Mumbai: Max Healthcare Institute Ltd, promoted by Analjit Singh, one of the co-owners of Hutch-Essar, is in talks to acquire two 250-bed hospitals in Mumbai at a cost of around Rs200-250 crore.
The company, which is so far present only in North India with seven hospitals in its fold, is currently in advanced stages of discussions with Mumbai hospital groups for a buy-out or a management contract, say officials familiar with the development.
The total investment to acquire these Mumbai hospitals will be in the range of Rs200-250 crore.
“The company is looking at taking over the management of one of the hospitals on a profit-sharing basis and the other one could be a complete acquisition,” an official, who requested anonymity, said.
Max Healthcare’s executive director Mukesh Shivdasani said, “we are in talks with a leading hospital in Mumbai for taking over the management. Besides Mumbai, we are also looking at other cities such as Surat and Ahmedabad in the Western region to expand our healthcare chain through the inorganic route.”
Max Healthcare is setting up four more hospitals—three in Delhi and one at Dehradun at a cost of Rs650 crore in all.
Max India, listed on the National Stock Exchange of India, and US-based private equity fund Warburg Pincus are minority shareholders in Max Healthcare.