Shares of Healthcare Global Enterprises Ltd soared 7% on 24 February after global investment company KKR announced in an exchange filing on Sunday, 23 February that it had finalised negotiations with CVC to acquire the majority share in healthcare provider Healthcare Global Ltd.

The filing states that KKR will purchase up to 54% of Healthcare Global from CVC Asia V for Rs 445 per share. The buying price is almost 11% lower than Healthcare Global’s closing price from last Friday.

The total payout for this interest is $400 million, or approximately Rs 3,465 crore. In his capacity as non-executive chairman, Healthcare Global’s founder, Dr. BS Ajaikumar, will oversee clinical, academic, and research and development.

The deal also triggers an obligatory open offer in which KKR would purchase additional equity shares from the public shareholders of Healthcare Global. At the end of the December quarter, 28.77% of Healthcare Global was owned by the general public.

KKR is expected to acquire between 54% and 77% of Healthcare Global, the healthcare provider said in a statement.   The PE firm will use its Asia Fund IV to invest in healthcare companies in the country, including Baby Memorial Hospital, Healthium, Infinx, Max Healthcare, JB, and Gland Pharma.

One of the biggest oncology hospital chains in India, Healthcare Global has 25 medical facilities spread across 19 cities, which include 2,500 beds, 100 operating rooms, and 40 linear accelerators.

The transaction is anticipated to complete by the third quarter of 2025, pending regulatory clearances and typical closing procedures.

At 11:23 am, the shares of Healthcare Global were trading 2.65% higher at Rs 513 on NSE.

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