KKR will acquire up to 54 per cent of equity in HCG from CVC Asia V at a purchase price of Rs 445 per share 
 
Global investment firm KKR and Healthcare Global Enterprises announced the signing of definitive agreements with CVC, a leading global private markets manager, under which funds managed by KKR will become the largest shareholder in HCG and assume sole control of HCG’s operations.

Dr BS Ajaikumar, founder of HCG, will take on the role of non-executive chairman and focussed on driving clinical, academic, research and development excellence.

As part of the transaction, KKR will acquire up to 54 per cent of equity in HCG from CVC Asia V at a purchase price of Rs 445 per share. Pursuant to the Securities and Exchange Board of India’s Takeover Regulations, KKR will conduct an open offer to purchase additional equity shares in HCG from public shareholders. Upon completion of the transaction, KKR is expected to hold an equity stake of between 54-77 per cent. 

Akshay Tanna, Partner and Head of India Private Equity, KKR, said, “As healthcare continues to be a thematic focus for KKR in India, our investment in HCG will support the development of medical infrastructure and the delivery of critical oncology services and care to more patients in the country. We look forward to leveraging KKR’s global healthcare expertise to strengthen HCG’s offerings and working with Dr BS Ajaikumar to further enhance HCG’s clinical excellence.”

Dr BS Ajaikumar, Founder, HCG, said, “I want to thank CVC for their support through the years, helping the management to put HCG in the strong position it is in today. I am delighted to welcome KKR, with their investment and operational expertise in healthcare in India and globally, as a majority shareholder in HCG. Patient well-being and outcomes will always be a top priority for us at HCG, and in my new role as Non-Executive Chairman, I will focus on clinical aspects involving multi-disciplinary approach to cancer care, and research and development; and look forward to the journey of HCG where it continues to stay at the forefront of clinical excellence, research, and academics.

Siddharth Patel, Managing Partner, CVC, said, “We are proud to have supported HCG’s transformation at a critical juncture in time to build it into one of India’s leading healthcare organizations and the delivery of high-quality care to many patients over the years.” 

Amit Soni, Partner, CVC added, “Our partnership with Dr. Ajaikumar and the management team is a testimony to the ability to combine clinical and professional acumen to increase the reach of cancer care in India. We thank Dr. Ajai and the management for their unparalleled support and commitment to a common vision.”

The transaction is expected to close by the third quarter of 2025, subject to customary closing conditions and regulatory approvals.