Private equity major KKR has entered into exclusive talks to acquire a controlling stake in CVC Capital-owned cancer hospital chain HealthCare Global Enterprises Ltd (HCG), Moneycontrol reported on Monday, citing people aware of the matter.
CVC Capital acquired a controlling stake in the hospital chain in 2020 for Rs 1,049 crore.
“While several suitors had shown interest in acquiring the asset, KKR has emerged as the frontrunner to pick up the majority stake in HCG,” one of the people cited above said.
Hospital chain founders BS Ajaikumar and his family own a 10.87% stake in the chain.
The hospital chain went public in 2016, raising Rs 650 crore in its initial public offering (IPO).
The acquisition talks come at a time when India is seeing unprecedented demand for healthcare amid rising disposable incomes and health awareness.
Among top deals clocked in the country’s hinterland this year, KKR made headlines for backing Baby Memorial Hospital in Kozhikode in July, while Anchorage Capital Partners, Volrado Ventures and Warburg Pincus invested in Meril Life Sciences in February.
