Thursday, June 20, 2024

Max Healthcare seals deal to buy Sahara Hospital in Lucknow for Rs 125 cr

Max Healthcare Institute Ltd said on Friday that it will fully acquire Starlit Medical Centre Pvt Ltd for an enterprise value of Rs 940 crore, thereby giving it the ownership of the 550-bed Sahara Hospital in Lucknow for about Rs 125 crore.

Starlit had entered into a business transfer agreement (BTA) with Sahara India Medical Institute Ltd for the purchase of healthcare undertaking consisting of the 550-bed Sahara Hospital on a slump sale basis, the company informed the exchanges.

The hospital is located on a land parcel of 27 acres at Gomti Nagar, an upmarket residential and commercial hub. It is housed in a 17-storey building with a built-up area of 8.9 lakh sq ft and offers multi-disciplinary care in various specialties like gastroenterology, neuro, surgery, cardiology, pulmonology and diagnostics facilities. It also has a nursing college in the same premises with an annual intake of over 100 students.

Commenting on the acquisition, Abhay Soi, Chairman and Managing Director, Max Healthcare Institute Ltd., said, “We are excited about this acquisition, which is in line with our strategy to enter new Tier I/II cities which have a developed healthcare services ecosystem.”

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