HCG acquires Vizag based cancer hospital for enterprise valuation of Rs 414 crore

HCG, India's leading cancer care chain, acquired a majority stake in Visakhapatnam's Mahatma Gandhi Cancer Hospital for Rs 414 crore. The deal begins with a 51% ownership, aiming to complete 85% in 18 months. The hospital's FY24 revenue was Rs 120.2 crore with an EBITDA of Rs 42.2 crore, expected to boost HCG's annual EBITDA by Rs 3 per share and consolidate its position in the Vizag region.