New Delhi: Corporate hospital chain, Max Healthcare Institute has announced to acquire 58.4 per cent stake in Odisha-based Kalinga Hospital at an equity value of Rs 300 crore.
The 250 bed NABH accredited facility is built on a 10-acre land parcel and operates across major specialties, including Neurology, Cardiology, Orthopaedics, Gastroenterology, Renal Sciences and Oncology.
The Bhubaneswar-based hospital also runs an in-house diagnostics unit, equipped with a 128-slice CT scanner, 1.5T MRI, and Cath Lab.
“Happy to announce our foray into Bhubaneshwar, an extremely attractive market, through the acquisition of a very well located and reputable hospital with significant operational upside and brownfield potential,” said Abhay Soi, Chairman and MD, Max Healthcare Institute.
Notably, Max Healthcare, which surpassed the ₹1 lakh crore market capitalisation mark last year, has been making a strong expansion push into non-metro markets to scale its operations. The company is tapping into both greenfield and brownfield opportunities as part of this growth strategy.
Last year, the company executed another Share Purchase Agreement to acquire Yerawada Properties Pvt. Ltd. (YPPL) for developing a 450 beds hospital in Pune.
In the December quarter, the hospital chain reported a revenue of Rs 2,608 crore with a net profit of Rs 344 crore and its average revenue per occupied bed.(ARPOB) was around Rs 77.9 thousand.
