Max Healthcare to acquire 51% stake in Saket City Hospital

In a bid to spread out its avenues, Max Healthcare is planning to acquire 51% stake in BK Modi group firm’s Saket City Hospital.

Max Healthcare will make the possession for an amount which has not been disclosed as of now. Max will acquire the stake from Smart Health City Pte Ltd, a Singapore-based company, which is also the holding company for Saket City Hospital.

The transaction is subject to confirmatory diligence, requisite regulatory approvals and other customary conditions, Max Healthcare said in a statement.

Rahul Khosla, chairman of Max Healthcare said, "Max Healthcare is confident that this acquisition will provide significant opportunities through the realisation of a clear vision that includes setting up a world class centre dedicated to oncology, development of high end neurosciences capabilities..."

Saket City Hospital, which is located in South Delhi’s Saket area started operations in 2013 and has 230 operational beds, which, the company is planning to expand to 300.

Talking about the partnership, Dr. B K Modi, Founder & Chairman, Smart Global Group, said, "The partnership between Smart Health City and Max Healthcare will be transformational for healthcare delivery in North India. Max's reputation as a premier healthcare provider and the expertise of their international JV partner, Life Healthcare, South Africa, will act as a catalyst for Smart Health City's aspirations of creating a world class healthcare destination. I am now confident of providing India a health facility we will all be proud of."
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