THE healthcare sector is on the verge of rapid consolidation as collaborations, mergers and acquisitions (M&A) have become the norm due to market dynamics in the space. Also, this is driven by cost factor and the need to make use of advanced technologies to serve patients better and faster.
The sector has been witnessing many major deals as this year alone it saw over 8 deals amounting to more than $1,068 million. In 2023, PE-VC investments in India stood at $4,506 million across 19 deals.
Dr. B S Ajaikumar, Executive Chairman, Healthcare Global Enterprises Ltd, told TNIE that consolidation is very helpful particularly in a niche space like oncology to bring about uniformity and standardisation of cancer care, as well as excellence in clinical innovation across the length and breadth of India.
HCG last month announced the acquisition of Mahatma Gandhi Cancer Hospital & Research Institute (MGCHRI) in Vizag, Andhra Pradesh, for an enterprise value of Rs 414 crore. HCG will have an initial 51% stake in the hospital, with plans to complete the acquisition of the additional 34% stake over the next 18 months.
Speaking about it, Ajaikumar said this consolidation will ease our process of key data collection, as also the analysis of case histories and outcomes specific to the Indian subcontinent.
He is looking forward to scaling new highs by virtue of the hospital's association with a renowned surgeon like Dr. Murali Krishna Voonna (oncology surgeon). "This acquisition is a win-win for both partners given the financial fillip and economies of scale through shared services and tapping of growth opportunities in a strategic location like Vizag," he said.
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