Evervie Health signs LOI with Sweden's Elekta for ten HARMONY linear accelerator systems worth $11M–$15M
Cancer care has become one of the most closely watched corners of healthcare because treatment depends so heavily on equipment. Radiotherapy machines are expensive, need trained teams and take time to install, so access often depends on where a hospital sits rather than what patients need. Large chains have long concentrated capacity in metro cities. That leaves smaller towns underserved and opens room for specialised operators willing to build there.
The Nifty 50 was trading at 23,036.15, up 0.64%. Meanwhile, Sensex also rose 0.73% to 74,392.90 on Wednesday. Meanwhile, Shares of PVP Ventures Ltd . were trading at Rs. 44.29 down 2.85% from previous close of Rs. 45.59. The stock opened at Rs. 45.00 and reached an intraday high of Rs. 45.50 and low of Rs. 44.30. The company currently has a market capitalization of Rs. 1,159 crores.
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What's the News
Evervie Health Limited signed a Letter of Intent on 20 October 2026 with Sweden's Elekta Solutions AB for ten HARMONY linear accelerator systems. The deal is expected to be worth between $11 million and $15 million, payable in Swedish krona. The machines will be operated by its subsidiary, Optimus Oncology. Delivery is planned in two lots of five units, tentatively finishing by October 2028.
The letter is a statement of intent, not a contract. It does not oblige Elekta to supply the equipment, and the deal still needs a definitive Purchase and License Agreement, approvals and financing. The company says the purchase is not a related-party transaction and that promoters hold no interest in Elekta. In the same filing, Evervie also moved to a new website, everviehealth.com, following its name change from PVP Ventures.
Financial & Business Analysis
Looking at the quarterly results of PVP Ventures Ltd., the company’s consolidated revenue from operations increased by 10.72 percent YoY, from Rs. 165.13 crore in Q1 FY26 to Rs. 45.63 crore in Q1 FY27, and decreased by 24.48 percent QoQ from Rs. 41.44 crore in Q4 FY26.
In Q1 FY27 PVP Ventures Ltd., consolidated net profit turned positive, reaching Rs. 11.06 crore compared to Rs. (0.11) crore during the same period last year. As compared to Q4 FY26, the net profit turned positive, from Rs. (3.19) crore. The basic earnings per share stood at Rs. 0.46 as against Rs. 0.01 recorded in the same quarter in the previous year, FY2026.
Evervie's revenue mix is in transition. The group has historically earned from real estate in Chennai and Hyderabad, and it has been steadily shifting toward healthcare services. I couldn't verify a current segment split, so treat the exact proportions as something to confirm from the latest results. What this order signals is clear: oncology is meant to become a core service line, not a side bet.
There is no order book in the way an EPC firm has one, so the clearest forward marker here is this planned equipment pipeline. Ten machines would give Optimus a large installed base to serve patients in smaller towns through hospital partnerships. A phased rollout lets capacity come online as centres open, instead of arriving all at once. The real tests are financing, regulatory clearances, rupee-krona exposure and how fully the machines get used.
Industry Context
This disparity is huge in India. It is estimated that approximately 58% of cancer patients should be treated with radiotherapy, but only 28.5% of them are treated. One study estimates that there are about 823 machines in use, which is 0.6 per million population, when 1,209 are needed. WHO suggests at least one in a million. The density is also not evenly distributed, with a range of 0.08 to 2.94 machines per million in the regions.
According to the GLOBOCAN 2022 estimates, there will be an estimated 1.4 million new cancer cases every year in India by 2022 and it will increase to 2.08 million by 2040. Elekta's HARMONY platform is already installed in hospitals in India like CHL Hospitals Indore, HCG Cancer Centre Jaipur, etc. Hence, the machine is proven. Evervie is tasked with putting that power where it is needed the most.
Company Overview
Evervie Health Limited, formerly PVP Ventures, was founded in 1991 and is based in Chennai with a corporate office in Hyderabad. It began in real estate and has since moved toward healthcare services. In April 2025 it agreed to buy a 56% stake in Optimus Oncology, a radiation and medical oncology player founded in 2018. Optimus works with local hospitals to set up cancer centres in Tier 2 and Tier 3 towns.