New Delhi, April 8 Max Healthcare Institute Ltd announced on Wednesday that it has entered into a share purchase agreement to acquire a controlling stake of 58.4 per cent in Kalinga Hospital Ltd (KHL) from Hospital Corporation of Orissa Inc. at an equity value of Rs 300 crore, including a premium.
This marks Max Healthcare Institute's entry into Bhubaneswar, Odisha.
Kalinga Hospital, which has been operating since 1997, is a 250-bed facility accredited by NABH and offers super specialty services in Neuro, Cardio, Ortho, Gastro, Med Onco, and Renal Sciences.
Located on 10 acres of land in Maitri Vihar, Bhubaneswar, with a built-up area of approximately 2,60,000 sq ft, the facility allows for long-term expansion of capacities and services, with the potential to have over 1,000 beds on the same campus, Max Healthcare Institute said.
Abhay Soi, Chairman and Managing Director, Max Healthcare Institute, said, "This acquisition allows us to strengthen our presence and enables us to extend high-quality healthcare services to a rapidly growing region."
The transaction will be completed upon the fulfillment of the conditions stipulated in the share purchase agreement.