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Max Healthcare Institute Ltd on Thursday said it will invest over Rs 1,000 crore to set up a 450-bed super speciality hospital in Pune.
The facility, situated in Yerawada, Pune, will mark the company's foray into the city and is expected to be commissioned over the next 3 years, Max Healthcare Institute Ltd said in a statement.
The hospital will be the company's fourth facility in Western India.
The company said its investment involves staggered acquisition of a 100 per cent equity stake in Yerawada Properties Pvt Ltd (YPPL), Pune and further development of the hospital over the course of next three years.
"This proposed hospital will bring advanced medical care closer to patients in the region. Our entry into Pune is a strategic milestone for Max Healthcare and aligns with our long-term vision of expanding our presence in key healthcare markets across the country," Max Healthcare Institute Ltd Chairman and Managing Director, Abhay Soi said.
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Stating that Pune is one of India's fastest-growing urban centers with a strong economic base and rapidly expanding middle-class population, he said there is a growing need for a high-end super speciality hospital equipped with state-of-the-art technology.
"We see this as first amongst the few that we intend to establish in this market," Soi said.
Max Healthcare currently operates 20 healthcare facilities with over 5,200 beds and has a significant presence in North India.
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