Max to invest Rs 230 crore to set up 250 bed hospital in Mohali
Delhi-based group plans to double overall capacity by adding 4,200 beds in four to five years
Last year, GQG Partners had acquired shares of hospital chain Max Healthcare Institute in a bulk deal for Rs 415 crore through an open market transaction
Nifty Healthcare has outperformed Nifty50 and some individual healthcare stocks have doubled investor wealth in FY24
Acquisition strengthens presence in Maharashtra and part of strategy to expand in Tier-II cities, says Max Healthcare
Max Healthcare Institute on Friday said it has acquired Nagpur-based Alexis Multi-Speciality Hospital Pvt Ltd for Rs 412 crore. The 200-bed hospital is set up on a land parcel of 2-acre at Mankapur, north of Nagpur. The facility has potential to increase its bed capacity from 200 operational beds to 340 beds after necessary regulatory approvals. "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," Max Healthcare Institute Chairman and Managing Director Abhay Soi said. Alexis Hospital acquisition will strengthen company's presence in Maharashtra region, he added. Shares of Max Healthcare were trading at a loss of 0.42 per cent at Rs 866.4 apiece on the BSE.
Max Healthcare highlighted that above figures do not include the revenues from three of its hospitals - Max Smart Super Speciality Hospital, Max Saket Super Speciality Hospital and Max Balaji Hospital
Cash flow from operations stood at Rs 261 crore during the quarter, of which around Rs 38 crore were spent on capacity expansion projects
KKR sold the entire 26.8% stake worth Rs 9,400 cr as part of its exit strategy
The company had posted a PAT and share of associates at Rs 90.36 crore for the year-ago period, Max Healthcare said in a regulatory filing
The third and the largest phase of vaccination, under which beneficiaries in the 18-45 age group will be given jabs against coronavirus, will begin here on Monday
Trust is running low and the big chains, Max, Apollo, Fortis and others are keen to retune the pitch with new services
The rate card of Max Hospital had gone viral on social media on Friday, with many users noting that the charges were too high for a common man.
Max India completes merger of Radiant Life's hospital assets with self
The hospital had appealed to the appellate authority to revoke the cancellation of the licence
The baby boy died at a nursing home in Pitampura after battling for life for nearly a week.
The parents just before performing the last rites realised that one of them showed movements inside the bag