Healthcare Global Enterprises Ltd

Healthcare Global Enterprises Ltd is a provider of speciality healthcare in India focused on cancer and fertility. Under the HCG brand, it operates the largest cancer care network in India in terms of the total number of private cancer treatment centres licensed by the AERB. As of March 31, 2017, HCG network consisted of 18 comprehensive cancer centres, including its centre of excellence in Bengaluru, three freestanding diagnostic centres and one day care chemotherapy centre across India. Under the Milann brand, it operates fertility centres. Milann fertility centres provide comprehensive reproductive medicine services, including assisted reproduction, gynaecological endoscopy and fertility preservation and follow a multidisciplinary and technologyfocused approach to diagnosis and treatment. The Milann network also operates on a model similar to our HCG network, wherein the various Milann fertility centres aim to provide medical services following established protocols with a focus on quality medical care across diagnosis and treatment. The company operates seven Milann fertility centres across Bengaluru, Delhi, Chandigarh and Mumbai as on March 31, 2017.Healthcare Global Enterprises operates two multispeciality hospitals in Ahmedabad and Bhavnagar, both in the state of Gujarat. HCG Multispecialty in Ahmedabad and Bhavnagar are tertiary care hospitals with 118 and 39 available operational beds, respectively, as of March 31, 2017. It provides comprehensive inpatient and outpatient treatments. Its key specialties include cardiology, neurology, orthopaedics, gastroenterology, urology, internal medicine and pulmonary and critical care.Healthcare Global Enterprises provides clinical reference laboratory services in India under the Triesta brand with a specialisation in oncology, including molecular diagnostic services and genomic testing. It has Triesta central reference laboratory located in its centre of excellence in Bengaluru. The Triesta central reference laboratory is accredited by NABL in India, as well as by CAP for quality assurance of laboratory tests performed. Additionally, Triesta offers research and development services to pharmaceutical and biotechnology companies in the areas of clinical trial management and biomarker discovery and validation.Healthcare Global Enterprises Ltd was originally incorporated as Curie Centre of Oncology Private Limited on March 12, 1998 at Bengaluru, Karnataka, India as a private limited company. The name of the company was subsequently changed to HealthCare Global Enterprises Private Limited on November 14, 2005. Thereafter the company was converted into a public limited company and the name of the company was changed to HealthCare Global Enterprises Limited on July 5, 2006.The company acquired 50.10% equity interest in BACC Healthcare in 2013 which operates fertility centres under the Milann brand, through itself and its whollyowned subsidiary, DKR Healthcare. HCG EKO Oncology LLP (HCG EKO LLP) HCG EKO LLP was incorporated on May 15, 2015, under the LLP Act as a limited liability partnership firm. HCG EKO LLP is authorised to primarily engage in the business of setting up hospitals at Kolkata with high end linear accelerators, oncology pharmacy and matters incidental and ancillary thereto.HCG (Mauritius) Pvt. Ltd. (HCG Mauritius) was incorporated as a Wholly Owned Subsidiary of the company on May 22, 2015, under the Companies Act, 2001 of Mauritius, as a private limited company. HCG Mauritius is authorised to hold companies which are primarily engaged in the business of treating persons with cancer, carrying on research in the field of oncology and providing various services in the field of oncology. HealthCare Global (Africa) Pvt. Ltd (HCG Africa) was incorporated as a Wholly Owned Subsidiary of the company on May 22, 2015, under the Companies Act, 2001 of Mauritius, as a private limited company. HCG Africa is authorised to engage in the business of treating persons with cancer, carrying on research in the field of oncology and providing various services in the field of oncology and hold companies which are engaged in the same business.Healthcare Global Enterprises entered into a share purchase agreement dated November 23, 2015 with HCG TVH, its erstwhile subsidiary, and Anderson Diagnostics Private Limited. Pursuant to the terms of this agreement, Healthcare Global Enterprises has transferred its entire shareholding in HCG TVH aggregating 51% of the total paid up equity share capital of HCG TVH to Anderson Diagnostics Private Limited for an aggregate consideration of Rs.510,000. Accordingly, HCG TVH has ceased to be the subsidiary of the Company during the Financial Year.During the financial year ended 31 March 2016, Healthcare Global Enterprises transferred its entire shareholding in HealthCare Global (Uganda) Private Limited (HCG Uganda), HealthCare Global (Kenya) Private Limited (HCG Kenya) and HealthCare Global (Tanzania) Private Limited (HCG Tanzania) to HealthCare Global (Africa) Pvt. Ltd. Accordingly, HCG Uganda, HCG Kenya and HCG Tanzania have become level two subsidiaries of the company.During the year under review, Healthcare Global Enterprises introduced two major latest technologies at some of its centres viz. Robotic Surgery and Tomotherapy Treatment System. Robotic Surgery is an advanced form of minimally invasive or laparoscopic (small incision) surgery, where surgeons use a computercontrolled robot to assist them in certain surgical procedures. This facility was installed at Bangalore and Ahmedabad centres. The TomoTherapy treatment system uses a patented multileaf collimator (MLC) that divides the radiation beam into beamlets, all aimed at the tumor. More beam directions give physicians more control in how they plan treatmentsand more assurance that dose will be confined to the tumor, reducing the risk of short and longterm side effects. This facility was installed at Kalinga Rao Road centre, Bangalore.During the financial year ended 31 March 2016, the company completed its Initial Public Offering (IPO) of 29,800,000 equity shares of Rs. 10 each, comprising of Fresh Issue of 11,600,000 equity shares and Offer For Sale of 18,200,000 equity shares at a premium of Rs. 208 per equity share. The total issue size was Rs. 6496.4 million. The IPO was open for subscription during the period from 16 to 18 March 2016. The shares got listed the National Stock Exchange of India Limited and BSE Limited on 30 March 2016. In April 2016, HCG launched its first cancer centre in Visakhapatnam, under its subsidiary company, HCG Pinnacle Oncology Private Limited. HCG Pinnacle Cancer Centre has a capacity of upto 88 beds and provides high quality and comprehensive cancer care services. In May 2016, the company launched its new advanced comprehensive cancer centre in Baroda, under its subsidiary, HCG Oncology LLP. The Centre has a bed capacity of 65 beds and is one of the most advanced in terms of technology in the HCG network. HCG Manavata Oncology LLP was incorporated on August 10, 2016, under The Limited Liability Partnership Act, 2008 as a limited liability partnership firm. The Partners of the LLP are HCG and Dr. Rajnish Nagarkar, in the capital contribution ratio of 51:49, respectively. HCG Manavata Oncology LLP is authorised to primarily engage in the business of setting up hospitals at Nashik, Maharashtra with high end linear accelerators, pharmacy and matters incidental and ancillary thereto. In March 2017, HCG expanded its operations in Nashik.HCG through its subsidiary HCG Kenya signed definitive agreements in March 2017 to acquire a majority stake in Cancer Care Kenya (CCK) a leading cancer care centre in Nairobi, Kenya, subject to review and approval by the Competition Authority of Kenya (CAK) and other requisite approvals. CDC, the development finance institution of UK Government, which has partnered with HCG for Africa investments, would partner with HCG through HCG Kenya, an offshore subsidiary, for the acquisition. MP Shah Hospital, a leading tertiary care hospital in Kenya, will also participate in the transaction. CCK, which started operations in 2010, is the first comprehensive cancer centre in Kenya. CCK treats over a thousand patients annually including over two hundred patients from other African nations.During the year ended 31 March 207, the percentage of holding of Healthcare Global Enterprises Ltd in HCG NCHRI Oncology LLP increased from 51% to 76%.In May 2017, HCG launched its first cancer centre in Kanpur, the largest the state of Uttar Pradesh, under its subsidiary company, HCG Regency Oncology Healthcare Private Limited. HCG Regency Oncology Centre is equipped with 90 beds and features advanced radiation therapy, a multidisciplinary team of oncologists including subspecialists, as well as the first PETCT and bone marrow transplant unit.