KKR has acquired 51%-54% of equity in Healthcare Global Enterprises Limited from CVC at a purchase price of ₹445 per share. KKR has also entered into an agreement with HCG’s promoter family in relation to their rights and obligations post completion of the acquisition.

Cyril Amarchand Mangaldas (CAM) acted as legal counsel to KKR on this acquisition deal.

Cyril Shroff (Managing Partner) and Reeba Chacko (Senior Partner) provided strategic inputs for the transaction.

The transaction was led by Nivedita Rao (Senior Partner), Anand Jayachandran (Partner), Aditya Prasad (Partner), with support from Supriya Aakulu (Principal Associate), Astha Tambi (Senior Associate) and Arundhati Diljit (Associate).

Aditya Prasad (Partner) with support from Sheetal S (Principal Associate), Kritika Dobhal (Associate), and Ayushi Mehta (Associate) advised on the open-offer related aspects.

The overall due diligence on the Target was led by Ratnadeep Roychowdhury (Partner) with support from Anirud Sudarsan (Principal Associate).

Shravan Belsare (Associate), Raajash Kulmi (Associate), Abhishek R Chandel (Associate) and Gagan Bajpai (Associate) assisted on corporate related diligence.

Abhilash Pillai (Partner), along with Varsha Kulkarni (Consultant), Akshaya BS (Associate), Astha Krishna (Associate) and Madhurashree Rajkumar (Associate), advised on real estate diligence and advisory matters with inputs and support from Ashish Jain (Partner), Emil Joseph (Partner), Jinal Mehta (Partner), Siddharth Singh (Partner), Jaideep Kodali  (Principal Associate), Karan Sharma (Principal Associate), Januja Shukla (Consultant), Archit Mishra (Senior Associate), Mayur Nene (Senior Associate), Yashvi Shah (Senior Associate), Bhargavi Akanksha (Consultant), Nishama Bhandari (Consultant), Kalyan Chakravarthy (Associate), Rushi Panchal (Associate), Kashish Gupta (Associate), Shruthi P (Associate) and Manogya Chava (Associate).

Lomesh Nidumuri (Partner (Head - Disputes, South India)), with the support from Bhairav Charantimath (Senior Associate), Soundarya Rajagopal (Associate) assisted on litigation related diligence.

Ashwin Sapra (Partner (Head - Pharma & Healthcare)), with the support from Kartik Jain (Principal Associate),Kartik Agrawal (Associate),Vatsala Parashar (Associate) assisted on regulatory diligence.

Bishen Jeswant (Partner) with the support from Rohini Dayalan (Senior Associate),Raunak Sood (Associate), and Shivika Gupta (Associate), assisted on employment law related matters.

Arun Prabhu (Partner (Head - Technology)) with the support from Kanav Khanna (Associate) assisted on intellectual property and information technology related diligence.

Avaantika Kakkar (Head - Competition), with support from Rajat Sharma (Senior Associate), Vanya Agarwal (Associate), and Vrinda Nargas (Associate) advised on competition law related matters.

Vivaik Sharma (Partner) with support from Mudit Burad (Associate) advised on employee benefit trust related aspects.

Pranav Sharma (Partner) and Garima Sahani (Director) advised on financing related aspects.

Bharath Reddy (Partner) with support from Simran Jain (Senior Associate- Designate), Mayank Jain (Associate) and Rashi Kabra (Associate) assisted with ESOP related matters.

Anagram Partners advised CVC on this transaction.

The transaction team was led by Shuva Mandal (Partner), Ankit Mishra (Partner) and Aditi Tralshawala (Partner) and consisted of Senior Associates Sanskriti Singh and Jagdish Kaisare.

The transaction triggered an open offer under the Takeover Regulations.

The deal is valued at $ 400 million according to CNBC TV18.

At closing, funds managed by KKR will become the largest shareholder in HCG and assume sole control of HCG. Dr. BS Ajaikumar, Founder of HCG, will take on the role of Non-Executive Chairman and be focused on driving clinical, academic, research and development excellence.

The investment was aimed at expanding HCG’s network of cancer hospitals, enhancing clinical capabilities, and improving access to high-quality oncology treatments. Through this strategic acquisition, KKR leveraged its financial and operational expertise to drive HCG’s growth, focusing on advanced medical technologies and patient-centric care. The deal underscored KKR’s commitment to investing in critical healthcare infrastructure and addressing the growing demand for specialized medical services in India.

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