CVC Capital mulls selling stake in Indian healthcare firm – Bloomberg News

BENGALURU (Reuters) – Private equity firm CVC Capital Partners is considering selling a 60.4% stake in Indian cancer hospital chain HealthCare Global Enterprises, Bloomberg News reported on Tuesday, citing people familiar with the matter.

The stake is worth about $345 million and CVC may seek a premium of 20% for the shares or go as high as 50% depending on market conditions, the report said.

CVC Capital and HealthCare Global did not immediately respond to Reuters requests for comment.

The Bengaluru-based cancer hospital chain owns over 24 cancer centers across India and serves more than 200,000 patients every year, according to its website.

Private healthcare is booming in India due to a growing population and rising disposable incomes. Global consultancy firm PwC projects 12% to 14% annual growth for India’s private healthcare market currently worth around $48 billion.

(Reporting by Kashish Tandon in Bengaluru; Editing by Shinjini Ganguli and Devika Syamnath)