The shares of one of the leading healthcare stocks rose 4 percent after a private equity and investment firm made an announcement related to the company.
At 11 a.m the shares of Healthcare Global Enterprises was trading green at a share price of Rs 358 up by 4 percent from its previous close price and the market capitalization of the company is 4,950 Cr.
As per the reports, CVC Capital Partners, the private equity and investment firm, announced that it is looking for potential buyers for its controlling stake of 60.4 percent in one of the leading healthcare hospital chain Healthcare Global Enterprises which is worth $345 million.
The 60.4 percent stake in the company is held by ACESO Company PTE Ltd which is based in Singapore, it is indirectly owned by CVC Partners.
Healthcare Global Enterprises has delivered returns of 38 percent in the last 6 months and 30 percent in one year.
Healthcare Global Enterprises revenue has increased by 21.27 percent from 1,394.78 Cr in FY22 to 1,691.41 Cr in FY 23, accompanied by profits which have decreased from 38.93 Cr to 17.63 Cr.
The company has reported a return on equity (ROE) of 2.06 percent and return on capital employed (ROCE) of 11.69 percent, both the profitability ratios have reduced due to the increase in operating expenses and it has reported a debt to equity ratio of 0.47 percent indicating the debt is less in proportionate to its equity.
According to the latest shareholding data available for the June 2023 quarter, the company’s Promoters hold 71.35 percent stake, the Domestics Institutional Investors hold 6.59 percent and the Foreign Institutional Investors (FII) hold 2.47 percent.
Healthcare Global Enterprises is engaged in setting up and managing hospitals and medical diagnostic services including scientific testing and consultancy services in the pharmaceutical and medical sector.It is a provider of specialty healthcare focused on cancer and fertility.
Written by: Bharath K.S
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