However, it is still unclear if Premji Invest would invest more in HCG, or whether a new fund would step in.
BY OUR HOSPITALITY BUREAU | NEW DELHI: HealthCare Global Enterprises (HCG), the Bangalore-based cancer hospital chain, is understood to be looking at a merger with Kolkata-based Medica Synergie, in a deal estimated at Rs 300 crore.
Premji Invest, the Azim Premji-owned, $1.5-billion private and public equity fund, is an investor in HCG.
HCG is a Rs 400-crore, 1,600-bed hospital chain, while Medica has two hospitals in Kolkata and Siliguri, with close to 450 beds. Medica also has a few other franchisee hospitals.
The managements of both the hospitals said they were exploring strategic partnerships.
They, however, declined to comment on the merger.
ICICI Venture arm I-Ven Medicare, which has invested close to Rs 70 crore in Medica, is expected to exit in the merger.
Religare-Milestone Private Equity is another investor in HCG, while IDFC Private Equity and Evolvence Private Equity had earlier invested in the company.
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