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
HealthCare Global Enterprises Limited (HCG) announced the acquisition of an additional 60.9 per cent in Suchirayu Healthcare Solutions, Hubli, thereby becoming a majority stake owner from its existing 17.7 per cent to 78.6 per cent.
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 per cent 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.
Dr BS Ajaikumar, Executive Chairman, HCG, said, “We are confident that we will be able to derive multiple synergies with this acquisition. Hubli is emerging geography with great potential, and the acquisition will deliver focused medical care into this micro-market. We continue to explore opportunities in the regional cancer leaders’ space to further consolidate our dominant position.”
Raj Gore, CEO, HCG, added, “The acquisition will add another feather in our cap as we strive to accelerate revenues and drive operational efficiencies to deliver value for the shareholders.”
