Max Healthcare Acquires Sahara Hospital In Lucknow For Rs 940 Crore

According to the reports in the media, in a strategic move to expand its footprint in Tier-I/II cities, Max Healthcare, one of India's largest private healthcare providers, has announced the acquisition of Sahara Hospital in Lucknow. The 550-bed facility will be purchased for an enterprise value of Rs 940 crore (approximately USD113 million) through Max Healthcare's subsidiary, Crosslay Remedies, the media reports added.

Reportedly, the acquisition deal involves Max Healthcare buying Starlit Medical Centre, facilitated by Crosslay Remedies. Starlit Medical Centre had previously agreed with Sahara India Medical Institute for the slump sale acquisition of Sahara Hospital, according to a statement from the company.

The media reports further stated that Crosslay Remedies, the subsidiary handling the transaction, currently owns and operates Max Super Speciality Hospital in Vaishali and Max Medical Centre in Noida. Max Healthcare acquired Crosslay Remedies in July 2015 as part of the acquisition of the erstwhile Pushpanjali Crosslay Hospital in Vaishali.

The operational bed capacity of Sahara Hospital is currently around 250 beds, with a revenue run rate of Rs 200 crore for the financial year 2023-24. Abhay Soi, Chairman and Managing Director of Max Healthcare Institute, expressed enthusiasm about the acquisition, stating, "We are excited about this acquisition, which is in line with our strategy to enter new Tier I/II cities that have a developed healthcare services ecosystem." The move reflects Max Healthcare's commitment to expanding its presence and enhancing healthcare services in emerging markets.

The acquisition aligns with Max Healthcare's broader strategy to establish a stronger presence in cities beyond metropolitan areas, contributing to the growth and accessibility of quality healthcare services.