Business Standard

Max Healthcare acquires Nagpur-based Alexis Hospital for Rs 412 cr

Acquisition strengthens presence in Maharashtra and part of strategy to expand in Tier-II cities, says Max Healthcare

Max Healthcare Institute

Max Healthcare Institute

Sanket Koul New Delhi

Listen to This Article

Max Healthcare Institute on Friday said it has acquired Nagpur-based Alexis Multi-Speciality Hospital Pvt Ltd. (Alexis) for an enterprise value of Rs 412 crore.

The 200-bed hospital is recognised by Joint Commission International (JCI), a global leader in health care accreditation “The hospital has a built up area of around 2.25 lakh square feet and offers multidisciplinary care in the areas of gastroenterology, neurosurgery, cardiology, transplants and related diagnostic facilities,” said Max Healthcare in a filing with the BSE.

The hospital’s capacity can be expanded to 340 beds in view of the land’s floor area ratio and existing structure. “Further, the hospital medical programme can be further strengthened in the surgical specialties like Cardiothoracic and Vascular Surgery (CTVS), Urology, Oncology and Neurosciences, leading to an improvement in average revenue per occupied bed and occupied bed days,” said the company in a press release.

Alexis Hospital’s current run rate of revenue and Ebitda (earnings before interest, taxes, depreciation, and amortisation) is estimated to be Rs 150 crore and Rs 25 crore. “The hospital is generating cash and has good brand equity in the market in the region,” said Max Healthcare.

Abhay Soi, chairman and managing director of Max Healthcare Institute, said that the acquisition is “in line with our vision to expand our footprint in Tier-II cities with abundance of clinical talent and developed private healthcare infrastructure”.

“Alexis Hospital acquisition will strengthen Max Healthcare’s presence in the Maharashtra region. With this addition, Max Healthcare now has 4 JCI accredited facilities in its network,” he said.

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Feb 09 2024 | 2:10 PM IST

Explore News