Indian private hospital chain Max Healthcare Institute has acquired Alexis Multi Speciality Hospital for Rs4.12bn ($49.64m).
Alexis Multi Speciality is a Joint Commission International (JCI) accredited hospital with 200 beds, with an expansion potential of up to 340 beds.
It is located on approximately two acres of land in Mankapur, with a built-up area of around 225,000ft², in an upscale area of Nagpur, Maharashtra.
This acquisition is in line with Max Healthcare’s strategy to bolster its reach in Western India.
Nagpur’s strategic location in Maharashtra and its proximity to regions such as Amravati and Jalgaon make it a healthcare hub with a pool of experienced medical professionals.
This environment, along with the hospital’s existing cash generation and brand equity, presents a valuable opportunity for Max Healthcare, stated the hospital chain.
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Max Healthcare Institute chairman and managing director Abhay Soi said: “Alexis Hospital acquisition will strengthen our presence in the Maharashtra region. With this addition, we now have four JCI-accredited facilities in our network and we look forward to bringing high-end quality care to people of the region.”
Alexis provides a range of advanced healthcare services, leveraging several biomedical equipment such as a digital X-ray, Varian True Beam Linear Accelerator LINAC, 128 Slice CT Scan, ARTIS Q Cath Lab, and a 3 Tesla MRI.
The hospital, which is spread out across the ground floor along with six floors and a basement, specialises in various medical disciplines including transplants, gastroenterology, neurosurgery, cardiology and other diagnostic facilities.
Apart from the available medical disciplines, the hospital’s medical programme can further be expanded to include other surgical specialities such as urology, CTVS as well as oncology and neurosciences.
Max Healthcare opines that the potential to increase Alexis’ bed capacity and expand medical programmes in surgical specialities could enhance the average revenue per occupied bed and occupied bed days, contributing to the hospital’s growth.
Currently, Alexis’ financial performance indicates a revenue run rate of Rs1.5bn and earnings before interest, taxes, depreciation, and amortisation (EBITDA) of Rs250m.
A couple of months ago, Max Healthcare was in the news for its acquisition of the 550-bed Sahara Hospital in Lucknow, Uttar Pradesh.