Healthcare Global Enterprises Ltd Company Summary

Healthcare Global Enterprises Ltd Summary

Healthcare Global Enterprises Limited was originally incorporated as Curie Centre of Oncology Private Limited on March 12, 1998 at Bengaluru, Karnataka, India as a Private Limited Company. The name of the Company was changed to HealthCare Global Enterprises Private Limited on November 14, 2005. Thereafter, it was converted into a Public Limited Company and the name of the Company was changed to Healthcare Global Enterprises Limited on July 5, 2006.Presently, the Company is engaged in setting up and managing hospitals and medical diagnostic services including scientific testing and consultancy services in the pharmaceutical and medical sector. Under the HCG brand, the Company operates the largest cancer care network in India in terms of the total number of private cancer treatment centres licensed by the AERB. Under the Milann brand, it operates fertility centres. Milann fertility centres provide comprehensive reproductive medicine services, including assisted reproduction, gynaecological endoscopy and fertility preservation; and follow a multidisciplinary and technology-focused approach to diagnosis and treatment. The Milann network also operates on a model similar to our HCG network, wherein the various Milann fertility centres aim to provide medical services following established protocols with a focus on quality medical care across diagnosis and treatment. It provides comprehensive inpatient and outpatient treatments. Its key specialties include cardiology, neurology, orthopaedics, gastroenterology, urology, internal medicine and pulmonary and critical care.Healthcare Global Enterprises provides clinical reference laboratory services in India under the Triesta brand with a specialisation in oncology, including molecular diagnostic services and genomic testing. It has Triesta central reference laboratory located in its centre of excellence in Bengaluru. The Triesta central reference laboratory is accredited by NABL in India, as well as by CAP for quality assurance of laboratory tests performed. Additionally, Triesta offers research and development services to pharmaceutical and biotechnology companies in the areas of clinical trial management and biomarker discovery and validation.The company acquired 50.10% equity interest in BACC Healthcare in 2013 which operates fertility centres under the Milann brand, through itself and its wholly-owned subsidiary, DKR Healthcare. HCG EKO Oncology LLP (HCG EKO LLP) HCG EKO LLP was incorporated on May 15, 2015, under the LLP Act as a limited liability partnership firm. HCG EKO LLP is authorised to primarily engage in the business of setting up hospitals at Kolkata with high end linear accelerators, oncology pharmacy and matters incidental and ancillary thereto.HCG (Mauritius) Pvt. Ltd. (HCG Mauritius) was incorporated as a Wholly Owned Subsidiary of the company on May 22, 2015, under the Companies Act, 2001 of Mauritius, as a private limited company. HCG Mauritius is authorised to hold companies which are primarily engaged in the business of treating persons with cancer, carrying on research in the field of oncology and providing various services in the field of oncology. HealthCare Global (Africa) Pvt. Ltd (HCG Africa) was incorporated as a Wholly Owned Subsidiary of the company on May 22, 2015, under the Companies Act, 2001 of Mauritius, as a private limited company. HCG Africa is authorised to engage in the business of treating persons with cancer, carrying on research in the field of oncology and providing various services in the field of oncology and hold companies which are engaged in the same business.Healthcare Global Enterprises entered into a share purchase agreement dated November 23, 2015 with HCG TVH, its erstwhile subsidiary, and Anderson Diagnostics Private Limited. Pursuant to the terms of this agreement, Healthcare Global Enterprises has transferred its entire shareholding in HCG TVH aggregating 51% of the total paid up equity share capital of HCG TVH to Anderson Diagnostics Private Limited for an aggregate consideration of Rs.510,000. Accordingly, HCG TVH has ceased to be the subsidiary of the Company during the Financial Year.During the financial year ended 31 March 2016, Healthcare Global Enterprises transferred its entire shareholding in HealthCare Global (Uganda) Private Limited (HCG Uganda), HealthCare Global (Kenya) Private Limited (HCG Kenya) and HealthCare Global (Tanzania) Private Limited (HCG Tanzania) to HealthCare Global (Africa) Pvt. Ltd. Accordingly, HCG Uganda, HCG Kenya and HCG Tanzania have become level two subsidiaries of the company.During the year under review, Healthcare Global Enterprises introduced two major latest technologies at some of its centres viz. Robotic Surgery and Tomotherapy Treatment System. Robotic Surgery is an advanced form of minimally invasive or laparoscopic (small incision) surgery, where surgeons use a computer-controlled robot to assist them in certain surgical procedures. This facility was installed at Bangalore and Ahmedabad centres. The TomoTherapy treatment system uses a patented multi-leaf collimator (MLC) that divides the radiation beam into beamlets, all aimed at the tumor. More beam directions give physicians more control in how they plan treatments-and more assurance that dose will be confined to the tumor, reducing the risk of short- and long-term side effects. This facility was installed at Kalinga Rao Road centre, Bangalore.During the financial year ended 31 March 2016, the company completed its Initial Public Offering (IPO) of 29,800,000 equity shares of Rs. 10 each, comprising of Fresh Issue of 11,600,000 equity shares and Offer For Sale of 18,200,000 equity shares at a premium of Rs. 208 per equity share. The total issue size was Rs. 6496.4 million. The IPO was open for subscription during the period from 16 to 18 March 2016. The shares got listed the National Stock Exchange of India Limited and BSE Limited on 30 March 2016. In April 2016, HCG launched its first cancer centre in Visakhapatnam, under its subsidiary company, HCG Pinnacle Oncology Private Limited. HCG Pinnacle Cancer Centre has a capacity of upto 88 beds and provides high quality and comprehensive cancer care services. In May 2016, the company launched its new advanced comprehensive cancer centre in Baroda, under its subsidiary, HCG Oncology LLP. The Centre has a bed capacity of 65 beds and is one of the most advanced in terms of technology in the HCG network. HCG Pinnacle Oncology Private Limited, the wholly owned subsidiary of the Company was merged with the Company effective April 01, 2016. The Company launched the first dedicated comprehensive cancer hospital in Mumbai, in May 2017. In June 2017, HCG launched a comprehensive cancer centre in Nagpur, Maharashtra. The Cancer Care Centre in Kenya, Nairobi was acquired in July, 2017. The Company in April, 2018 acquired 12% equity shares of International Stemcell Services Limited from its existing shareholders. HCG Manavata Cancer Centre, Nashik commenced its operations in May, 2018. The Company sold its entire shareholding in HCG Regency Oncology Healthcare Private Limited to Regency Hospital Limited (RHL) and HCG Regency ceased to be a subsidiary of the Company effective from March 29, 2018.The Company commenced operations of the cancer center in Jaipur in 2018-19. The hospital in Bhavnagar commenced operations as comprehensive cancer center with launch of radiation services in the year 2019. The Nashik center commenced operations of phase 2 with a new building adjoining the original hospital, with advanced Tomotherapy Radiation technology, Bone Marrow transplant facilities and 92 beds. Also, the Company acquired 49.99% stake from its minority partner in Apex HCG Oncology Hospitals LLP, which operates the 1st private cancer center in Mumbai. The Company further commenced operations of 2 day care chemotherapy centers in Bengaluru. It commenced operations at 2 centers in Kolkata and South Mumbai.Milann new center in Ahmedabad, launched in 2018, commenced operations in 2019 and Whitefield center was launched in 2019 in Bengaluru region. The hospital in Kolkata commenced launch of operations as comprehensive cancer center including Bone-Marrow Transplant (BMT) facilities in 2020. South Mumbai center was fully operationalised in FY 2020.In FY 2022, the Company acquired an additional 60.9% in Suchirayu Healthcare Solutions, Hubli, Karnataka, from its existing share of 17.7%, to become a majority stake owner. It also acquired the oncology hospital labs and clinical trial business of Strand Life Sciences through a Business Transfer Agreement (BTA).