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Milestone Religare invests in HCG
25 February 2010: Milestone Religare Investment Advisors Ltd, a joint venture between Milestone Group and Religare Enterprises, has reportedly invested Rs 31.2 crore in The HealthCare Global Enterprises (HCG), a Bangalore headquartered pan-India chain of super-speciality cancer care hospital chain.
HCG has so far received PE funding from PremjiInvest of around Rs 40 crore, from IDFC of Rs 55 crore and from Evolvence, Rs 25 crore.
Milestone Religare has made the investment from the India Build-Out Fund-I, which is a Rs 600 crore private equity fund focussing on education and healthcare infrastructure. This takes Milestone Religare’s investment in the healthcare sector to around Rs 100 crore. Equirus Capital acted as the advisor to HCG on this transaction.
Source: Business Standard