Max Healthcare

Max Healthcare Institute Limited is an Indian hospital chain based in New Delhi.[3][4][5] Max Healthcare owns and operates healthcare facilities across Delhi National Capital Region, as well as one hospital each in Mohali, Bathinda, Dehradun, and Mumbai.[6]

Max Healthcare Institute Limited
TypePublic
IndustryHealthcare
Founded2001 (2001)
HeadquartersNew Delhi, India
Number of locations
17
Area served
India
Key people
Abhay Soi (Chairman & MD)[1]
ProductsHospitals, Pharmacy, Diagnostic centres
RevenueIncrease ₹4,058 crore (US$510 million) (2022)[2]
Increase ₹747 crore (US$94 million) (2022)[2]
Increase ₹605 crore (US$76 million) (2022)[2]
Total assetsIncrease ₹9,189 crore (US$1.2 billion) (2022)
Total equityIncrease ₹6,282 crore (US$790 million) (2022)
Number of employees
3,783 (2020)[2]
Websitewww.maxhealthcare.in

History

Max Healthcare opened its first medical center in South Delhi's Panchsheel Park in 2000. The company opened two other secondary care centers in Pitampura in North West Delhi and the eastern Delhi suburb of Noida in 2002.[7]

In 2004, the company commissioned the East Block of its flagship tertiary care Hospitals called Max Hospital, Saket in South Delhi.

Max Healthcare ventured into Gurgaon, the South Western suburb of Delhi with a secondary care hospital in 2007.[8]

In 2011, Max Healthcare entered into a public–private partnership (PPP) agreement with the government of Punjab, India and set up two hospitals in Mohali near Chandigarh and in Bathinda. In the same year, Max Healthcare commissioned its tertiary care hospital in Shalimar Bagh, North West Delhi.[9]

In 2012, Life Healthcare Group acquired a 26% stake in Max Healthcare for ₹516 crore. In 2014, Life Healthcare Group invested another ₹766 crore in the company to increase its stake to 46.41% and to become an equal joint venture partner with Max India.[10]

Nanavati Max Super Speciality Hospital in Mumbai

In 2015, Max Healthcare acquired Pushpanjali Crosslay Hospital in Vaishali, Ghaziabad,[11] and the Saket City Hospital in Saket. These hospitals were subsequently rechristened as Max Hospital, Vaishali, and Max Smart Hospital, Saket.[12][13]

A standalone oncology center called Max Cancer Centre was commissioned in Lajpat Nagar, South Delhi in 2016.[14]

In 2018, Life Healthcare Group announced that it would sell its entire 49.7% stake in Max Healthcare and exit the joint venture with Max India.[4] In 2019, Radiant Lifecare acquired 49.7% stake in Max Health Institute Limited for ₹2136 crore[15][16] and Abhay Soi was made chairman.[17] In 2020, Max Healthcare merged with Radiant Lifecare, which operated BLK Hospital in Central Delhi and the Nanavati Hospital in Mumbai, to emerge as the second-largest healthcare company by revenue.[18][1]

The company listed on the stock exchanges in August 2020.[19] Between 2021 and 2022, co-promoter KKR & Co. Inc. sold its entire stake in Max Healthcare. As a result, Abhay Soi became the sole promoter of the company with over 23% stake.[20]

Subsidiaries

Controversy

During the outbreak of COVID 19, a controversy stirred about the charges exercised by the hospital for those who were positive. The hospital later clarified that those charges were inclusive of other charges.[22]

References
  1. Leo, Leroy (1 June 2020). "Max Healthcare completes merger of Radiant Life's hospital assets with self". mint. Retrieved 8 December 2020.
  2. "Max Healthcare Institute Limited Financial Statements" (PDF). maxhealthcare.in.
  3. "MAX HOSPITALS". www.ibef.org. Retrieved 21 August 2020.
  4. "Life Healthcare To Sell Its Stake In Max Healthcare". BloombergQuint. Retrieved 21 August 2020.
  5. Das, Sohini (1 June 2020). "Max Healthcare says will become second largest healthcare chain by revenue". Business Standard India. Retrieved 8 December 2020.
  6. "Max Healthcare Institute lists on bourses, eyes robust growth". Zee Business. 22 August 2020. Retrieved 8 December 2020.
  7. "Max Healthcare Centre". indiatimes.com. Retrieved 9 November 2011.
  8. "Warburg Pincus enhances stake in Max Healthcare | Max India". Retrieved 8 December 2020.
  9. Roy, Vijay C. (12 February 2009). "Max sole bidder for Punjab super-speciality hospitals". Business Standard India. Retrieved 8 December 2020.
  10. "Life Healthcare completes Rs 766 crore investment in Max Healthcare". The Economic Times. Retrieved 11 January 2023.
  11. Reporter, B. S. (29 May 2015). "Max acquires Pushpanjali Hospital for Rs 290 cr". Business Standard India. Retrieved 8 December 2020.
  12. Punj, Shreya (29 May 2015). "Max Healthcare acquires NCR's Pushpanjali Crosslay Hospital". mint. Retrieved 8 December 2020.
  13. "Max Healthcare acquires 76% stake in Pushpanjali Crosslay for Rs 287 crore". The Economic Times. Retrieved 8 December 2020.
  14. "Delhi gets first standalone cancer daycare centre". Hindustan Times. 7 June 2016. Retrieved 8 December 2020.
  15. "Radiant Life Care completes acquisition of 49.7% stake in Max Healthcare". www.businesstoday.in. Retrieved 8 December 2020.
  16. Bureau, Our. "Max Healthcare announces change in leadership, reconstitutes board". @businessline.
  17. "Max Healthcare Institute reconstitutes its board, ropes in ex-SEBI chief UK Sinha as independent director". Firstpost. 13 August 2019. Retrieved 21 August 2020.
  18. Bureau, ET (2 June 2020). "Max completes healthcare merger with Radiant Life". The Economic Times. Retrieved 19 February 2021.
  19. "Turnaround Specialist Abhay Soi And KKR-promoted Max Healthcare Poised For D-Street Debut". Moneycontrol. Retrieved 11 March 2021.
  20. Dhanjal, Swaraj Singh; Laskar, Anirudh (16 August 2022). "KKR sells Max stake in PE's largest exit". mint. Retrieved 24 December 2022.
  21. "Max Healthcare - A three-act play: growth, quality, returns" (PDF). HDFC securities. Retrieved 11 January 2023.
  22. "Max Healthcare COVID-19 pricing controversy - All you need to know". Free Press Journal. Retrieved 17 March 2021.
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