Max Healthcare to buy Sahara Hospital for Rs 940 crore
The 550-bed Sahara Hospital treats about 200,000 patients every year and has a revenue potential of 2 billion rupees for fiscal 2024, Max said.
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Max Healthcare Institute Ltd Friday said it will buy Starlit Medical Centre Pvt Ltd for an enterprise value of Rs 940 crore, thus acquiring the ownership of 550-bed Sahara Hospital in Lucknow.
The company has executed a binding share purchase agreement (SPA) for the acquisition of a 100 per cent stake of Starlit Medical Centre, which had entered into a business transfer agreement with Sahara India Medical Institute for the purchase of the healthcare unit on a slump sale basis, Max Healthcare Institute said in a statement.
The 550-bed Sahara Hospital treats about 200,000 patients every year and has a revenue potential of 2 billion rupees for fiscal 2024, Max said.
The company, which has 17 healthcare facilities mostly concentrated in North India, said Sahara Hospital has the potential to quickly ramp up beds and expand medical programs such as oncology and transplants.
Deals in the Indian hospitals space have heated up, with mergers and acquisitions totalling $4 billion in 2022 and $2.2 billion in the first five months of this year.
Global consultancy firm PwC projects 12-14 per cent annual growth for the country’s private healthcare market, which has seen a post-pandemic boom.
Indian hospital chain operator Manipal Hospitals in September acquired an 84% stake in AMRI Hospitals in its bid to expand its presence in eastern India, while private equity firm Blackstone in October said it would buy a majority stake in India’s Care Hospitals. With reuters
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