One of India’s top providers of specialized cancer treatments, Healthcare Global Enterprises Limited (HCG), has declared its intention to increase its market share in Africa. An investment of up to Rs. 700 lakhs (about $840,000) in Cancer Care Kenya Limited, a step-down subsidiary of HCG, has been approved by the company’s Board of Directors.
The investment will be made in equity shares of Cancer Care Kenya Limited, subject to relevant regulatory approvals and the fulfillment of certain procedures. Based on the fair worth of Cancer Care Kenya’s shares as established by an independent valuation expert, the decision was made at the Board meeting on November 12, 2023.
This action seems to be a component of HCG’s plan to increase its market share in the African healthcare industry. Located in Nairobi, Kenya, Cancer Care Kenya Limited offers radiation and chemotherapy therapies along with a 15-bed daycare center.
HCG’s trust in the African healthcare market’s potential for growth, especially in oncologist treatments, may be demonstrated by this investment. It also demonstrates the company’s dedication to diversifying its sources of income and growing its global footprint.
The Securities and Exchange Board of India (SEBI) and other relevant regulations are followed in the structuring of the investment. HCG has indicated that it complies with cross-border investment standards by stating that the proposed investment is dependent upon the required regulatory clearances.
Apart from its investment in Cancer Care Kenya, Healthcare Global Enterprises has presented a thorough multi-year expansion plan. The strategy’s main objectives include oncology expansion, clinical excellence, deepening regional networks, improving margins, precision oncology and digital health platforms.
This multifaceted strategy shows HCG’s dedication to long-term expansion and its goal to solidify its standing as a pioneer in oncology services in India and around the world.
Together with its all-encompassing growth strategy, Healthcare Global Enterprises’ investment in Cancer Care Kenya may improve its standing in the expanding African healthcare market and support its long-term expansion in specialized oncology services.