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Home / BUSINESS / HCG inks agreement to acquire 48.5% shareholding in Strand Life Sciences

HCG inks agreement to acquire 48.5% shareholding in Strand Life Sciences

HealthCare Global Enterprises (HCG) has entered into definitive agreements providing for a business combination of its Triesta Sciences business unit (Triesta Sciences), with Strand Life Sciences, a company incorporated under the Companies Act, 1956.

The company has entered into a Business Transfer Agreement (BTA), a Share Subscription Agreement (SSA) and a Shareholders’ Agreement (SHA) with Strand Life Sciences in relation to the proposed Business Combination. The BTA provides for the transfer by the company to Strand Life Sciences of the Triesta Sciences business unit, and the SSA provides for the issue of shares of Strand Life Sciences to the company in consideration thereof, resulting in the company acquiring 48.5% shareholding in Strand Life Sciences on a fully-diluted basis post the Business Combination.

HealthCare Global Enterprises (HCG) is the largest provider of cancer care in India. Through its network of 15 comprehensive cancer centres spread across India, HCG has brought advanced cancer care to the doorstep of millions of people.

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