Indian HCG to acquire majority stake in Cancer Care Kenya
HealthCare Global Enterprises (HCG) will acquire a majority stake in Cancer Care Kenya for an unknown amount. The acquisition will also involve the CDC, the UK government development finance institution, and MP Shah Hospital, a tertiary care facility in Kenya.
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HCG to acquire majority stake in Cancer Care Kenya

HCG to acquire majority stake in Cancer Care Kenya

New Delhi, Mar 29 (PTI) HealthCare Global Enterprises (HCG) has entered into definitive agreements to acquire a majority stake in Cancer Care Kenya for an undisclosed amount.The UK government's develo

New Delhi, Mar 29 (PTI) HealthCare Global Enterprises (HCG) has entered into definitive agreements to acquire a majority stake in Cancer Care Kenya for an undisclosed amount.

The UK government’s development finance institution CDC and MP Shah Hospital, a tertiary care hospital in Kenya, will also participate in the transaction, HealthCare Global Enterprises said in a filing to BSE.

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The company, however, did not disclose any financial details about the proposed acquisition.

The founder of Cancer Care Kenya (CCK) N Adamali will retain his shareholding in the company post acquisition and will continue his association, it added.

CCK, which started operation in 2010, is the first private comprehensive cancer centre in Kenya.

The company is excited by the opportunity to partner with CCK and looks forward to working closely with our partners, Dr Adamali, CDC and MP Shah Hospital to bring in the highest standards of excellence in cancer care in Africa…, HCG Chairman B S Ajaikumar said.

Shares of HealthCare Global Enterprises today closed at Rs 228.75 per scrip on BSE, up 0.99 per cent from its previous close.

This is published unedited from the PTI feed.

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