Economic Times 10 March 2011
BANGALORE: Temasek Holdings, Singapore’s state-owned investment company, has invested Rs 140 crore in Bangalore-headquartered cancer care provider HealthCare Global Enterprises (HCG).
The deal, which closed this week, values the company around Rs 1,000 crore, with HCG’s founder and chairman BS Ajaikumar retaining a 26-28% stake, according to a person with direct knowledge of the deal.
“This investment is a good wake-up call that India is ready to take centre stage in oncology,” said Ajaikumar. “It is a good feeling.” The company will use the funding to double its network to 50 centres in India and Africa. It also has plans to enter the multi-speciality space.
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Temasek Holdings invests in HealthCare Global Enterprises
