Max India may buy Life Healthcare's stake in JV after valuation process

Max India on Monday said its board will consider buying out its equal partner in healthcare business, Life Healthcare Group Holdings, from Max Healthcare only after completion of valuation of their joint venture.

In February this year, Max India had informed stock exchanges that Life Healthcare Group Holdings had initiated preliminary discussions with it to explore the possibility of acquisition of the South Africans firm's shares in Max Healthcare Institute.

"The Board of Directors of Max India will consider the concrete proposal as and when the process of valuation of the shares of Max Healthcare Institute Ltd is completed...," Max India said in a filing to BSE.

It is understood that Life Healthcare Group Holdings is currently undertaking the valuation process.

The relevant disclosure, if any shall be made with stock exchanges within the time prescribed, Max India added.

Max Healthcare is among the top healthcare chains in the country with around 14 hospitals.

Shares of Max India Ltd were today trading at Rs 85.05 per scrip in the afternoon trade on BSE, up 1.73 per cent from its previous close.