Bangalore, May 6, 2008: Mumbai based HealthCare Global Enterprises (HCG), a oncology care firm has received $20 million from PremjiInvest, a fund sponsored by Azim Premji, founder of Wipro.
HCG said the fresh funding would help it to enlarge its vision of backward integration in cancer management on a pan-India basis and realize its dream of making cancer treatment accessible to all segments of the society. The additional financial muscle would also enable the corporate hospital to adopt global innovations in the diagnosis; treatment and management of cancer, besides aggressively pursuing its “Hub and Spoke” model of cancer care centers nationally.
Dr. Ajai Kumar, Chairman & CEO, HCG, said, “The investment from PremjiInvest would enable us ramp up fast across various geographies besides enhancing our core research initiatives and bring cutting-edge technologies & treatment modalities. We value their operational expertise in creating world class businesses, best practices & technology and look forward to forge a strong relationship with them.”
Prakash Parthasarathy, Chief Investment Officer, PremjiInvest, said, “Health care in India is going through rapid transition and need for top quality specialized medical care is increasing. HCG already has strong credentials in oncology care, a highly accomplished medical team and a committed management under Dr. Ajai’s leadership. We are honored to be part of this passionate organization addressing a critical gap in the county’s infrastructure.
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