Milestone Religare invests Rs 31 cr in HCG

Milestone Religare Investment Advisors, a joint venture between Milestone Group & Religare Enterprises, announced an investment of Rs 31.2 crore in HealthCare Global Enterprises (HCG). HCG is a Bangalore-based pan-India chain of 20 super-specialty cancer care hospitals and also operates CyberKnife, a state of the art radiation treatment for cancer.

This investment has been made from the India Build-Out Fund– I, a Rs 600 crore private equity fund focusing on education & healthcare infrastructure. This takes Milestone Religare’s investment in the healthcare sector to around Rs 100 crore.

Dr Amit Varma, board and investment committee member, Milestone Religare said, “Though the Indian healthcare industry is over $55 billion in size currently, the existing infrastructure is inadequate. Cancer care is largely restricted to 24 government funded regional centres and a few private players. With establishment of cancer care centres such as HCG, early detection and better quality treatment will lead to higher recoveries among patients.”

Equirus Capital acted as the advisor to HCG on this transaction.

Ravi Mani of Equirus Capital, said, "HCG with its state-of-the-art unique oncology-focused business model has been growing at a compounded annual growth rate (CAGR) of over 50 per cent in the last few years."