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.
This story is from the July 07, 2024 edition of The New Indian Express.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the July 07, 2024 edition of The New Indian Express.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
DEVINE ACT: SOPHIE.TAHUHU STUN INDIA
White Ferns captain cracks unbeaten half-century before pacer runs riot to hand Harmanpreet Co a 58-run defeat on Friday
All hail Omaima Sohail, Pakistan's bowling lodestar
OMAIMA Sohail loves to bowl.
Jeevika stuns Bhakti in national chess meet
THE second round of the National Women Chess Championship, which is being held at Chettinadu Public School, Managiri (Karaikudi), saw lesser-fancied players pulling off some big moves.
ISL 2024: Borja strikes late to rescue FC Goa
NORTHEAST United FC shared the spoils with FC Goa in a scintillating 3-3 draw in the Indian Super League at the Jawaharlal Nehru Stadium here.
Irani Cup: Spinners put Mumbai in command
SEASONED spin duo of Shams Mulani and Tanush Kotian became catalysts of Rest of India's sudden middle-order collapse that saw them lose six wickets for only 23 runs here Friday, putting Mumbai within sniffing distance of an Irani Cup triumph despite Abhimanyu Easwaran's heroic 191.
HIL set to return after seven years
THE much-awaited Hockey India League (HIL) will return after seven long years in a new avatar, where both the men's and women's teams will participate in the event beginning December 28.
Telcos asked to act against spammers
THE Telecom Regulatory Authority of India (TRAI) on Friday issued a warning to telecom service providers, urging them to step up their efforts against spammers.
IT sector bounces back with 18% YoY growth in hiring in September
FROM the sluggish pace of hiring, the IT sector has bounced back strongly in September as there was an 18% year-on-year (YoY) growth in hiring.
iPhone 16 series to be made in India
WEEKS after launching its iPhone 16 series, Apple announced that it will manufacture its entire iPhone 16 lineup, including premium devices, in the country.
Luxury carmaker BMW calls for green tax to boost net zero efforts
AMID talks about increasing GST on electric vehicles - all EVs including luxe ones currently attract a flat 5% - the country's largest luxury EV car-maker BMW has called for a green tax/GST, which typically levies lesser tax on a product that's greener than others.
