Max Healthcare Acquires Alexis Hospital for INR 412 Cr to Expand Presence in Maharashtra

With this acquisition, Max Healthcare intends to strengthen its presence in Tier-II cities with robust healthcare infrastructure and a surplus of clinical talent.

In a significant move, Max Healthcare Institute Ltd (MHIL), has acquired Alexis Multi-Speciality Hospital (Alexis), Nagpur for a deal worth INR 412 Cr.

The acquisition marks a strategic move by Max Healthcare to bolster its presence in Tier-II cities with robust healthcare infrastructure and a wealth of clinical talent.

Commenting on the acquisition, Abhay Soi, chairman and MD, Max Healthcare Institute said, “The acquisition of Alexis Hospital is in line with our vision to expand our footprint in Tier-II cities with an abundance of clinical talent and developed private healthcare infrastructure.’’

According to him, this acquisition move will strengthen Max’s presence in the Maharashtra Region. “With this addition, we now have 4 JCI accredited facilities in our network & we look forward to bringing high-end quality care to people of the region,” he added.

Further, through this acquisition, Max Healthcare targets leveraging Alexis Hospital's potential to expand its bed capacity from the current 200 operational beds to 340 beds, subject to regulatory approvals. The hospital's current revenue and EBITDA stand at approximately INR 150 Cr and INR 25 Cr, respectively, reflecting its financial stability and market standing.

Addressing Healthcare Disparities in Nagpur

Nagpur, the third-largest city in Maharashtra, boasts a population of 47 lakhs yet faces a scarcity of healthcare facilities, with only 0.8 beds per 1000 population. Recognizing the city's potential and the need for enhanced medical services, Max Healthcare identified Alexis Hospital as an ideal addition to its portfolio.

Moreover, Alexis Hospital is the sole Joint Commission International (JCI)-accredited hospital in Nagpur, offering a wide range of tertiary care services such as organ transplantation, oncology, neurology, cardiology, gastroenterology, and diagnostics under one roof.

In response to the transaction, Zanubia Shams, co-chairperson, Zulekha Healthcare Group, & promoter, Alexis Hospital, said, "We are delighted that Max Healthcare, India's leading healthcare service provider, is acquiring our hospital in Nagpur. While we have developed a world-class facility with state-of-the-art infrastructure and clinical services, our decision to divest this business stems from our strategic focus on healthcare ventures in the UAE and Gulf region."

Alexis Hospital occupies a prime location on a 120-ft wide main road at Mankapur, Nagpur. Its strategic positioning not only serves the local population but also attracts patients from neighboring states including Madhya Pradesh and Chhattisgarh.

Max Healthcare’s Recent Acquisitions

Recently, Max Healthcare Institute Ltd acquired Lucknow's Sahara Hospital in a deal worth INR 940 Cr. With this acquisition, Max Healthcare planned to bolster its high-end medical programs, particularly in oncology and organ transplants, while strengthening existing programs in orthopedics, cardiac sciences, neurosciences, and renal sciences. This strategic move marked Max Healthcare's entry into Lucknow, one of the fastest-growing cities in Uttar Pradesh.

In August last year, Max Healthcare collaborated with Intuitive, a leader in surgical robotics, to launch an Observation Centre for Robotic-Assisted Surgery. Located at the Max Super Specialty Hospital in Saket, New Delhi, the centre is designed to provide healthcare professionals with comprehensive learning experiences in multi-disciplinary robotic-assisted surgery programs.

The TPO Centre aims to address critical aspects of fostering a successful robotic surgery program, including clinical technology training, financial viability, the establishment of a robotic steering committee, and the formulation of sustainable investment pathways.

Founded in 2001, Max Healthcare Institute Limited (MHIL) is one of India's largest hospital chains. With a network of 17 healthcare facilities concentrated primarily in North India, MHIL offers state-of-the-art tertiary and quaternary care hospitals, secondary care hospitals, and daycare centers.

In addition to its core hospital business, MHIL operates two strategic business units - Max@Home and Max Lab - providing health and wellness services at home and diagnostic services to patients outside its network.