India’s HCG acquires Mahatma Gandhi Cancer Hospital for $50m

This enables the company to own a 51% stake in the hospital.

India’s HealthCare Global Enterprises Limited (HCG) is acquring Mahatma Gandhi Cancer Hospital & Research Institute (MGCHRI) for approximately $50m (INR414b).

HCG will have an initial 51% stake in the hospital, with plans to complete the acquisition of the additional 34% over the next 18 months.

MGCHRI houses 196 operational beds and features medical technologies including two linear accelerator (LINAC) machines, one PET CT scanner, a robotics surgery system, and a dedicated bone marrow transplant (BMT) unit.

Its clinical team comprises 31 doctors, including surgical, radiation, and medical oncologists.

“This partnership enhances our ability to provide cutting-edge care in Vizag's competitive healthcare landscape,” HCG CEO Raj Gore said.

“We are excited about the opportunities ahead and remain focused on advancing healthcare outcomes for our patients whilst creating sustained value for our stakeholders,” Gore said.

INR 1 = $0.012