Max Healthcare Buys Majority Stake in Saket City Hospital

Max Healthcare (MHC; New Delhi, India), one of the leading chain of hospitals in India, has entered an agreement to acquire a 51% share in Saket City Hospital (SCH) from Smart Health City, for an estimated USD 65 million.

SCH currently has 230 operational beds and is in the process of expanding to 300 beds. Following the purchase, a further 900 beds will be built. When combined with Max Healthcare's existing and contiguously located flagship facility in south Delhi, the Max Super Specialty Hospital (MSSH), Max Healthcare will have a footprint of more than 2,000 beds in the neighborhood of Saket, close to the center of New Delhi, making it one of the largest single-location healthcare facilities in all of India.

The combined facility will be rebranded as Max Smart Super Specialty Hospital, a medical office building (MOB) that will reflect the vision of Indian entrepreneur Dr. BK Modi to create a MediCity in the heart of India's capital. The MOB is expected to yield benefits of scale, synergy, and quality across clinical, patient safety, customer service, management, and financial aspects together with the Max Healthcare network. Medical services will include daycare procedures, diagnostics, assisted living, rehabilitation center, and medical and clinical research facilities.

“The ability to create a 2,000 bed world-class integrated MediCity is a life-changing opportunity for Max Healthcare, and is in line with the company's vision to be a best-in-class healthcare services provider,” said Rahul Khosla, chairman of Max Healthcare. “This acquisition will provide significant opportunities for Max Healthcare for setting up a world class center of facilities […] of high end technology solutions such as robotics to improve care and safety as well as to address the growing burden of lifestyle related, especially non communicable diseases."

“The partnership between Smart Health City and Max Healthcare will be transformational for healthcare delivery in North India,” said BK Modi, PhD, MBA, founder and chairman of Indian conglomerate Smart Global Group (Singapore; www.smartglobalholdings.com), which controls Smart Health City. “Max's reputation as a premier healthcare provider and the expertise of their international joint venture partner, Life Healthcare, will act as a catalyst for Smart Health City's aspirations of creating a world class healthcare destination.”

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