IFC to invest Rs 300cr in Max Healthcare
Our Banking Bureau
09 July 2007
The World Bank''s private lending arm, the International Finance Corporation (IFC), will invest Rs300 crore in Delhi-based Max Healthcare Institute over the next four years to aid it expand its bed capacity.
This is IFC''s second investment in the healthcare-pharmaceutical segment in India. On June 14, it had announced a financial assistance worth Rs 63 crore ($15 million -loans of up to $9 million and up to $6 million in equity) to pharmaceutical firm Granules India.
The proposed expansion will add 452 beds to the company''s existing 765-bed capacity. This includes 268 beds in Patparganj hospital, a new100-bed secondary and tertiary hospital in Dehradun, and a new 84-bed tertiary hospital focussed on obstetrics, gynecology, and pediatrics at Saket, Delhi.