HealthCare Global To Raise R50Cr PE Funding
HealthCare Global Enterprise Limited is planning to raise R50Cr PE funding for expansion.
The company is planning to expand its network from the present 26 centres to 40 centres by the year 2014 for an investment of R100Cr.
HCG is planning to invest R50Cr from internal accruals, while rest will be raised through PE route.
The company is also planning R500Cr IPO by 2014.
Founded in 1989, Bangalore-based HCG owns and manages a network of cancer treatment centers in India. It focuses on cancer care, diagnostics, imaging, research, and clinical trials services.It currently manages 20 cancer centres across Asia.
In 2000, Banglore Institute of Oncology, the flagship of HCG acquired Curie Centre of Oncology, while in 2005 HCG acquired Triesta Sciences.
In 2006, IDFC invested R50Cr for 21.52% stake which was utilized for hospital expansion including 13 satellite centres across country to provide cancer diagnosis and treatment under brand name 'Curie'.
PremjiInvest had invested $20 Mn in HCG, whereas Milestone had invested $6.85 Mn through its India Build Out Fund- I.
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