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Bajaj Group Eyes Healthcare Venture as Hospital Bed Demand Rises Steadily

Bajaj Group is reportedly planning to enter the healthcare sector by establishing a chain of hospitals, with the venture likely to be led by Nirav Bajaj, who currently oversees corporate strategy at Mukand. However, the investment plans are not yet finalized. The hospital sector in India is experiencing growth, with major private hospital chains announcing expansion plans for the financial year 2024-25 (FY25). This comes after reporting an increase in average revenue per occupied bed (ARPOB) per day in FY24, reflecting rising demand for healthcare services. India faces significant challenges in healthcare coverage, with only 5 beds and 8.6 doctors per 10,000 people, according to OECD data—one of the lowest ratios globally. As life expectancy in India is expected to surpass 70 years by 2031, and with the aging population projected to reach 13% by the same year, the demand for healthcare services is set to grow. Additionally, the rise in non-communicable diseases, especially cardiac ailments, driven by lifestyle changes, further underscores the need for expanded healthcare infrastructure. This venture could mark the next significant move for the Bajaj Group, a 96-year-old conglomerate founded by Jamnalal Bajaj. Niraj Bajaj, Chairman of Bajaj Auto and Mukand, may be steering this new diversification. Meanwhile, Rajiv Bajaj’s son, Rishab, has also joined Bajaj Auto as a divisional manager focusing on electric vehicle product strategy. The new healthcare venture has already set up an office in Lower Parel, Mumbai. However, it remains unclear whether the investment will come from the Bajaj family’s office or the Group companies, which include Bajaj Holdings and Investments, Bajaj Auto, Bajaj Finserv, Mukand Industries, Bajaj Electricals, and Hercules Hoist. The Bajaj Group operates through a family council, which was formed three years ago and includes members such as Shekhar, Madhur, Niraj, Rajiv, and Sanjiv Bajaj. They meet regularly to discuss business and family matters. In March, the Bajaj Group committed ₹5,000 crore to social impact initiatives over five years, focusing on skill development under its “Bajaj Beyond” program. This initiative aims to benefit over 20 million youth by providing employment and entrepreneurial opportunities. In the last decade, the Bajaj Group has contributed nearly ₹4,000 crore towards various CSR initiatives, primarily in education, health, livelihood, and water conservation.

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Max Healthcare’s Ambitious Expansion Plans in Uttar Pradesh

Blog on health

Max Healthcare Institute Ltd (MHIL), a prominent private hospital chain based in Delhi, has recently unveiled its ambitious plans to invest a staggering ₹2,500 crore in developing hospitals in Lucknow and bolstering its presence in Uttar Pradesh (UP). This strategic move underscores the company’s commitment to providing top-notch healthcare services and contributing to the state’s economic growth. The announcement, made by Abhay Soi, Chairman and Managing Director of Max Healthcare, highlights the company’s vision to actively participate in UP’s journey towards achieving a $1 trillion economy by 2027. With a keen focus on expansion and innovation, MHIL aims to play a pivotal role in the state’s healthcare landscape. A significant portion of the investment will be allocated towards the development of a new 500-bed hospital and the expansion of the recently-acquired Max Super Specialty Hospital in Lucknow. This expansion initiative is a testament to MHIL’s dedication to meeting the growing healthcare needs of the region and catering to a larger patient base. The acquisition of the 550-bed Sahara Hospital, now rebranded as Max Super Specialty Hospital, has significantly bolstered MHIL’s presence in UP. With approximately 700 beds in its arsenal post-acquisition, the company is poised to emerge as a key player in the state’s healthcare sector. Furthermore, MHIL’s investment plan includes doubling its overall capacity across its network of hospitals by adding a whopping 4,200 beds over the next four to five years. This ambitious endeavor underscores the company’s commitment to expanding access to quality healthcare services and addressing the escalating demand for medical facilities. In addition to creating a substantial number of employment opportunities, MHIL’s investments are set to usher in cutting-edge medical technologies and advancements. From robotics to radiation therapy in oncology, the company aims to introduce state-of-the-art medical equipment and procedures, ensuring that patients receive the highest standard of care. Max Healthcare’s expansion in UP is not merely about infrastructure development; it is also about enhancing medical education and research. The company’s investment will provide a significant boost to nursing education and facilitate the adoption of advanced medical practices. With these strategic investments, Max Healthcare is poised to become the largest private healthcare provider in Uttar Pradesh, with over 2,000 beds serving approximately 1.5 million people. The upgraded facilities, including the introduction of the Max Institute of Cancer Care and the expansion of organ transplantation programs, underscore the company’s commitment to delivering comprehensive and specialized healthcare services. Moreover, the planned enhancements to the Lucknow facility, such as the introduction of world-class robotic surgical systems and the strengthening of tertiary and quaternary care services, signal MHIL’s dedication to elevating healthcare standards in the region. In conclusion, Max Healthcare’s ambitious expansion plans in Uttar Pradesh represent a significant milestone in the company’s journey towards redefining healthcare delivery in the state. With a strong emphasis on innovation, accessibility, and quality, MHIL is poised to make a lasting impact on the healthcare landscape of Uttar Pradesh, setting new benchmarks for excellence in the industry.

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