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Investment
HCG Receives $ 20 million Funding from PremjiInvest
 The
additional financial muscle would also enable the corporate hospital to adopt
global innovations in the diagnosis, treatment and management of cancer HealthCare
Global Enterprises Ltd (HCG), a leader in oncology care in India, has attracted
an investment of $20 million by PremjiInvest, a fund sponsored by Azim Premji,
Chairman and CEO of Wipro, one of India’s largest software companies.
The fresh funding would help HCG to enlarge its vision of backward integration
in cancer management on a pan-India basis and realise its dream of making cancer
treatment accessible to all segments of society. HCG currently manages a network
of 10 cancer centres across India. It focuses on cancer treatment centres, imaging
and laboratory services and clinical trials and research services. The additional
financial muscle would also enable it to adopt global innovations in the diagnosis,
treatment and management of cancer, besides aggressively pursuing its hub and
spoke model of cancer care centres nationally. Dr Ajai Kumar, Chairman &
CEO, HCG, said, "The investment from PremjiInvest would enable us ramp
up fast across various geographies besides enhancing our core research initiatives
and bring cutting-edge technologies and treatment modalities. We value their
operational expertise in creating world class businesses, best practices and
technology and look forward to forge a strong relationship with them."
Prakash Parthasarathy, Chief Investment Officer, PremjiInvest, said, "Healthcare
in India is going through rapid transition and need for top quality specialised
medical care is increasing. HCG already has strong credentials in oncology care,
a highly accomplished medical team and a committed management under Dr Ajai's
leadership. We are honoured to be part of this passionate organisation addressing
a critical gap in the county's infrastructure."
PremjiInvest’s investment philosophy is long term. It supports management
teams and companies through their investment cycle in creating scalable businesses,
best of class operations, backed by strong governance standards, added Parthasarathy.
EH News Bureau
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