Mutual Funds Commodities Research Tax Planning IPO Our Team Contact Us  
Google
Web www.equitybulls.com
Stock Report

| More

Max Healthcare announces acquisition of JCI-Accredited 200 bedded Alexis Hospital, Nagpur

Posted On: 2024-02-09 22:44:38 (Time Zone: IST)


Max Healthcare Institute Ltd. (MHIL, 'the Company'), one of India's largest private healthcare providers today announced the acquisition of 100% stake in Alexis MultiSpeciality Hospital Private Limited (Alexis) for an Enterprise Value of INR 412 Crores.

The 200 bedded hospital owned & operated by Alexis is a JCI accredited facility located on a land parcel of ~2 acres at Mankapur, North of Nagpur - an upmarket residential and commercial hub. The hospital has G+6 floors and a basement with built up area of ~2.25 Lakh sft and offers multidisciplinary care in the areas of Gastroenterology, Neurosurgery, Cardiology, Transplants, related diagnostic facilities etc. The hospital is equipped with high end bio medical equipment like Varian True Beam LINAC, 128 Slice CT Scan, 3 Tesla MRI, Digital X Ray, ARTIS Q Cath Lab, etc.

The bed capacity can be expanded to ~340 beds in view of the availability of the FAR for the given land and the strength of the existing structure. Further, the hospital medical program can be further strengthened in the surgical specialties like CTVS, Urology, Oncology & Neurosciences leading to improvement in average revenue per occupied bed (ARPOB) and occupied bed days(OBD).

The current run rate of Revenue & EBITDA for the Hospital is INR ~150 Cr & ~25 Cr respectively. The hospital is generating cash & has good brand equity in the market in the region.

Nagpur is a fast growing city with a population density of 47L & high literacy rate (~90%). The city is strategically located in the heart of Maharashtra & experiences drainage from adjacent regions like Amravati , Jalgaon, Gondia, Chhindwara, etc. Further the city has availability of experienced medical talent owing to presence of government hospitals, medical colleges and private healthcare players.

This acquisition further strengthens Max Healthcare's footprint in Western India and will enable provisioning of best in class clinical care to all patients in the region.

Commenting on the acquisition, Mr. Abhay Soi, Chairman and Managing Director, Max Healthcare Institute Ltd.,said: "The acquisition of Alexis Hospital is in line with our vision to expand our footprint in tier 2 cities with abundance of clinical talent and developed private healthcare infrastructure. Alexis Hospital acquisition will strengthen our presence in Maharashtra Region. With this addition, we now have 4 JCI accredited facilities in our network & we look forward to bringing the high-end quality care to people of the region."

Commenting on the transaction, Mrs. Zanubia Shams, Co-Chairperson of Zulekha Healthcare Group (Promoter of Alexis Hospital, Nagpur), said: "We are very pleased that Max Healthcare, India's leading healthcare service provider, is acquiring our hospital in Nagpur. While we have built a worldclass hospital facility, at par with the best, in infrastructure, technology, and clinical services, our decision to consider divesting this business has been driven by our strategic focus on our healthcare businesses in the UAE and Gulf. We strongly believe that Max will further build on the quality of care we have been providing in this growing city in Central India and take Alexis to a higher level."

The share purchase agreement for acquisition of Alexis Multi-Speciality Hospital Private Limited is being consummated forthwith.

Shares of Max Healthcare Institute Limited was last trading in BSE at Rs. 874.20 as compared to the previous close of Rs. 870.05. The total number of shares traded during the day was 2573215 in over 4372 trades.

The stock hit an intraday high of Rs. 883.55 and intraday low of 859.10. The net turnover during the day was Rs. 2233788751.00.


Click here to send ur comments or to feedback@equitybulls.com





Other Headlines:

The South Indian Bank Ltd approves 1:4 rights issue at Rs. 22 per share

Club Mahindra partners with The Marmara ?i?li Resort in Turkey to provide its members with holiday options in Istanbul

PVP Ventures Ltd announces a Joint Development with Brigade Enterprises Ltd

Mangal Credit and Fincorp Ltd approves preferential issue

Vikas Lifecare Ltd's Subsidiary PME Entertainment Presents Two Spectacular Events in Dubai

Genpharmasec Limited allots 27,68,59,850 Rights Equity Shares

Dow Jones and Infosys Introduce Upgraded Preference Center for Wall Street Journal Subscribers

Union Bank of India sanctions OTS of Kridhan Infra Ltd

Ceinsys Tech Ltd receives order

Ashiana Housing Ltd launches Phase 1 of Ashiana Nitara

Apollo Micro Systems Ltd receives term loan sanction from SBI

Brigade Group to expand its Residential and Hospitality Portfolios in Chennai

LTIMindtree and Eurolife FFH Sign MoU to Setup Gen Al and Digital Hubs in Europe and India

63 moons unveils disruptive technology in Cybersecurity

Airtel strengthens its retail footprint in Vijaywada

TVS Eurogrip exhibits prominent agri related products at Krishi Darshan Expo in Haryana

Infosys Foundation and the Centre for Cellular and Molecular Platforms to Strengthen Maternity Care in Karnataka

Mafatlal Industries Limited's Annual Report wins Platinum Award

Ambuja Cements Proposes Setting up a 4 MTPA Cement Grinding Unit in Godda, Jharkhand

Airtel adds 39 new stores in Chennai, doubles its retail store presence

PennWhite Limited, UK forms subsidiary in India

UltraTech Cement Limited commissions 1.8 MTPA brownfield cement capacity at Kotputli, Rajasthan

HFCL to Expand Presence in Europe with setting up of Optical Fiber Cable Plant in Poland

Vipul Organics participates in PAINTINDIA, the largest paint exhibition of the country

Ericsson and Airtel successfully demonstrate 5G FWA functionality on mmWave

Co-op Expands Partnership with TCS with a Cloud-First Strategy to Support its Business Growth and Sustainability Roadmap

Popeyes India brings a dash of Louisiana to the heart of Delhi with its first store in Chandni Chowk

Patel Engineering Ltd JV declared L1 for irrigation project worth Rs. 525.36 crores

Cosmo First wins two prestigious awards

Airtel adds 4 new stores, doubles its retail store presence in Bhubaneshwar

Zen Technologies Ltd receives order worth Rs. 93 crores

Lumos selects STL as a partner to build transformative 100% fiber optic internet infrastructure in the US

BluSmart inks multi-year PPA with Tata Power arm

Zaggle Prepaid Ocean Services Ltd enters into agreement with Arcadis Consulting

CarLelo unveils new brand identity at Women Premier League 2024

Airtel doubles its retail store presence in Amritsar, adds 3 new stores

G R Infraprojects Ltd to sell 7 subsidiaries to Bharat Highways InvIT

Bright Outdoor Media Ltd gets BSE nod for preferential issue

Valiant and CXR cooperation for Cyber Security solutions in France and neighboring European countries

Kilburn Engineering Ltd expands portfolio with acquisition of M.E Energy

Seedlings India Pvt Ltd gets patent

Garment Mantra Lifestyle Ltd to set up new wholesale hub in Surat

Satin Creditcare forays into Telangana and Andhra Pradesh

Revolt Motors accelerates presence with 15 New Dealerships Across India

Wipro and Intel Foundry announce new collaboration to Advance Chip Design and Development

Godrej Industries Limited - Chemicals features in The CDP Climate Change Leadership Index

ESAF Small Finance Bank gets ISO certification for operations

ABB India reports net profit of Rs. 338.66 crores in Q4 CY2023

IMplus Capitals Ltd consolidated Q3 FY24 net profit at Rs. 41.86 crores

GR Tarakote Sanjichhat Ropeway Pvt Ltd signs concession agreement with Shri Mata Vaishno Devi Shrine Board


Website Created & Maintained by : Chennai Scripts
West Mambalam, Chennai - 600 033,
Tamil Nadu, India

disclaimer copyright © 2005 - 2020