaking as per the unaudited financials for the half year ended September 30, 2024, was around Rs 43.50 crore. In order to enhance business synergy and efficiency in terms of operating model, the Company has decided to pursue the acquisition of the Business Undertaking. This would result in the reorganization of the Company structure and its subsidiaries, to simplify the complex organization structure, with assets used in providing services, housed in different entities in the group.

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.

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566.55 -0.25 (-0.04%)
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