Max Healthcare buys BK Modi’s Saket Metropolis Hospital

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Mumbai: Max Healthcare Institute Ltd, an equal three way partnership between Max India and South Africa-based Life Healthcare, will purchase a 51% stake in Saket Metropolis Hospital Pvt. Ltd from Sensible Well being Metropolis Pte Ltd, the Singapore-based BK Modi Group firm which manages and operates the Delhi-based hospital.

The worth of the transaction was not disclosed.

Saket Metropolis Hospital will likely be rebranded as Max Sensible Tremendous Speciality Hospital, Max Healthcare mentioned.

With 13 hospitals in North India, Max Healthcare is the most important hospital chain in Delhi. Out of 12 hospitals, 10 are situated in and round Delhi and the others in Mohali, Bathinda and Dehradun.

On 9 October, Mint had reported concerning the dialogue of Max Healthcare with BK Modi Group to amass Saket Metropolis Hospital.

Situated in south Delhi, Saket Metropolis Hospital, or SCH, which began operations in 2013, has 230 beds and is increasing to 300 beds. Max Healthcare plans to develop this facility by 900 extra beds, increasing the hospital’s capability to 1,200 beds.

“The partnership between Sensible Well being Metropolis and Max Healthcare will likely be transformational for healthcare supply in North India. Max’s popularity as a premier healthcare supplier and the experience of their worldwide JV companion, Life Healthcare, South Africa, will act as a catalyst for Sensible Well being Metropolis’s aspirations of making a world class healthcare vacation spot,” mentioned B.Ok. Modi, founder and chairman, Sensible World Group.

“We imagine that we can combine SCH with our hospital community rapidly to optimize scientific and repair requirements, notice price effectivity and appeal to extra prime clinicians to an already respectable expertise pool,” mentioned Rajit Mehta, managing director and chief govt, Max Healthcare.

For 2013-14, Saket Metropolis Hospitals recorded a lack of 14 crore on a income of 68 crore. In accordance with the corporate’s steadiness sheet for that fiscal yr, it has whole property value 243.7 crore and long-term borrowings of 204.8 crore.

A handful of enormous hospital chains are aggressively increasing into totally different elements of the nation.

In June, Chennai-based Apollo Hospitals Enterprise Ltd acquired a 51% stake in Guwahati-based 220-bed Assam Hospitals Ltd for 57.25 crore.

Final month, Mint reported plans of personal fairness buyers Ascent Capital Pvt. Ltd and OrbiMed Advisors LLC to promote their stake in Kerala Institute of Medical Sciences (KIMS), a hospital chain.

In accordance with a 2014 report by skilled companies agency PricewaterhouseCoopers Pvt. Ltd, India’s healthcare infrastructure wants an extra 650,000 beds that can translate into capital funding of 1.65 trillion by 2017.

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