Max Healthcare Secures Control Of Lucknow’s Sahara Hospital In ₹940 Crore Transaction
Max Healthcare Institute Ltd has recently finalized a significant transaction, acquiring control of Sahara Hospital in Lucknow, a 550-bed facility, for a total consideration of ₹940 crore. This strategic move marks Max Healthcare’s entry into Lucknow, a rapidly growing city in Uttar Pradesh.
The healthcare provider, through its wholly-owned subsidiary Crosslay Remedies Limited (CRL), entered into a Share Purchase Agreement to acquire the entire 100 percent stake of Starlit Medical Centre for an enterprise value of ₹940 crore. Starlit had previously engaged in a Business Transfer Agreement with Sahara India Medical Institute Ltd for the acquisition of Sahara Hospital through a slump sale basis.
Also Read: Numerology predictions Of 9 December, 2023: Discover influence Of numbers in your life
Sahara Hospital, housed in a 17-storey building, offers comprehensive multi-disciplinary care encompassing gastroenterology, neurology, surgery, cardiology, pulmonology, and diagnostics. Additionally, the hospital includes a nursing college. Currently serving approximately two lakh patients annually, the hospital is renowned for its center for neurosciences. The operational bed capacity stands at around 250 beds, with an expected revenue of ₹200 crore in FY24.
Max Healthcare plans to integrate its medical programs, including oncology and organ transplants, while reinforcing existing initiatives such as orthopedics, cardiac sciences, neurosciences, and renal sciences. Abhay Soi, the Chairman and Managing Director of Max Healthcare, expressed that this acquisition aligns with their strategy to enter new Tier I / II cities with well-established healthcare services ecosystems.
Also Read: India Climbs to 7th Position in 2024 Climate Change Performance Index at COP28
Crosslay Remedies, Max Healthcare’s subsidiary, already owns and operates Max Super Speciality Hospital in Vaishali and Max Medical Centre in Noida. Acquired in July 2015 as part of the Pushpanjali Crosslay Hospital acquisition, Crosslay Remedies has contributed to Max Healthcare’s growth.
As of now, Max Healthcare has a concentrated presence in North India, boasting a network of 17 healthcare facilities. Among these, eight hospitals and four medical centers are situated in Delhi and the NCR region, while others are located in Mumbai, Mohali, Bathinda, and Dehradun. This acquisition aligns with Max Healthcare’s commitment to enhancing healthcare services in new geographies, leveraging its successful post-merger integration track record and the expertise of its clinicians.
