Max Healthcare to acquire Sahara Hospital for Rs940 cr

12 Dec 2023

Max Healthcare to acquire Sahara Hospital for Rs940 cr
1

Max Healthcare Institute has agreed to acquire Lucknow-based Sahara Hospital, as it looks to expand its operations in the country. 

The acquisition is being made through acquisition of 100 per cent stake in Starlit Medical Centre Pvt Ltd, which in turn, has entered into a business transfer agreement with Sahara India Medical Institute Ltd to acquire the Sahara Hospital, on a slump sale basis, the company informed stock exchanges.

The acquisition of the 550-bed Sahara Hospital will help Mumbai-based Max Healthcare expand its presence in the north, where it already has 17 hospitals.

Sahara Hospital, which caters to about 2 lakh patients every year, expects to close the current fiscal with revenues of about Rs200 crore, Max Healthcare stated in its filing.

The total consideration of Rs940 crore includes amount payable to financial creditor and sellers, according to the filing.

Sahara Hospital offers multi-disciplinary care in specialties, including Gastroenterology, Neuro, Surgery, Cardiology, Pulmonology and diagnostics. 

The 17-storey hospital, situated at Gomti Nagar, a commercial hub in Lucknow, owns a 27-acre land parcel, which also houses a nursing college.

Sahara Hospital has the potential to quickly ramp up beds and expand medical programmes such as oncology and transplants.

The hospital industry in India has seen a spate of mergers and acquisition in recent times with deals above Rs33,350 crore in 2022 and Rs18,340 crore in the first five months of this year.

In September this year, Manipal Hospitals acquired an 84 per cent stake in AMRI Hospitals to expand its presence in eastern India.

Business History Videos

History of hovercraft Part 3 | Industry study | Business History

History of hovercraft Part 3...

Today I shall talk a bit more about the military plans for ...

By Kiron Kasbekar | Presenter: Kiron Kasbekar

History of hovercraft Part 2 | Industry study | Business History

History of hovercraft Part 2...

In this episode of our history of hovercraft, we shall exam...

By Kiron Kasbekar | Presenter: Kiron Kasbekar

History of Hovercraft Part 1 | Industry study | Business History

History of Hovercraft Part 1...

If you’ve been a James Bond movie fan, you may recall seein...

By Kiron Kasbekar | Presenter: Kiron Kasbekar

History of Trams in India | Industry study | Business History

History of Trams in India | ...

The video I am presenting to you is based on a script writt...

By Aniket Gupta | Presenter: Sheetal Gaikwad

view more
View details about the software product Informachine News Trackers