KKR has announced the acquisition of a controlling stake in Healthcare Global Enterprises (HCG) for $400 million, marking a significant move in India’s healthcare sector.
As part of the agreement, KKR will purchase up to 54% equity in HCG from CVC Asia V at INR 445 per share. In compliance with SEBI regulations, an open offer will be launched to acquire additional shares from public shareholders, potentially increasing KKR’s stake to as much as 77%. Once finalized, KKR will assume sole control of HCG’s operations, while HCG’s founder, Dr. BS Ajaikumar, will transition to the role of Non-Executive Chairman, focusing on clinical excellence and research.
HCG, established in 1989, is one of India’s most prominent oncology hospital chains, operating 25 medical centers across 19 cities. With state-of-the-art infrastructure, including 2,500 beds, nearly 100 operating theaters, and 40 linear accelerator machines (LINACs), HCG continues to set benchmarks in cancer treatment and patient care.
KKR’s investment in HCG is made through its Asia Fund IV and strengthens its footprint in India’s healthcare landscape. The firm has previously invested in renowned healthcare companies such as Baby Memorial Hospital, Max Healthcare, Healthium, and Gland Pharma, among others.
The transaction is expected to be completed by the third quarter of 2025, subject to regulatory approvals. With KKR’s strategic leadership and financial backing, HCG is poised to enhance its services, expand its reach, and reinforce its position as a leader in India’s oncology sector.
