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Max Healthcare Institute Ltd (MHIL), one of India’s largest private healthcare providers on Friday announced the acquisition of 100 per cent stake in Alexis Multi-Speciality Hospital Private Limited (Alexis) for an Enterprise Value of Rs 412 Crores.

The 200 bedded-hospital owned and operated by Alexis is a JCI accredited facility located on a land parcel of 2 acres at Mankapur, North of Nagpur - an upmarket residential and commercial hub.

The hospital has G+6 floors and a basement with a built up area of 2.25 lakh-sft and offers multidisciplinary care in the areas of gastroenterology, neurosurgery, cardiology, transplants, related diagnostic facilities etc.

The hospital is equipped with high end biomedical equipment like Varian TrueBeam LINAC, 128 Slice CT Scan, 3 Tesla MRI, Digital X Ray, ARTIS Q Cath Lab, etc.

The bed capacity can be expanded to 340 beds in view of the availability of the FAR for the given land and the strength of the existing structure.

Further, the hospital medical program can be further strengthened in the surgical specialties like CTVS, urology, oncology and neurosciences leading to improvement in average revenue per occupied bed (ARPOB) and occupied bed days (OBD).

The current run rate of Revenue & EBITDA for the Hospital is Rs 150 Cr and Rs 25 Cr respectively. The hospital is generating cash and has good brand equity in the market in the region.

Nagpur is a fast growing city with a population density of 47L & high literacy rate (90 per cent). The city is strategically located in the heart of Maharashtra and experiences drainage from adjacent regions like Amravati , Jalgaon, Gondia, Chhindwara, etc.

Further the city has availability of experienced medical talent owing to the presence of government hospitals, medical colleges and private healthcare players.

This acquisition further strengthens Max Healthcare’s footprint in Western India and will enable provisioning of best in class clinical care to all patients in the region.

Abhay Soi, Chairman and Managing Director, Max Healthcare Institute Ltd said that the acquisition of Alexis Hospital is in line with our vision to expand the footprint in tier 2 cities with abundance of clinical talent and developed private healthcare infrastructure.

“Alexis Hospital acquisition will strengthen our presence in Maharashtra Region and with this addition, we now have 4 JCI accredited facilities in our network and we look forward to bringing the high-end quality care to people of the region,” he said.

Zanubia Shams, Co-Chairperson of Zulekha Healthcare Group (Promoter of Alexis Hospital, Nagpur) said that they were pleased that Max Healthcare is acquiring the hospital in Nagpur.

“While we have built a world-class hospital facility, at par with the best, in infrastructure, technology, and clinical services, our decision to consider divesting this business has been driven by our strategic focus on our healthcare businesses in the UAE and Gulf,” he said.

The share purchase agreement for acquisition of Alexis Multi-Speciality Hospital Private Limited is being consummated forthwith.