Max Healthcare Institute (MHIL) has collaborated with the Lakshdeep Group, the promoter group of Jaypee Healthcare (JHL), which is currently undergoing a Corporate Insolvency Resolution Process (CIRP).
In a press statement on Friday, the company informed that as part of this collaboration, MHIL will acquire a controlling stake in JHL, including its flagship 500-bed Jaypee Hospital, Noida.
The agreement allows MHIL to organise debt repayment for JHL’s financial creditors and acquire approximately 64 per cent of the company. The acquisition is based on an enterprise value of Rs 1,660 crore, reflecting JHL's market strength. The deal includes JHL’s two operational hospitals—Jaypee Hospital, Noida, with 500 beds, and Jaypee Hospital, Bulandshahr, with 200 beds. Additionally, JHL owns a 100-bed facility in Anoopshahar, which is currently non-operational. For the financial year 2023-24, JHL reported revenue of Rs 421 crore and an EBITDA of Rs 70 crore.
Abhay Soi, Chairman and Managing Director of Max Healthcare, expressed excitement about the collaboration, stating, “This acquisition marks an important milestone in our strategy to strengthen our presence in the NCR region, home to 46 million people and a key economic hub. We look forward to building on Jaypee Hospitals' legacy and leveraging our expertise to enhance patient care and expand access to quaternary healthcare services. Over the coming years, we aim to potentially expand the Noida facility to 1,200 beds.”
The transaction, expected to be finalised within 30 days, is aligned with the revival plan approved by the National Company Law Appellate Tribunal (NCLAT). This plan is designed to ensure sustainable operations for Jaypee Hospitals while improving operational efficiency and maintaining stakeholder confidence, the statement from the company read.
