Max Healthcare pens Rs 250 cr capex

Max Healthcare has drawn up a Rs 250-crore expansion plan for its second phase of growth. In the first phase of growth, which is about to end in 2006, the company has invested roughly Rs 625 crore.

Max Healthcare, which is looking at expanding its presence beyond the National Capital Region.

Its chairman Analjit Singh said, "We would be investing about Rs 250 crore between 2006 and 2009. Besides refining our current operations, we would also set up a hospital each in a northern and western city. In the next three years, this expansion would take the total bed capacity to 1,500."

Max is open to acquisitions too, as it is wary of those hospitals, where too much remodelling would be required, Singh added at the launch of the country's first "Brain Suite" in the Max Super Speciality Hospital in the city.

Max Healthcare is also set to launch a first of its kind health insurance model jointly with insurance major United India. It would be the first healthcare player to collaborate with a general insurance company for in-patient health cover.

In another first, Max is also looking at providing a "prepaid plan" for outpatient health expenses such as pathological, dental or general physician checkups.

Though the deal with United India is yet to be signed, the Delhi-based healthcare major is hoping to launch the scheme in the next 6-8 weeks.

It would provide a healthcover for surgeries and other hospitalisation expenses. Paramount Healthcare would be engaged as the independent third party administrator.

The scheme, being an insurance issue, is awaiting approval from the Insurance Regulatory and Development Authority of India.

The prepaid plan, called "Max Hip" on the other hand is not an insurance subject; so, Max would go ahead with it. "This would be the first integrated, comprehensive health plan for out as well as in-patient expenses", said Singh.

The company had opened a 200-bed super speciality hospital in South Delhi, its sixth facility, offering 33 specialties and four super speciality facilities.

Even though the company is putting equal emphasis on primary healthcare, it is not focussing on expanding stand-alone primary healthcare centres.