Max to invest in UP, develop hospitals
Max Healthcare Institute Ltd (MHIL), a Delhibased private hospital chain, on Tuesday announced its plans to invest ₹2,500 crore to develop hospitals in Lucknow and strengthen its footprint in Uttar Pradesh (UP).
In a statement, the company said that the investment will include the development of a new 500-bed hospital and expanding the capacity of the recently-acquired Max Super Specialty Hospital in Lucknow. “This gives us an opportunity to participate in the development of Uttar Pradesh as it marches towards becoming a $1 trillion economy by 2027,” said Abhay Soi, chairman and managing director, Max Healthcare.
The group earlier announced its acquisition of the 550-bed Sahara Hospital on a slump sale basis from Sahara India Medical Institute Limited at an enterprise value of ₹940 crore and renamed it as Max Super Speciality Hospital. After this acquisition, the hospital group has around 700 beds in UP.
These investments are part of the company’s plan to invest
₹5,000 crore to double its capacity across its network of hospitals by adding 4,200 beds in the next four to five years. The group currently has 4,000 beds and plans to raise it to 8,200.
MHIL expects to create employment opportunities for over 10,000 people through these investments in the state. “We are excited about the possibilities that lie ahead and remain committed to providing cuttingedge healthcare services to our patients,” Soi added.
The investment will help bring in cutting-edge medical technologies; robotics, radiation therapy in oncology, transplants, and provide greater focus and impetus to nursing education.