HealthCare Global to sell diagnostic business Triesta for Rs 135 crore

Bengaluru-based HealthCare Global (HCG) has announced the sale of its diagnostic business, Triesta, to its wholly owned subsidiary, HCG NCHRI (Nagpur Cancer Hospital and Research Institute) Oncology. Additionally, the PET-CT and Cyclotron business located in Chennai will be transferred on an undertaking basis. The transaction, valued at Rs 135 crore, is expected to be completed by December 1, 2024.

 

The strategic intent behind the sale is to unlock the value of services through a more focused approach, driving accelerated growth by capitalising on opportunities beyond the scope of the captive business.

 

HCG reported a consolidated net profit of Rs 20.68 crore in the second quarter of financial year 2025, as against Rs 10.78 crore in the same quarter of the previous year. Total revenue in Q2 stood at Rs 567.47 crore, up 15.15 per cent.

 

 

B S Ajaikumar, executive chairman, HealthCare Global Enterprises, said, “As we look to the future, HCG remains committed to pushing the boundaries of cancer treatment through the integration of advanced technologies and patient-centric innovations. With initiatives like Virtual OPD and centralised genomics, we aim to make high-quality cancer care more accessible and precise, providing patients with cutting-edge diagnostics and treatment plans tailored to their unique needs. Our journey is made possible by the trust our stakeholders place in us, and we remain dedicated to advancing value-based cancer care across our growing network.”

 

Moreover, the group’s consolidated adjusted Ebitda was Rs 104.2 crore, compared to Rs 86.4 crore in the corresponding quarter of the previous year, an increase of 21 per cent year-on-year.

 

HCG's Ebitda from established centres was Rs 113.1 crore, reflecting a 20 per cent year-on-year growth. Ebitda from emerging centres stood at Rs 3 crore, up from Rs 0.6 crore in the same quarter of the previous year. Consolidated profit after tax (PAT) was Rs 18 crore, compared to Rs 13.6 crore in the corresponding quarter last year, marking a 33 per cent year-on-year increase.

 

HCG's ARPOB (average revenue per occupied bed) grew 7.4 per cent annually to Rs 45,188, while AOR (average occupancy rate) slightly declined to 65.6 per cent. Key markets, including Kolkata (66 per cent) and Ongole (46 per cent), saw strong year-on-year growth. HCG Ahmedabad Phase III was operationalised, and five units received NABH Digital Health Accreditation. Asset-light strategies, including PET machines and CyberKnife replacement, were implemented in Q2 FY25.

 

“Our digital initiatives have significantly boosted our patient funnel, raising digital channel revenue to 14 per cent of overall revenue in Q2, up from 4 per cent last year. We aim to achieve 25 per cent of revenue through digital platforms over the next 3-5 years. In addition, our strategic acquisition of MG Hospital in Vizag is progressing well and in line with our expectations. This acquisition has been instrumental in enhancing our footprint in the region, allowing us to further expand our services and strengthen our presence in one of the key markets for cancer care,” said Raj Gore, chief executive officer, HealthCare Global Enterprises.

 

“Going forward, we aim to increase our presence across the country while scaling operations at our existing centres with a view to provide the best cancer care to the people of the country. Additionally, we plan to establish more Centres of Excellence in the coming years, equipped with state-of-the-art medical infrastructure and top clinical talent,” added Gore.