On May 2, 2025, Healthcare Global Enterprises Limited (HCG) announced a significant regulatory development regarding its previously disclosed strategic transaction. In a filing under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the company disclosed that the Competition Commission of India (CCI) has approved the proposed acquisition of up to 54% of its voting share capital by a consortium of investors.

The proposed acquisition, initially announced in a letter dated February 23, 2025, involves a transaction between the existing shareholders (sellers) and the acquiring entities – namely Aceso Company Pte. Ltd, Hector Asia Holdings II Pte. Ltd, and KIA EBT II Scheme 1 (collectively referred to as “Purchasers”).

This strategic move represents a major realignment in the shareholding structure of HCG, a prominent provider of cancer care and specialty healthcare services in India.

Details of the Transaction

• Percentage of Share Capital Involved: Up to 54%

• Parties Involved in the Agreement:

  • Aceso Company Pte. Ltd

  • Hector Asia Holdings II Pte. Ltd

  • KIA EBT II Scheme 1

  • Healthcare Global Enterprises Limited (HCG)

• Nature of Transaction:
  Sale of shares through a share purchase agreement, implying a change of control and significant transfer of ownership.

• Approval Status:

  • CCI Approval Received on: May 1, 2025

  • Formal Order: Awaited

  • Mode of Communication: CCI letter dated May 1, 2025

This approval is a crucial step in consummating the acquisition, as CCI clearance is mandatory for transactions that meet certain thresholds under India’s competition laws. The notification ensures that the acquisition does not raise competition concerns or create a dominant market position that could potentially harm consumers.

Background on the Share Purchase Agreement

The Board of Directors of HCG had approved the execution of the Share Purchase Agreement (SPA) earlier this year. The deal reflects a strategic partnership that may bring fresh capital, operational synergies, and global expertise to support HCG’s growth trajectory in the Indian healthcare sector.

The SPA outlines the sale of equity shares by the current shareholder(s) to the buyers, thereby enabling the acquisition of controlling stake in HCG by the consortium of investors. The completion of this deal was subject to regulatory approvals, with the CCI nod being a significant milestone in the process.

About the Acquiring Entities

• Aceso Company Pte. Ltd and Hector Asia Holdings II Pte. Ltd are reputed investment firms, likely backed by global institutional investors focused on healthcare and infrastructure sectors.

• KIA EBT II Scheme 1 is presumably an employee benefit trust or investment vehicle, though further details are not publicly disclosed in the filing.

The strategic intent of these investors appears to be consolidation, scaling operations, and expansion of clinical services offered by HCG, leveraging India’s growing demand for oncology care.

About Healthcare Global Enterprises Limited (HCG)

HCG is one of India’s largest providers of specialty cancer care, operating a network of comprehensive cancer centres across the country. Headquartered in Bengaluru, HCG has pioneered advanced diagnostic and treatment protocols in oncology, including radiation therapy, surgical oncology, and robotic-assisted procedures.

The company’s listing details are as follows:

• BSE Code: 539787

• NSE Symbol: HCG

It is listed on both BSE and NSE, and the current development aligns with the company’s commitment to timely disclosures and regulatory compliance.

Implications of the Acquisition

The acquisition of a majority stake (54%) by international investors indicates strong confidence in India’s healthcare sector, particularly in oncology services. Once fully executed, the transaction may result in:

• Change in Promoter or Control Structure of HCG

• Board Reconstitution or Management Changes

• Strategic Capital Infusion for growth and technology upgradation

• Improved Governance and Global Best Practices

Investors, employees, and other stakeholders are expected to benefit from the backing of experienced institutional players with deep pockets and a global outlook.

Next Steps

• The detailed CCI order is awaited, which will outline the full legal rationale for the approval.

• Post-CCI clearance, the parties may proceed with the closing formalities, including share transfers, regulatory filings, and updates to exchanges.

• Further announcements regarding the completion of the transaction, financial terms, or board-level changes may be made in due course.

Corporate Governance and Regulatory Compliance

Healthcare Global Enterprises Limited continues to uphold corporate governance standards and complies with all SEBI Listing Regulations. By promptly informing the stock exchanges (BSE and NSE) of material developments, the company ensures transparent communication with shareholders and the investing public.

Conclusion

The CCI’s approval dated May 1, 2025, marks a pivotal development in the proposed acquisition of a 54% stake in Healthcare Global Enterprises Limited by Aceso Company, Hector Asia Holdings II, and KIA EBT II Scheme 1. With the transaction now cleared from a competition law perspective, the company is poised to undergo a transformative ownership change that may unlock substantial value for shareholders and accelerate growth in the high-potential Indian healthcare sector.

Investors and stakeholders are advised to stay tuned for further updates once the detailed CCI order is received and post-closing announcements are made.

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