HCG gets PrejmiInvest funding pan-India expansion

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Bangalore, May 5 (UNI) HealthCare Global Enterprises Ltd (HCG), a leader in oncology care, has received a US 20 million dollars investment from PremjiInvest, a fund sponsored by Wipro chief Azim Premji, to expand on pan-India basis.

Briefing newspersons, HCG Chairman and CEO Ajai Kumar said here today that the fresh funds would help HCG set up three new Centres of Excellence in Delhi, Bangalore and Ahmedabad, besides opening ten more oncology care centres across India.

"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," he said.

PremjiInvest Chief Investment Officer Prakash Parthasarathy said through the investment, the company would now be acquire a significant minority stake in HCG.

"This is an investment that enable us to contribute to national infrastructure, especially in the healthcare space. At the same time this is also an attractive investment," he said.

Dr Kumar said HCG, a physician led initiative, had presence in Delhi, Ahmedabad, Ranchi, Erode, Nashik, Bangalore (four centres) and Shimoga.

UNI RS RM TS1428

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