Max Healthcare Institute said that it has acquired 100% stake in Alexis Multi-Speciality Hospital (Alexis) for a cash consideration of Rs 372 crore.
The 200-bedded hospital owned & operated by Alexis is a Joint Commission International (JCI) accredited facility located on a land parcel of approximately 2 acres at Mankapur, North of Nagpur.
The hospital has G+6 floors and a basement with built up area of approximately 2.25 Lakh sft and offers multidisciplinary care in the areas of gastroenterology, neurosurgery, cardiology, transplants, related diagnostic facilities etc. The hospital is equipped with high end bio medical equipment.
The bed capacity can be expanded to approximately 340 beds in view of the availability of the floor area ratio (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).
The current run rate of revenue & EBITDA for the hospital is Rs 150 crore & Rs 25 crore, respectively. The hospital is generating cash & has good brand equity in the market in the region.
Nagpur is a fast-growing city with a population density of 47 lakh & high literacy rate of nearly 90%. The city is strategically located in the heart of Maharashtra & experiences drainage from adjacent regions like Amravati, Jalgaon, Gondia, Chhindwara, etc.
Further the city has availability of experienced medical talent owing to presence of government hospitals, medical colleges and private healthcare players.
Abhay Soi, chairman and managing director, Max Healthcare Institute, 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.
Max Healthcare Institute (MHIL) is one of India's largest hospital chains (considering only income from healthcare services) in fiscal 2023. MHIL has major concentration in North India consisting of a network of 17 healthcare facilities.
The company had reported 30.09% rise in consolidated net profit to Rs 289.34 crore on a 16.92% to increase in revenue to Rs 1,334.97 crore in Q3 FY24 as compared with Q3 FY23.
The scrip shed 0.49% to currently trade at Rs 865.80 on the BSE.
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