Max Healthcare Announces Investment Plans of INR 2500 Cr in the Capital of Uttar Pradesh
- Renames Sahara Hospital as Max Super Speciality Hospital
Max Healthcare Institute Ltd, one of India’s largest private healthcare providers, today unveiled its plan to invest ~INR 2500 Cr for the development of world class healthcare infrastructure in the city. It also announced renaming of Sahara Hospital as Max Super Speciality Hospital, Lucknow.
Max Healthcare recently completed the acquisition of Healthcare Undertaking consisting of 550 bedded Sahara Hospital on a slump sale basis from Sahara India Medical Institute Limited at an enterprise value of INR 940 Cr. Situated in the heart of Lucknow, Max Super Speciality Hospital has a current operational bed capacity of 285 beds. It is located on a land parcel of 27 acres at Gomti Nagar, Lucknow, an upmarket residential and commercial hub.
The acquisition of Sahara Hospital marks the beginning of Max Healthcare’s plans to scale up its presence and investments in the region. The company plans to invest an aggregate of INR 2500 Crore which includes setting up of a new 500 beds hospital on 5.6-acre parcel of land located at Shaheed Path and augmentation of capacity at Max Super Specialty Hospital, Lucknow. The investment will also help in bring in cutting edge medical technology including Robotics, Radiation Therapy in Oncology, Transplants (Liver, Kidneys, Bone Marrow, heart and lung transplants) and greater focus & impetus to Nursing Education.
Max Healthcare plans to invest INR 150-200 crore to upgrade the Max Super Speciality Hospital’s medical infrastructure, add 265 more beds and renovate the civil infrastructure. The hospital will undergo significant enhancements with the introduction of state-of-the-art Max Institute of Cancer Care, strengthening of the Organ Transplantation program and the introduction of world-class Robotic Surgical systems.
Commenting on the acquisition, Mr. Abhay Soi, Chairman and Managing Director, Max Healthcare Institute Ltd., said: "We are excited about our entry in Lucknow with the acquisition of Sahara Hospital. This gives us an opportunity to participate in the development of Uttar Pradesh as it marches towards becoming USD 1 trillion economy by 2027. Through our investments, we shall be providing employment opportunities for over 10,000 people in the state. We are excited about the possibilities that lie ahead and remain committed to providing cutting edge healthcare services to our patients."
With this, Max Healthcare will be the largest private healthcare network in Uttar Pradesh, with over 2000 beds, treating 1.5 mn people.
The company will bring in high-end tertiary and quaternary care to patients in Lucknow and neighbouring areas. This hospital will serve patients not only from Lucknow but also be an important referral centre for patients from Eastern and Central Uttar Pradesh and Bihar.
With direct flight connectivity to several countries, the company will also explore attracting medical value travel patients from neighbouring countries and the Middle East to Max Super Speciality Hospital, Lucknow.
About Max Healthcare:
Max Healthcare Institute Limited (MHIL) is one of India’s largest hospital chains (considering only income from healthcare services) in fiscal 2023. It is committed to the highest standards of medical and service excellence, patient care, scientific and medical education.
MHIL has major concentration in North India consisting of a network of 19 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 the cities of Mumbai, Mohali, Bathinda, Dehradun, Nagpur and Lucknow. 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, Dehradun, Nagpur and Lucknow, 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.
In addition to its core hospital business, MHIL has two SBUs - Max@Home and Max Lab. Max@Home is a platform that provides health and wellness services at home and Max Lab offers diagnostic services to patients outside its network.
