HealthCare Global back in black after 3 years

HealthCare Global Enterprises Ltd (HCG), one of the largest cancer care providers in India with its network of 22 comprehensive cancer centers across the country and Africa, has announced a net profit of Rs 103.1 crore on revenue of Rs 352 crore in the states United. The second quarter of the current fiscal year.

The Bengaluru-based HCG operates seven fertility centers under the Mylan brand. StrandLife Sciences is another subsidiary of HCG that offers accurate diagnostics, apart from bioinformatics and genomic testing in India.

More international patients
The company returned to profitability after 13 quarters. Commenting on the results, Dr. B.S. Ajikumar, CEO of HCG Group, said: “The company has delivered ground-breaking revenue growth in the quarter, also supported by improved profitability, particularly among new positions that are not yet at the maturity stage of operations. The growth that lies ahead in the local business is very strong and we are also seeing a shift in the number of international patients visiting our centers as travel restrictions ease.”

The CEO added: “Milan has also done well with 57 per cent growth on the back of a new leadership team backed by our focus on digital connectivity that drives us.”

“Overall, HCG is very uniquely positioned with a robust pipeline as well as an unsupported balance sheet for superior growth and profitability but with a clear focus on tangible results for all our stakeholders, most importantly our patients to whom positive disease outcomes have the best return,” he said.

Raj Gaur, CEO of HCG, said: “We generated our highest EBITDA of any quarter ever in our history. I would like to point out that over the past three quarters, we have consistently delivered our highest revenue. It is the first quarter after 13 quarters where PAT is back in positive territory. The result shows our entire team’s focus on driving growth and operational efficiencies that we are confident will continue in the coming quarters.”
MB Bureau