Healthcare Global shares rallied 5% and reached an intraday high of Rs 359.50 on 27 September after the alleged reports that the company’s promoter, CVC Capital Partners, was looking to sell its controlling stake and planning an exit in the cancer hospital chain.

According to data compiled by Bloomberg, the stake of CVC Capital Partners in Healthcare Global is worth about $345 million.

The private equity firm acquired around 59% stake in the hospital chain in 2020 for Rs 1,100 crore.

Since then, the private equity firm’s investment has increased 2.7 times in less than 3 years.

Upon acquisition, CVC appointed Raj Gore as the CEO of the hospital chain as he had prior experience heading Apollo Hospitals South region, which had 15 facilities under him.

The company’s quarterly report for the April-June quarter posted a 47.2% YoY increase in its net profit at Rs 3.65 crore and a 13% YoY increase in its revenue from operations at Rs 459.71 crore.

At 11:30 am, the shares of Healthcare Global were trading at Rs 356 or 4.03% above its previous close on NSE.