Max Healthcare has successfully acquired Alexis Multi-Speciality Hospital, a 200-bed facility in Nagpur, Maharashtra, for a total of Rs 412 crore in an all-cash transaction. This strategic move marks Max Healthcare’s entry into the Nagpur market and contributes to expanding its presence in Western India.
The acquisition of Alexis Hospital, a currently operational healthcare facility, is expected to enhance Max Healthcare’s revenue and profitability. Alexis Hospital, boasting a revenue of Rs 150 crore and an EBITDA of 25 crore, is a Joint Commission of US (JCI) accredited institution situated on a 2-acre land parcel in Mankapur, a prominent residential and commercial hub in Nagpur. The hospital has the potential for expansion up to 340 beds.
With a built-up area of 2.25 lakh sq ft, Alexis Hospital offers comprehensive multidisciplinary care in various medical specialties, including gastroenterology, neurosurgery, cardiology, transplants, and related diagnostic services. Equipped with state-of-the-art biomedical technology such as Varian TrueBeam LINAC, 128 Slice CT Scan, 3 Tesla MRI, Digital X-Ray, and ARTIS Q Cath Lab, the hospital ensures high-quality healthcare services.
The acquisition is expected to strengthen Max Healthcare’s medical programs, particularly in surgical specialties like cardiothoracic and vascular surgery (CTVS), urology, oncology, and neurosciences. This strategic move will enhance the Average Revenue Per Occupied Bed (ARPOB) and Occupied Bed Days (OBD).
Nagpur, a rapidly growing city with a population density of 47 lakh, is strategically positioned in the heart of Maharashtra, catering to adjacent regions such as Amravati, Jalgaon, Gondia, and Chhindwara. The city benefits from the availability of experienced medical talent due to the presence of government hospitals, medical colleges, and private healthcare providers.
Abhay Soi, Chairman, and Managing Director of Max Healthcare, expressed that the acquisition aligns with the company’s vision to expand into tier 2 cities with abundant clinical talent and established private healthcare infrastructure. Soi emphasized that the addition of Alexis Hospital strengthens Max Healthcare’s presence in the Maharashtra region, now boasting four JCI-accredited facilities in its network.
Zanubia Shams, Co-Chairperson and Promoter of Zulekha Healthcare Group, the owner of Alexis, highlighted the decision to divest the business as part of their strategic focus on healthcare operations in the UAE and Gulf, despite having developed a world-class hospital facility in infrastructure, technology, and clinical services.
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