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Max Healthcare acquires Alexis Hospital for Rs 412 crore

Max Healthcare Institute Ltd on Friday announced the acquisition of 100 per cent stake in Alexis MultiSpeciality Hospital Private Limited (Alexis) for an enterprise value of Rs 412 crore. The 200 bedded hospital owned and operated by Alexis is a JCI accredited facility located on a land parcel of ~2 acres at Mankapur, North of Nagpur. The hospital has G+6 floors and a basement with built up area of ~2.25 Lakh sqft and offers multidisciplinary care in the areas of Gastroenterology, Neurosurgery, Cardiology, Transplants, related diagnostic facilities, etc. The hospital is equipped with biomedical equipment like Varian True Beam LINAC, 128 Slice CT Scan, 3 Tesla MRI, Digital X Ray, ARTIS Q Cath Lab, etc.

The bed capacity, it said, can be expanded to ~340 beds in view of the availability of the FAR for the given land and the strength of the existing structure. “Further, the hospital medical program can be further strengthened in the surgical specialties like CTVS, Urology, Oncology & Neurosciences leading to improvement in average revenue per occupied bed (ARPOB) and occupied bed days(OBD),” it added.

The current run rate of revenue and EBITDA for the Hospital is ~Rs 150 crore and ~Rs 25 crore respectively. The hospital is generating cash and has good brand equity in the market in the region.

Nagpur has a population density of 47L and high literacy rate (~90 per cent). The city is strategically located in the heart of Maharashtra and experiences drainage from adjacent regions like Amravati, Jalgaon, Gondia, Chhindwara, etc. Further the city has availability of experienced medical talent owing to the presence of government hospitals, medical colleges and private healthcare players.

This acquisition strengthens Max Healthcare’s footprint in Western India and will enable provisioning of best in class clinical care to all patients in the region.

Abhay Soi, Chairman and Managing Director, Max Healthcare Institute Ltd,said, “The acquisition of Alexis Hospital is in line with our vision to expand our footprint in tier 2 cities with abundance of clinical talent and developed private healthcare infrastructure. Alexis Hospital acquisition will strengthen our presence in Maharashtra Region. With this addition, we now have 4 JCI accredited facilities in our network & we look forward to bringing the high-end quality care to people of the region.”

Zanubia Shams, Co-Chairperson, Zulekha Healthcare Group (Promoter of Alexis Hospital, Nagpur), said, “We are very pleased that Max Healthcare, India’s leading healthcare service provider, is acquiring our hospital in Nagpur. While we have built a world class hospital facility, at par with the best, in infrastructure, technology, and clinical services, our decision to consider divesting this business has been driven by our strategic focus on our healthcare businesses in the UAE and Gulf. We strongly believe that Max will further build on the quality of care we have been providing in this growing city in Central India and take Alexis to a higher level.”

The share purchase agreement for acquisition of Alexis Multi-Speciality Hospital Private Limited is being consummated forthwith, it said. The Financial Express

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