Sabre Partners, through its funds Spring Healthcare and Sabre Partners Fund IV, has invested Rs. 50 cr in Healthcare Global Enterprises Limited (“HCG”).
HCG has been funded by several private equity players in the last 10 years and has raised close to Rs. 290 cr. These include Temasek, Premji Invest, Quadria and Evolvence Life Sciences.
HCG proposes to utilize the funds for purchase of medical equipment, investment in IT software, services & hardware, pre-payment of debt and general corporate purposes.
HCG, based out of South India is a provider of specialty healthcare focused on cancer treatment having 16 comprehensive cancer centres, 4 freestanding diagnostic centres and 1 day-care chemotherapy centre spread across 14 cities in India. It is currently setting up 12 comprehensive cancer centres which are under various stages of development. In 2013, the Company also forayed into infertility space by acquiring an infertility clinic chain to further expand its line of operations.
About Healthcare Global Enterprises Limited
HealthCare Global Enterprises Ltd. owns and manages a network of cancer treatment centers in India. It offers cancer care services including chemotherapy, diagnostics services, imaging services, research services and clinical trials services. The firm offers services of clinical labs, diagnosis, radiation oncology and surgical oncology. Through its Milann brand, HCG also offers fertility treatment services. HCG was founded in 1998 and is based in Bengaluru, Karnataka.
About Sabre Partners
Sabre Partners was founded in 2003 by Rajiv Maliwal and other professionals, to build a high quality investment business by selectively seeking proprietary transactions in companies of various sizes, including start-ups, growth capital and buyouts. Till date they have invested over $360 million in India and harvested over $1.6 billion over the past twelve years. One of their best known investments was in the restructuring of Centurion Bank, which they subsequently sold to HDFC Bank.
Spring Healthcare is a fund promoted by Sabre Partners which invests into healthcare services businesses. It looks to make investments into hospitals, diagnostic chains, medical devices, clinical research, drug discovery companies, alternative medicine and other healthcare service providers. Apart from this investment in HCG, it has also made investments in SRL, Oyster & Pearl Hospitals, Global Hospitals and Vyome Biosciences among others.
Sabre Partners has recently raised the bulk of the second healthcare fund called Sabre Partners Fund IV and has begun investing from this fund. The fund will largely focus on the healthcare sector, which would be in line with Sabre Partners thematic approach towards investing in India. The fund will also look at investment opportunities in clean technology—renewables and waste management. Apart from this investment in HCG, it has also made investments in SRL.
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