Max Healthcare Institute Expands Footprint with Rs 940 Crore Acquisition of Starlit Medical Centre

Max Healthcare Institute (MHIL) has taken a significant step towards broadening its presence in Tier I and II cities by finalizing the acquisition of Starlit Medical Centre. The transaction, facilitated through MHIL’s subsidiary, Crosslay Remedies, comes with an enterprise value of Rs 940 crore.

Currently managing 17 healthcare facilities across Delhi-NCR, Haryana, Punjab, Uttarakhand, and Maharashtra, Max Healthcare operates with 3,533 beds. With the inclusion of Starlit Medical Centre, the total bed count is expected to reach approximately 4,083 beds. MHIL has ambitious plans for the financial year 2023-24, intending to add 300 beds, with a broader vision of surpassing 4,000 additional beds in the next four years.

Starlit Medical Centre, through a business transfer agreement, has acquired the 550-bed Sahara Hospital in Lucknow. The tertiary care facility, spanning 27 acres in Gomti Nagar, holds accreditations from the National Accreditation Board for Testing and Calibration Laboratories (NABL) and the National Accreditation Board for Hospitals & Healthcare Providers (NABH). The facility offers a spectrum of healthcare services, encompassing gastroenterology, neurology, surgery, cardiology, pulmonology, and diagnostics.

Max Healthcare’s strategic acquisition in Lucknow marks its entry into the city, where it plans to introduce medical programs such as oncology and organ transplants while reinforcing existing programs in orthopedics, cardiac sciences, neurosciences, and renal sciences.

Abhay Soi, Chairman and Managing Director of Max Healthcare Institute, expressed excitement about the acquisition, aligning with the institute’s strategy to establish a presence in developed healthcare ecosystems of new Tier I/II cities. Through this venture, Max Healthcare aims to provide quality healthcare to the people of Uttar Pradesh. The acquisition encompasses a 17-storey building, and the hospital, currently serving around 200,000 patients annually, boasts a revenue run rate of Rs 200 crore for the fiscal year 2023-24.