India-based Max Healthcare (MHC) has entered an agreement with Smart Group to acquire 51% stake in Saket City Hospital (SCH), from Smart Health City.
SCH, which began operations in 2013, has 230 operational beds and is currently expanding to 300 beds.
Following the acquisition, Max intends to further expand this facility by 900 additional beds, expanding SCH’s capacity to 1,200.
The deal is subject to confirmatory diligence, requisite regulatory approvals and other customary conditions.
The expansion represents an increase of more than 50% compared with Max Healthcare’s current capacity and will significantly improve access to quality healthcare.
Combined with its existing facility Max Super Speciality Hospital (MSSH) Saket, Max Healthcare will have a footprint of more than 2,000 beds in Saket.
MHC’s MSSH Saket is home for tertiary and quaternary care, including Centres of Excellence for several tertiary specialities.
The development is expected to yield more benefits of scale, synergy and quality across clinical, patient safety, customer service, management and financial aspects in tandem with the Max Healthcare network.
Max Healthcare chairman Rahul Khosla said: "The ability to create a 2,000 bed world-class integrated Medicity is a life-changing opportunity for Max Healthcare and is in line with the company’s vision to be a best-in-class healthcare services provider.
"Max Healthcare is confident that this acquisition will provide significant opportunities through the realisation of a clear vision that includes setting up a world class centre dedicated to Oncology, development of high-end Neurosciences capabilities, expansion of tertiary and quaternary specialities, installation of facilities to cater to transplants, deployment of high end technology solutions such as robotics to improve care and safety as well as to address the growing burden of lifestyle related, especially non communicable diseases."
For Smart Health City, the deal will progress Dr BK Modi’s vision of creating a world-class Medical Office Building (MOB) in addition to SCH.
The complementary medical services provided by MOB will include day care procedures, diagnostics, assisted living, rehabilitation centre, medical and clinical research.
The integrated healthcare facility including MSSH-Saket, SCH and MOB will collectively result in the development of a world-class Medicity in India’s capital Delhi.
Upon the acquisition, SCH will be rebranded as Max Smart Super Speciality Hospital to reflect the shared vision of the two partners.
In North India, Max Healthcare has 13 facilities, which provide services in more than 30 medical disciplines, with ten facilities located in Delhi & NCR and the others in Mohali, Bathinda and Dehradun.
