has entered into a share purchase agreement to acquire controlling stake in Kalinga Hospital Limited (KHL) from Hospital Corporation of Orissa – strengthening its presence in the eastern region of the country.
Max will acquire 58.4 per cent stake in KHL at an equity value of ₹300 crore, Max Healthcare said.
The 250-bed NABH accredited hospital is at Maitri Vihar, Bhubaneswar, a prime location in the city, it added. Spread over 2,60,000 sqft., the hospital provides services across specialties, including neurology, cardiology, orthopaedics, gastroenterology, renal sciences and oncology; with diagnostics and radiology facilities, the hospital group said. Bhubaneswar attracts patients from the state, besides neighbouring West Bengal, Jharkhand and Chhattisgarh, it added.
Abhay Soi, Chairman and Managing Director, Max Healthcare Institute, said in a statement, that the acquisition comes with “significant operational upside and brownfield potential”. The transaction would be completed, subject to conditions, the hospital network said.