CVC Capital mulls selling stake in Indian healthcare firm - Bloomberg News (updated)

Healthcare Global Enterprises

26/09/2023 14:47

(Adds details on the deal, background from paragraph 2 onwards)
       BENGALURU, Sept 26 (Reuters) - Private equity firm CVC
Capital Partners is considering selling a 60.4% stake in Indian
cancer hospital chain HealthCare Global  Enterprises  HEAC.NS ,
Bloomberg News reported on Tuesday, citing people familiar with
the matter. 
    The stake is worth about $345 million and CVC may seek a
premium of 20% for the shares or go as high as 50% depending on
market conditions, the report said. 
    CVC Capital and HealthCare Global did not immediately
respond to Reuters requests for comment.     
    The Bengaluru-based cancer hospital chain owns over 24
cancer centers across India and serves more than 200,000
patients every year, according to its website. 
    Private healthcare is booming in India due to a growing
population and rising disposable incomes. Global consultancy
firm PwC projects 12% to 14% annual growth for India's private
healthcare market currently worth around $48 billion.
    
    
    

 (Reporting by Kashish Tandon in Bengaluru; Editing by Shinjini
Ganguli and Devika Syamnath)
 ((Kashish.Tandon@thomsonreuters.com;))