Max Healthcare Institute has acquired exclusive rights to help develop and provide medical services to a 500-bed hospital to be built on a prime land parcel of 3.5 acres in Saket in Delhi, through its arm Alps Hospital Ltd, it announced on Friday.
In its regulatory filing it said, 100 per cent stake in ET Planners Pvt Ltd (ETPPL) in an all-cash deal of Rs 60.11 crore, Max Healthcare Institute has been acquired by the company’s wholly-owned subsidiary, Alps Hospital Ltd.
“TPPL has exclusive and long-term rights to provide medical services in key specialities and aid development of a Children’s Hospital on this land, situated between Max Super Specialty Hospital, Saket and Max Smart Super Speciality Hospital, a unit of Gujarmal Modi Hospital and Research Centre for Medical Sciences,” it added.
The filing said, “This will allow integration of existing Max Network hospitals, thus enabling the creation of an over 2,300-bed contiguous medical hub spread over 23 acres of land.” In the year 2024 the first phase of the hospital is expected to be commissioned, it further added.
Max Healthcare Institute Ltd (MHIL) Chairman and Managing Director Abhay Soi said, “This transaction will allow us to create amongst the largest healthcare complexes in Asia at the heart of our National Capital.”
The capacity in the hospital will be around 500 beds of which 250 beds will be commissioned in the first phase and will be operated under the aegis of Vikrant Children’s Foundation and Research Centre, MHIL said.
Once the hospital is fully constructed and operational it shall directly employ around 2,500 people and around 80,000 patients belonging to economically weaker sections annually will be provided free treatment in its in-patient and out-patient department, it added.
Shares of Max Healthcare Institute Ltd closed at Rs 334.90 per scrip on the BSE, up 0.60 per cent from their previous close. The filing further said the transaction will allow Max network of hospitals to expand, integrate and streamline their services across four hospitals located in Saket Complex.
