NEW DELHI: Max Healthcare said it will buy the 550-bed Sahara Hospital in Lucknow for an enterprise value of Rs 940 crore (around $113 million) in a bid to expand its presence in Tier-I /II cities. The deal will be routed through Max subsidiary Crosslay Remedies.
One of India’s largest private healthcare providers, Max Healthcare led by Abhay Soi, has signed a pact to buy Starlit Medical Centre through Crosslay Remedies. Starlit had earlier entered into an agreement with Sahara India Medical Institute for purchase of Sahara Hospital on a slump sale basis, a company statement said.
Crosslay Remedies, which owns and operates Max Super Speciality Hospital, Vaishali and Max Medical Centre, Noida, was acquired by Max Healthcare in July 2015, as part of acquisition of erstwhile Pushpanjali Crosslay Hospital, Vaishali.
Sahara Hospital’s current operational bed capacity is around 250 beds, with FY24 revenue run rate of Rs 200 crore.
Soi, CMD Max Healthcare Institute said: “We are excited about this acquisition, which is in line with our strategy to enter new Tier I/II cities, which have a developed healthcare services ecosystem.”
