Max Healthcare Institute Ltd (MHIL), one of the country’s leading chains of hospitals, on Friday said it has acquired city-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 on Chhindwara Road. 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 the company’s presence in Maharashtra region, he added. Alexis Hospital, the only JCI-accredited hospital in the city, has ground plus six floors and a basement with built up area of approximately 2.25 lakh square feet. It offers multidisciplinary care in the areas of gastroenterology, neurosurgery, cardiology, transplants, related diagnostic facilities etc. The hospital is equipped with high end biomedical equipment.

 

Commenting on the transaction, 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 world-class 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 current revenue and EBITDA for the hospital is approximately Rs 150 crore and Rs 25 crore, respectively. On the other hand, MHIL has major concentration in North India, consisting of a network of 17 healthcare facilities. Out of the total network, eight hospitals and four medical centres are located in Delhi and the NCR and the others are located in Mumbai, Mohali, Bathinda and Dehradun.

 

The Max network includes all the hospitals and medical centres owned and operated by the company and its subsidiaries, partner healthcare facilities and managed healthcare facilities. These include state-of-the-art tertiary and quaternary care hospitals at Saket, Patparganj, Vaishali, Rajendra Place, and Shalimar Bagh in Delhi NCR and one each in Mumbai, Mohali, Bathinda and Dehradun; secondary care hospital in Gurgaon and Day Care Centres at Noida, Lajpat Nagar and Panchsheel Park in Delhi NCR and one in Mohali, Punjab. The hospitals in Mohali and Bathinda are under PPP arrangement with the Government of Punjab. Shares of Max Healthcare closed at Rs 874.20 apiece (+0.48%) on the BSE on Friday.