HGS to divest healthcare services biz to BPEA
Puts enterprise value at $1.2 bn, The company will transfer all client contracts, employees, and assets, including infrastructure related to the healthcare services business
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Hinduja Group's business process management entity Hinduja Global Solutions Ltd (HGS) will divest its healthcare services business to funds affiliated with Baring Private Equity Asia (BPEA), based on enterprise value of $1.2 billion.
HGS has also seen its net profit more than double to Rs 117 crore, while operating revenues grew 25.5 per cent to Rs 1,550.5 crore in the June 2021 quarter from the year-ago period. "The transaction (with BPEA) based on enterprise value of $1,200 million, subject to closing adjustments, is expected to complete within 90 days, subject to shareholder and other regulatory approvals," HGS said in a filing late Monday night.
Post completion of this transaction, HGS will transfer all client contracts, employees, and assets, including infrastructure related to the healthcare services business.
