Shares of Healthcare Global were trading 4% above on 31 October after CVC Capital launched a deal to sell a controlling stake in the company.

According to a report from CNBC-TV18, private equity firms such as KKR, BPEA EQT, and Manipal Hospitals are in talks for a buyout. CVC Capital aims to sell its 60.42% stake in the company for over Rs 4,000 crore.

The company was founded in 1989 in Bangalore and owns 24 comprehensive cancer centres across India. CVC Capital acquired around 59% stake in the company for Rs 1,100 crore in 2020.

In its quarterly report for the April-June quarter, the company reported a 47.2% year-on-year (YoY) increase to Rs 3.65 crore against Rs 2.48 crore reported in the same quarter of the previous fiscal year.

The cancer hospital chain reported a 12.9% YoY increase in its revenue from operations at Rs 459.71 crore from Rs 407.31 crore reported in the year-ago quarter,

The company has also made important strides in expanding its regional network with acquisitions in Nagpur and Indore.

At 1:49 pm, the shares of Healthcare Global were trading 3.74% above at Rs 372.35 on NSE.