March 02, 2024 05:01 (IST)
Follow us:
facebook-white sharing button
twitter-white sharing button
instagram-white sharing button
youtube-white sharing button
Delhi court orders Bloomberg to take down 'defamatory' article against Zee | 9 injured as IED blast rocks Bengaluru's Rameshwaram Cafe, CM Siddaramaiah confirms | India expresses 'deep shock' over Israeli soldiers killing civilians at Gaza aid distribution point | 'Raised issues of state': Mamata Banerjee meets PM Modi at Raj Bhavan in Kolkata | Two SFI leaders among those arrested in connection with Kerala student death case
Max Healthcare Institute acquires Lucknow's Starlit Medical Centre for Rs 940 crore
Photo Courtesy: Pixabay

Max Healthcare Institute acquires Lucknow's Starlit Medical Centre for Rs 940 crore

India Blooms News Service | @indiablooms | 08 Dec 2023, 11:06 pm

Lucknow (UP): In a strategic move to increase its footprint in Tier I and II cities, Max Healthcare Institute (MHIL) announced on Friday the completion of a share purchase agreement to acquire a 100% stake in Starlit Medical Centre.

The transaction facilitated through MHIL's subsidiary, Crosslay Remedies, carries an enterprise value of Rs 940 crore.

Presently, Max Healthcare manages 17 healthcare facilities across Delhi-NCR, Haryana, Punjab, Uttarakhand, and Maharashtra, with a combined bed capacity of 3,533. Following the completion of this acquisition, the total bed count is projected to reach approximately 4,083 beds.

For the fiscal year 2023-24, Max Healthcare plans to augment its bed capacity by 300. Additionally, the company aims to achieve significant expansion by incorporating over 4,000 additional beds, with around 2,600 beds anticipated to be added in the next four years.

Situated on a land parcel of approximately 27 acres in Gomti Nagar, Lucknow, a prominent residential and commercial area, the hospital is housed within a 17-storey building encompassing a built-up area of around 8.9 lakh sq ft.

The facility provides comprehensive, multi-disciplinary care across various specialties, including Gastroenterology, Neurology, Surgery, Cardiology, Pulmonology, and diagnostic services.

The hospital complex includes a Nursing College situated on the same premises. This educational institution offers GNM (General Nursing and Midwifery), BSc (Bachelor of Science), and MSc (Master of Science) courses, with an annual intake of over 100 students.

Commenting on the acquisition, Max Healthcare Institute chairman and managing director  Abhay Soi said: “We are excited about this acquisition, which is in line with our strategy to enter new Tier I/II cities as they have a developed healthcare services ecosystem. Through our presence in Lucknow, we aim to bring quality healthcare to the people of Uttar Pradesh.” 

Support Our Journalism

We cannot do without you.. your contribution supports unbiased journalism

IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.

Support objective journalism for a small contribution.