HealthCare Global Enterprises

Founded in 1989, HCG is the #1 oncology services business in India, with 22 cancer care centers / ~2.5k beds, across 19 cities. It has the largest network of oncologists (440+) and LINACs (40+) in the country, addressing the entire value chain from diagnostics, treatment (across surgery, medical oncology and radiation) and post-care. In FY’25 (march year ending), the business is on track to deliver revenues of ~$275mn (~15% FY20-25E CAGR) with an EBITDA of ~$52mn (~19% margin).