Max Healthcare Institute Ltd (MHIL), a Delhi-based private hospital chain, on Tuesday announced its plans to invest ₹2,500 crore to develop hospitals in Lucknow and strengthen its footprint in Uttar Pradesh (UP).
In a statement, the company said that the investment will include the development of a new 500-bed hospital and expanding the capacity of the recently-acquired Max Super Specialty Hospital in Lucknow. “This gives us an opportunity to participate in the development of Uttar Pradesh as it marches towards becoming a $1 trillion economy by 2027,” said Abhay Soi, chairman and managing director, Max Healthcare.
The group earlier announced its acquisition of the 550-bed Sahara Hospital on a slump sale basis from Sahara India Medical Institute Limited at an enterprise value of ₹940 crore and renamed it as Max Super Speciality Hospital. After this acquisition, the hospital group has around 700 beds in UP.
These investments are part of the company’s plan to invest ₹5,000 crore to double its capacity across its network of hospitals by adding 4,200 beds in the next four to five years. The group currently has 4,000 beds and plans to raise it to 8,200.
MHIL expects to create employment opportunities for over 10,000 people through these investments in the state. “We are excited about the possibilities that lie ahead and remain committed to providing cutting-edge healthcare services to our patients,” Soi added.
The investment will also help bring in cutting-edge medical technologies; robotics, radiation therapy in oncology, transplants (liver, kidneys, bone marrow, heart and lung), and will also provide greater focus and impetus to nursing education.
Max Healthcare said these investments will make it the largest private healthcare provider in Uttar Pradesh, with over 2,000 beds, treating 1.5 million people.
Currently, the Lucknow facility that it acquired from Sahara has an operational capacity of 285 beds. The hospital, the group said, will undergo further enhancements through the introduction of Max Institute of Cancer Care, the strengthening of the organ transplantation program, and the introduction of world-class robotic surgical systems.
“Max Healthcare plans to invest ₹150-200 crore to upgrade the Max Super Speciality Hospital’s medical infrastructure, add 265 more beds, and renovate the civil infrastructure,” MHIL added in the statement.
The group plans to bring high-end tertiary and quaternary care to patients in Lucknow and neighboring 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,” it added.
MHIL consists of a network of 19 healthcare facilities with a major concentration in North India. 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, Dehradun, Nagpur, and Lucknow.
Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it’s all here, just a click away! Login Now!
Download The Mint News App to get Daily Market Updates & Live Business News.
Published: 16 Apr 2024, 05:34 PM IST