HealthCare Global Enterprises Limited (HCG) has executed a Second Amendment Agreement concerning the acquisition of Vizag Hospital and Cancer Research Centre Private Limited. The agreement formally extends the timeline for the Second Closing Date by 3 weeks. The acquisition involves taking over an additional 34% equity stake in Vizag Hospital. The original First Closing Date was October 02, 2024, and the amendment adjusts the timeline accordingly without material changes to the overall transaction structure.
Amendment to Acquisition Agreements
HealthCare Global Enterprises Limited (HCG) announced on March 29, 2026, that it has entered into a Second Amendment Agreement to the Share Purchase Agreement (SPA) and the Shareholders’ Agreement (SHA) pertaining to the acquisition of Vizag Hospital and Cancer Research Centre Private Limited.
Extension of Second Closing Timeline
The primary impact of this amendment is the extension of the timeline for the Second Closing Date. As per the original SPA, the Sellers were obligated to transfer an additional 34% (thirty-four percent) of Vizag Hospital’s equity share capital within 18 months of the First Closing Date.
The First Closing Date occurred on October 02, 2024. Consequently, the parties have agreed to extend this deadline by 3 weeks. The Company will now acquire the further 34% equity stake in Vizag Hospital prior to 18 months and 3 weeks passing since the First Closing Date.
Other Provisions Unchanged
It is confirmed that other than the revisions necessary to accommodate the extended timelines and related arrangements, no other material changes have been made to the operative terms of the existing SPA and SHA.
Source: BSE
