In an attempt to streamline its various activities, Max India has divided all its businesses""business units, joint ventures and investments""under six heads: healthcare, financial services, information technology, pharmaceuticals, speciality products and telecom.
"This will help make sense of the 15 odd areas where we have presence," Max India vice-chairman Analjit Singh told Business Standard.
Of the six divisions, Max India has identified the first three"" healthcare, financial services and information technology""as the thrust area for the future. Over the next 4 to 5 years, the company plans to invest Rs 675-750 crore in the three sectors.
Healthcare includes the healthcare division of Max India, which in the future may be spun off into a fully-owned subsidiary, and the company's foray into clinical research. To this effect, it has set up two companies abroad: Neeman Medical International Plc in the UK and Neeman Medical Interna- tional Inc in the US. Next on the cards is a company each in South America and Africa. In September last year, Max India had set up a company in India called Neeman Medical International (Asia) Ltd to carry on the business in the country.
Under financial services falls life insurance company Max New York Life, Max India's 74:26 joint venture with New York Life. According to Singh, other initiatives might be brought under the head in the future. "Depending on our success with asset management in life insurance, we can leverage the skills to get into other forms of asset management like mutual funds," Singh said.
In infotech, the company has clubbed together its three subsidiaries""connectivity solutions provider Comsat Max, IT services and solutions company Max Mind Crossing and medical transcriptions company Health Scribe India ""and its 22 per cent investment in the Alta Cast of the US, 15 per cent stake in Mind Crossing again of the US and the 30 per cent shareholding in electronic components distribution company Avnet Max.
Pharmaceuticals includes Max India's pharmaceuticals division and its 26 per cent stake in Max GB. Max GB, in turn, holds a 50 per cent stake in Hindustan Max GB.
The speciality products division has the company's BOPP division and Max Atotech, Max India's 50:50 joint venture with Atotech.
Lastly, the telecom division has the company's 61:39 joint venture with AIG, Max Tele Ventures. This company, in turn, holds a 10 per cent stake in Hutchison Max. This stake has been valued at around Rs 110 crore.
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