and for H1 FY24 of INR 9,476 Million, a growth of 14.4% (y-o-y)

EBITDA for Q2 FY24 of INR 864 Million, a growth of 13.8% (y-o-y) and 13.1% (q-o-q)

and EBITDA for H1 FY24 of INR 1,629 Million, a growth of 8.6% (y-o-y)

Bengaluru, 9^th November, 2023: HealthCare Global Enterprises Limited (“HCG”), the leader in India in speciality healthcare services focused on oncology and fertility today announced its financial results for the quarter (“Q2”) and half year ended FY24.

Highlights for quarter ended September 30^th, 2023

• Consolidated Income from Operations (“Revenue”) was INR 4,869 mn as compared to INR 4,200 mn in the corresponding quarter of the previous year, reflecting a year-on-year growth of 15.9%
• Consolidated Profit Before Depreciation and Amortization, Finance Costs, Exceptional Items and Taxes (“Adjusted EBITDA”) was INR 864 mn, as compared to INR 760 mn in the corresponding quarter of the previous year, a growth of 13.8% year-on-year
• Consolidated Profit Before Other Income, Depreciation and Amortization, Finance Costs, Exceptional Items and Taxes (“Reported EBITDA”), was INR 846 mn, as compared to INR 747 mn in the corresponding quarter of the previous year, a growth of 13.3% year-on-year
• EBITDA for Existing centers was INR 832 mn, a growth of 7% year-on-year
• EBITDA from New centers was INR 122 mn, as compared to INR 99 mn in the corresponding quarter of the previous year, a growth of 23%
• Consolidated Profit after Taxes and Minority Interest (“PAT”) of INR 136 mn, as compared to INR 74 mn in the corresponding quarter of the previous year, a growth of 83.9%

INR million except earnings per share

(1)       Adjusted EBITDA excluding ESOPs

(2)       PAT after Minority Interest

Business Updates for Q2 FY24

• Overall ARPOB stood at Rs. 42,054 vs. Rs. 36,914 in Q2 FY23
• Overall AOR stood at 63.6% vs. 66.4% in Q2 FY23
• RoCE (Q2FY24 Annualized)
  • RoCE for Mature centers stood at 21.2% vs. 21.8% in Q2FY23. RoCE pre-corporate allocations stands at 25.5%
  • RoCE for Emerging centers stood at -3.9% vs. -4.3% in Q2FY23. RoCE pre-corporate allocations stands at -0.8%
• Several regions delivered high double-digit revenue growth on yearly basis
  • Markets like Kolkata and Mumbai grew by 42% and 41% YoY respectively
  • Nagpur, Ranchi & Rajkot grew by 60%, 48% and 38% YoY respectively
  • Our International operations grew at a robust growth rate of 175% YoY
• Added 3 New LINAC machines
• Added 3 Robotics surgery machines in Mumbai, Kolkata & Baroda

Commenting on the results, Dr. B.S. Ajaikumar, Executive Chairman, HealthCare Global Enterprises Ltd.

said,

“Our performance for the quarter is yet another testimony of our consistent strides in moving up the value chain of outcome-driven cancer care. Led by our unique approach to treatment, path breaking clinical excellence, and intelligent technology adoption, we have deepened our understanding of the essence and progression of cancer and how it affects every patient differently. During the year, HCG Cancer Hospital Bengaluru initiated a ground-breaking pilot study for head and neck cancer patients with Low Dose Immunotherapy towards providing a cost-effective and safer therapy option. This study has the potential to be a game-changer in the sphere of head and neck cancer treatment and reflects HCG’s commitment to advancing research and academia in India. 

On the corporate front, our acquisition of SRJ CBCC Cancer Hospital in Indore is another cherished milestone in our expanding cancer care footprint across India. Through our unique hub and spoke model, we will continue to adopt a holistic approach to cancer care to continuously improve patient outcomes and quality of life.  

Today, cancer is fast becoming a chronic disease, and a sea change has occurred in the manner in which we stage cancer, how we adopt a multi-disciplinary approach to cancer care, and how we apply genomics and molecular diagnostics in this era of precision medicine to provide the right treatment the first time. Understanding the genomic correlation of response and resistance is helping us stratify patients and avoid the perils of under/over treatment.”

Mr. Raj Gore, CEO HealthCare Global Enterprises Ltd., added, “HCG’s unwavering commitment to expand patient outreach, bolstering capacity, and maximizing utilization, has resulted in remarkable performance for the 2nd quarter of fiscal year 2024. Our revenues witnessed a 16% growth on a year-on-year and stood at Rs. 486 crores. Additionally, our EBIDTA (excluding ESOP cost) amounted to Rs. 86 crores an increase of 14% Y-o-Y with margins standing at 17.8%.

We have embarked on our inorganic journey in the quarter gone by. After successful consummation of Nagpur and Indore hospital acquisition, we have initiated the process of integrating systems, processes & operations to be carried out the HCG way in these hospitals with an objective to enhance and extend our cancer care services throughout the state of Madhya Pradesh, meeting the urgent need for comprehensive, high-quality healthcare in the region.

We are optimistic of revenue uptick and margin expansion on the back of operational efficiencies, synergies and patient volume uptick on account of the promise brand HCG carries for cancer care across the country.

As we look forward, our vision extends beyond mere treatment; it’s about rewriting the narrative of cancer, making quality care accessible to all, irrespective of the challenges they face.”

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Indore, 4th October 2023: Healthcare Global Enterprises Limited (HCG), the largest cancer care network in India, today announced the strategic acquisition of SRJ CBCC Cancer hospital in Indore. This acquisition marks HCG’s entry into the key geography of Madhya Pradesh enhancing its commitment to delivering world-class cancer care across India. HCG further plans to expand by adding 100 beds and state of art cancer diagnostic and treatment facility within an estimated operational timeline of 2 years, demonstrating a commitment to meeting the region’s healthcare demands. With its entry into the 10th state, HCG is now a network of 21 comprehensive cancer centers with 24 hospitals across India and Africa, and 8 Daycare centres.

SRJ CBCC Cancer Hospital is centrally located and is the city’s first comprehensive cancer Centre and is currently the market leader in private space. The hospital has 50 Cancer Care beds and houses state-of-the-art LINAC machine. The acquisition also unlocks opportunities for operational scale-up, including the introduction of organ-specific practices and the introduction of next-gen cancer care technologies.

Dr. B. S. Ajaikumar, Executive Chairman, Healthcare Global Enterprises Limited, said, “This milestone marks our entry into this vibrant healthcare market and underscores our unwavering commitment to delivering world-class cancer care. We believe in the potential of this acquisition to make a meaningful impact on the lives of countless patients and further our mission of ensuring accessible and exceptional cancer care across India. Our team’s commitment and SRJ CBCC Cancer Hospital’s established tradition of excellence make us ready to revolutionize oncology care in Indore and the surrounding areas.”

Speaking at the occasion, Mr. Raj Gore, CEO, Healthcare Global Enterprises Limited, said, “We are thrilled to extend our presence in Madhya Pradesh, the heart of Incredible India. Entering Indore, we aim to find more opportunities to address the critical gap in cancer care in Madhya Pradesh. Our endeavor is to make the most advanced and comprehensive cancer treatment available to patients and provide longer and better quality of life to each patient without having to travel miles for it. We would be extending our network strength of renowned oncologists’ and largest Tumor Board in the country to Indore and Madhya Pradesh. Patient outcome is of paramount importance to us and we ensure that all our clinical and non-clinical resources are channelized and geared towards patient care.”

India faces a significant challenge of a large cancer incidence burden which continues to grow further. Madhya Pradesh accounts for sizable share of cancer incidence in India with high prevalence of Head & Neck and Tongue cancer in Men and Breast and Cervix cancer in women.

HCG has been in pursuit of cancer diagnostic and treatment since 1989, it set up its first Cancer Centre in Bangalore. All the 21 cancer centers of HCG provide comprehensive diagnostic and treatment facilities. Recognized for innovative treatment protocols, cutting-edge diagnostic and treatment technology, and exceptional patient outcomes, HCG has provided exemplary care to millions of patients since its inception. Patients benefit from a multi-disciplinary approach to cancer care, spanning prevention, screening, second opinions, diagnosis, treatment, rehabilitation, and palliative or supportive care. With this HCG is set to revolutionize cancer treatment for cancer patients in Indore.

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HCG Cancer Centre Jaipur has been at the forefront of the battle against cancer, harnessing the expertise of highly skilled specialists and leveraging advanced technology to lead the combat. The introduction of Elekta Harmony Pro is a remarkable milestone in the center’s mission to provide world-class oncology care. It enables personalized and high-quality care for a broader spectrum of patients across North India.

The Elekta Harmony Pro Radiotherapy Platform is designed to deliver precise and efficient radiation therapy tailored to each patient’s unique needs. This advanced technology integrates precision, speed, and comfort to deliver highly targeted radiation therapy for cancer patients, also by reducing side effects and delivering treatment accuracy, thereby improving the overall quality of life for cancer patients. HCG is committed to delivering personalized care, and this technology will further elevate its ability to offer patient-centric treatment plans.

Speaking at the occasion, Mr. Raj Gore, CEO, Healthcare Global Enterprises Limited, said “HCG has been a pioneer in making comprehensive quality care accessible, affordable, and equitable to cancer patients across metro and non-metro cities. We have a consistent track record of being the first to introduce many advanced technologies in India to provide precise and personalized treatment tailored for each cancer patient. The introduction of the Elekta Harmony Pro Radiotherapy Platform marks another significant stride in this direction. We are honoured to have earned the trust of our patients in this great state of Rajasthan and we are committed to upholding that trust every day by extending and improving their lives.”

Dr. Bharat Gadhavi, Regional Director, Gujarat & Rajasthan, Healthcare Global Enterprises said, “We are honored to introduce Elekta Harmony Pro, a new standard in cancer care at HCG Cancer Centre Jaipur. Technology embodies the intersection of medical excellence and technological innovation, providing clinicians with a powerful tool to deliver personalized, targeted therapies that maximize the chances of recovery for patients. This milestone underscores our unwavering commitment to providing the best possible treatments and personalized care for those in need. We remain steadfast in our commitment to making a meaningful impact on the lives of cancer patients and their families.”

Speaking at the launch Mr. Bharat Rajpurohit, COO, HCG Cancer Centre Jaipur, said “Today, we mark a significant milestone in the advancement of cancer care in North India. The introduction of Elekta Harmony Pro at HCG Cancer Centre Jaipur exemplifies our commitment to providing cutting-edge treatments and elevating the standard of care for cancer patients. With the state-of-the-art system and cutting-edge technology, we are poised to revolutionize cancer treatment, offering precision, efficacy, and hope to enhance the lives of cancer patients”.

The launch of the Elekta Harmony Pro Radiotherapy Platform will mark a new chapter in the fight against cancer and serve as a testament to HCG Cancer Centre’s unwavering commitment to its mission. HCG Hospital Jaipur is the only comprehensive cancer care center in Rajasthan with all the facilities under one roof. The hospital provides ultra-modern cancer therapy to all patients with state-of-the-art technology backed by research and has consulted 1 lakh plus patients in the span of 5 years. The diagnostic facility contains cutting-edge nuclear imaging procedures – PET-CT (Positron Emission Tomography-Computed Tomography), which is a unique combination of metabolic and functional imaging (PET part) along with structural information (CT part).

The post HCG Cancer Centre Jaipur unveils North India’s first-of-its-kind advanced Cutting-Edge Elekta Harmony Pro Radiotherapy Platform for Cancer treatment appeared first on newsmantra.in l Latest news on Politics, World, Bollywood, Sports, Delhi, Jammu & Kashmir, Trending news | News Mantra.