Hinduja Global Solutions sells healthcare division to Barings PE Asia for Rs 8,906 crore
Hinduja Global Solutions (HGS) has announced the sale of its healthcare services business to Barings Private Equity Asia.
![Hinduja Global Solutions sells healthcare division to Barings PE Asia for Rs 8,906 crore Hinduja Global Solutions sells healthcare division to Barings PE Asia for Rs 8,906 crore](https://cdn.zeebiz.com/sites/default/files/styles/zeebiz_850x478/public/2021/08/10/156153-untitled-design-41.jpg?itok=Ogw7JK0v&c=c5af8c0f92ccc8e249257bf0f1cb18e8)
Hinduja Global Solutions (HGS) has announced the sale of its healthcare services business to Barings Private Equity Asia for an enterprise value of 1.2 billion dollars (about Rs 8,906 crore).
The transaction subject to closing adjustments is expected to complete within 90 days, subject to shareholder and other regulatory approvals.
See Zee Business Live TV Streaming Below:
"Our healthcare services business has steadily grown over the years. We reached a stage where we could recommend to promoter to divest stake in this business to unlock value for all HGS stakeholders," said Global CEO Partha DeSarkar.
The healthcare services vertical has over 20,000 employees across four geographies -- India, the Philippines, the United States and Jamaica -- and recorded revenues of 400 million dollars in FY2021.
Post completion of the transaction, HGS will transfer all client contracts, employees, and assets including infrastructure related to the healthcare services business.
DeSarkar said the company will use the generated funds to strategically invest for future growth of organisation.
"We see a long-term value and benefit to HGS in doing so. The company will continue to focus on aggressively expanding its consumer engagement solutions and digital businesses in line with our goal to transform itself into a digitally-enabled customer experience company," he said.
HGS is the business process management entity of Hinduja Group, one of India`s premier diversified and transnational conglomerates with over two lakh employees and presence across 38 countries.
Barclays Bank Plc acted as the sole financial advisor to HGS on the transaction.
Baring Private Equity Asia is one of Asia`s largest private alternative investment firms with assets under management of 23 billion dollars.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES
![https://www.zeebiz.com/markets/stocks/photo-gallery-large-cap-midcap-stocks-shares-to-buy-for-long-term-check-out-targets-nifty-sensex-303617](https://cdn.zeebiz.com/sites/default/files/styles/zeebiz_700x394/public/2024/07/25/306716-stockks.jpg?itok=KJTrFUIK)
Stocks to buy for long term: Analysts suggest buying these 5 largecap, 4 midcap scrips; check out targets
![https://www.zeebiz.com/personal-finance/photo-gallery-nps-retirement-planning-budget-2024-nirmala-sitharaman-announcement-how-nps-rulebook-change-can-increase-corpus-income-and-monthly-pension-by-40-compound-return-303984](https://cdn.zeebiz.com/sites/default/files/styles/zeebiz_700x394/public/2024/07/26/307102-indian-currency-pixabay-take.jpg?itok=kN21EW-9)
How your NPS retirement corpus and monthly pension can jump by 40% after this rule change; get details
![https://www.zeebiz.com/personal-finance/photo-gallery-senior-citizen-savings-scheme-scss-2024-interest-rate-calculator-post-office-how-to-get-inr-rs-50000-interest-retirement-planning-guaranteed-return-maturity-amount-small-savings-303930](https://cdn.zeebiz.com/sites/default/files/styles/zeebiz_700x394/public/2024/07/26/307042-fd-interest-file.jpg?itok=45ZbBRWM)
How much investment do you need in this senior citizen scheme to get Rs 50,000 quarterly interest? Know here
12:07 PM IST