Max Healthcare Institute Ltd has recently announced a significant expansion with the acquisition of Sahara Hospital in Lucknow. This move, involving a total investment of ₹940 crore, marks Max Healthcare’s first foray into the rapidly developing city of Lucknow, Uttar Pradesh.
The acquisition process involved Max Healthcare’s wholly-owned subsidiary, Crosslay Remedies Limited (CRL), which signed a Share Purchase Agreement to take over 100 per cent stake of Starlit Medical Centre. Starlit had previously agreed to acquire the healthcare operations of Sahara Hospital from Sahara India Medical Institute Ltd through a Business Transfer Agreement, facilitating the deal on a slump sale basis.
Sahara Hospital, a prominent 550-bed healthcare facility, is located in a 17-storey building and is known for offering a wide range of medical services. These include specialities like gastroenterology, neurology, surgery, cardiology, and pulmonology, along with diagnostic services. The facility, which also includes a nursing college, currently operates with an approximate capacity of 250 beds. It is reputed for its centre for neurosciences and caters to around two lakh patients each year. Max Healthcare anticipates that the hospital will generate a revenue of about ₹200 crore in the fiscal year 2024.