Max Healthcare to Invest Rs 5,000 Crore for Healthcare Expansion

Max Healthcare Institute Ltd, under the leadership of Chairman and MD Abhay Soi, has announced a significant investment plan to more than double its bed capacity to over 8,000 beds in the next four to five years. With a major focus on Uttar Pradesh (UP), the company is set to invest over Rs 5,000 crore, with half of this amount earmarked for developments in UP.

Last year, Max Healthcare acquired Sahara Hospital in Lucknow for an enterprise value of Rs 940 crore and has since renamed it as Max Super Specialty Hospital, Lucknow. The company’s plans for UP include investing Rs 2,500 crore, which involves establishing a new 500-bed hospital on a 5.6-acre parcel of land located at Shaheed Path, as well as expanding the capacity of the acquired facility.

This ambitious endeavor is expected to create over 10,000 jobs through the two facilities in the state. Abhay Soi emphasized the importance of healthcare development in line with UP’s growth trajectory, stating that UP is a state which is marching towards becoming a USD 1 trillion economy by 2027. There is a tremendous amount of development happening. We wanted to participate in the development of the state.

The expansion plans for Max Super Specialty Hospital, Lucknow, include adding another 300-odd beds to the existing 550-bed hospital. Additionally, a new 500-bed greenfield hospital at Shaheed Path is in the pipeline. He also highlighted that between these developments, the company will have over 2,000 beds in the next few years, with an investment of Rs 2,500 crore and the employment of more than 10,000 people.

Max Healthcare is poised to become the largest private healthcare network in UP with these expansions. Soi clarified that while UP is a key focus for growth, the company also has plans for expansion in other states. He mentioned the company’s successful expansions in Nagpur and Pune and expressed interest in further growth across the country.

The total investment for the overall expansion across India will exceed Rs 5,000 crore in the next four to five years, aimed at doubling the bed capacity to over 8,000 beds. Max Healthcare currently operates 4,000 beds and aims to add another 4,200 beds in the upcoming years.

When asked about the strategy for expansion, Soi stated, “It will be both. Where we can do acquisitions we would like to do acquisitions. If we get another, we’d be happy to do it.” He also confirmed that the funding for the UP expansion will be through internal accruals, emphasizing that Max Healthcare is a debt-free company with sufficient internal resources for such investments.

Max Healthcare’s plans for Max Super Specialty Hospital, Lucknow, include introducing state-of-the-art cancer care and robotic surgical systems, along with strengthening the organ transplantation program. The hospital aims to provide high-end tertiary and quaternary care to patients in Lucknow and neighboring areas. Additionally, it will serve as a vital referral center for patients from Eastern and Central Uttar Pradesh and Bihar.

With direct flight connectivity to several countries, Max Healthcare also intends to attract medical value travel patients from neighboring countries and the Middle East to Max Super Specialty Hospital, Lucknow.

Latest news

Harsh Baweja Appointed as Director (Finance) of REC Limited

REC Limited has announced the appointment of Harsh Baweja as its new Director (Finance). The decision was approved by...

Public Sector Banks in India Record Historic Profits in FY24, Surpassing Rs 1.4 Trillion Mark

In a remarkable turnaround, the public sector banks (PSBs) in India have achieved a significant milestone by collectively surpassing...

Anil Malik Assumes Additional Charge as Secretary of Ministry of Minority Affairs

A seasoned bureaucrat Anil Malik, a distinguished member of the Indian Administrative Services has been entrusted with an additional...

B Sudarshan Appointed as Executive Director (Refinery) at MRPL

Mangalore Refinery and Petrochemicals Limited (MRPL) has announced the appointment of B Sudarshan as the new Executive Director (Refinery)....
spot_img

You might also likeRELATED
Recommended to you

spot_img