• HealthCare Global Enterprises Limited (HCG), specialty healthcare service provider focused on oncology, announced the acquisition of an additional 60.9% in Suchirayu Healthcare Solutions, Hubli, thereby becoming a majority stake owner from its existing 17.7% to 78.6%.
  • The Company has acquired 3,30,00,000 shares of Suchirayu at Rs.10 per share, for an amount aggregating to Rs. 33 Crore valuing Suchirayu Healthcare at approximately Rs. 54 Crore at present.

 HealthCare Global Enterprises Limited:

  • HCG Hospitals, established in the year 2007 is a Multi-Specialty Hospital with NABH [National Accreditation Board for Hospital and Healthcare Providers] Accreditation. HCG, headquartered in Bengaluru, is a provider of cancer care. It has a network of 22 cancer centers across India and Africa and 7 fertility centers.

 Suchirayu Health Care Solutions Ltd:

  • Suchirayu owns a multi-specialty hospital in Hubli, Northern Karnataka, with an operational capacity of 110 beds and a potential to scale up to 250 beds.
  • It has various departments such as Gastroenterology, Pulmonology, Pediatrics, Neurology, Orthopedic, etc.
  • Revenue of Suchirayu for FY21 was Rs.55.37 Crore.


  • HCG has operated and maintained Suchirayu hospital since August 2017 and had the right to increase its stake up to 80% 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 has a successful track record of integrating acquisitions, and this acquisition is in line with HCG’s strategy going forward.
  • BS Ajaikumar, Executive Chairman of HCG commented that M&A has been a core part of their strategy, and they have demonstrated our capability to integrate acquisitions. Having operated Suchirayu for the past four years with successful patient outcomes and desired financial results, acquiring a majority was a logical step in cementing their presence in the region.
  • HCG said that within last 4 years they could double the revenue and increase EBITDA margin to over 20% for Suchirayu from single digit EBITDA margin.
  • HCG’s share price went up by 4% in the morning trade after company announced news of acquisition.


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