Max Healthcare Institute Ltd. (MHIL), one of India's largest private healthcare providers today announced the acquisition of 100% stake in Alexis MultiSpeciality Hospital Private Limited (Alexis) for an Enterprise Value of Rs. 412 crores.

The 200 bedded hospital owned & 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 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 bio medical equipment like Varian True Beam 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 & 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 crore and Rs. ~25 crore respectively. The hospital is generating cash & has good brand equity in the market in the region.

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.

Commenting on the acquisition, Abhay Soi, Chairman and Managing Director, Max Healthcare Institute Ltd., said: "The acquisition of Alexis Hospital is in line with our vision to expand our 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. With this addition, we now have 4 JCI accredited facilities in our network & we look forward to bringing the high-end quality care to people of the region."

Commenting on the transaction, Zanubia Shams, Co-Chairperson of Zulekha Healthcare Group (Promoter of Alexis Hospital, Nagpur), said: "We are very pleased that Max Healthcare, India's leading healthcare service provider, is acquiring our hospital in Nagpur. While we have built a worldclass 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. We strongly believe that Max will further build on the quality of care we have been providing in this growing city in Central India and take Alexis to a higher level."

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