Monday , September 20 2021

Healthcare Global Enterprises soars on acquiring oncology hospital lab, clinical trials business from Strand Lifesciences

Healthcare Global Enterprises is currently trading at Rs. 244.65, up by 8.15 points or 3.45% from its previous closing of Rs. 236.50 on the BSE.

Healthcare Global Enterprises

The scrip opened at Rs. 247.70 and has touched a high and low of Rs. 252.25 and Rs. 243.60 respectively. So far 15759 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 10 has touched a 52 week high of Rs. 264.75 on 09-Aug-2021 and a 52 week low of Rs. 111.50 on 22-Sep-2020.

Last one week high and low of the scrip stood at Rs. 252.25 and Rs. 226.20 respectively. The current market cap of the company is Rs. 2966.11 crore.

The promoters holding in the company stood at 68.41%, while Institutions and Non-Institutions held 16.11% and 15.48% respectively.

HealthCare Global Enterprises (HCG) has acquired oncology hospital labs and clinical trials business from Strand Lifesciences as well as simultaneous the company divested its 38.5% stake (on paid-up capital basis and 34.5% on fully diluted basis) in Strand to Reliance Industries group company.

HCG received consideration of around Rs 157 crore for sale of its ownership in Strand and acquired labs and clinical research business through a Business Transfer Agreement (BTA) from Strand for a consideration of Rs 81 crore with a set-off of Rs 7 crore towards receivables. The transactions resulted in net cash inflow of Rs 83 crore for HCG in addition to the take-over of the labs and clinical research business.

The company is Bangalore based provider of speciality healthcare in India focused on cancer and fertility. It operates the largest cancer care network in India in terms of the total number of private cancer treatment centres licensed. It also operates fertility centres under the ‘Milann’ brand.

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