Max Healthcare Institute Limited gets listed on the stock exchanges
- The scheme of arrangement amongst Max Healthcare and Radiant Life Care Private Limited (“Radiant Life”) creates India’s second largest healthcare chain by revenue
- Combined entity to be led by first generation entrepreneur Mr. Abhay Soi
The equity shares of Max Healthcare (Scrip/Symbol: 543220/MAXHEALTH), one of India’s leading providers of healthcare services, were listed today on the Bombay Stock Exchange Limited and the National Stock Exchange of India Limited. Max Healthcare made a debut on the exchanges at Rs. 107 with the ringing of the gong at the BSE in the presence of Chairman and Managing Director, Mr. AbhaySoi.
This Listing is the final outcome of the amalgamation of erstwhile Max India into Max Healthcare and demerger of healthcare businesses of Radiant Life into Max Healthcare pursuant to the Composite Scheme of Amalgamation and Arrangement as approved by the National Company Law Tribunal. This resulting merger came into effect from June 01, 2020. Earlier, Radiant Lifehad acquired 49.7% stake in Max Healthcare in June 2019.
Max Healthcare recorded a robust financial performance in FY 20, with net revenue of INR 4,026 Cr, with an average occupancy of 72.5% over a bed capacity of 3,391 beds. The company had an operating margin of 14.6% with an average revenue per operating bed of INR 51,000. The company out-performed its peers on several operational metrics. The turnaround has led to Max Healthcare posting a 65% jump in its operating profit in FY 20. The company is known for its commitment to the highest standards of clinical excellence and patient care supported by latest technology and cutting edge research.
Max Healthcare plans to continue to focus on the metros and has significant potential for brownfield expansion of beds at a lower capex and rapidly ramp up capacities at the existing locations. The company will continue to invest in high-end tertiary care beds and infrastructure to capitalize on the demand for these services both from the domestic as well as international medical value travel segments. The company has aggressive plans to attract patients from across the globe and sees itself playing a significant role in the space.
Commenting on the occasion, Mr. AbhaySoi, Chairman and Managing Director, Max Healthcare, said, “Today is an important milestone for us and I am very excited about the journey ahead. The healthcare sector holds immense potential and opportunities and I look forward in creating the best-regarded chain of hospitals in India. Last year was a phenomenal year for us which not only saw us becoming the second largest healthcare chain in India but also the industry leader on most operating parameters. Max Healthcare will always be a patient centric organization and will continue to put patients and their interests at the very core of what it does. I look forward to taking the company to newer heights with the excellent team of clinicians and management that we have. I would also take this opportunity to thank all stakeholders for their over whelming support.”
About Max Healthcare:
Max Healthcare is India’s leading provider of healthcare services, which is committed to the highest standards of clinical excellence and patient care supported by latest technology and cutting edge research.
MHIL has a metro-centric presence consisting of a network of 17 healthcare facilities including 11 state-of-the-art tertiary and quaternary care hospitals, one secondary care hospital and five OPD and day care centres. Out of the total network, nine hospitals and five medical centres are located in Delhi, Mumbai & the NCR region. The Max network includes all the hospitals and medical centres owned and operated by the Company and its subsidiaries, and partner healthcare facilities. Two of its hospitals in Mohali and Bathinda are under PPP arrangement with the Government of Punj
In addition to its core hospital business, Max Healthcare has two SBUs - Max@Home and MaxLab. Max@Home is a platform that provides health and wellness services at home and MaxLab offers diagnostic services to patients outside its network.