In a strategic move to bolster its presence in Maharashtra, Max Healthcare Institute Ltd. (MHIL) has announced the acquisition of Alexis Multi-Speciality Hospital Private Limited (Alexis), located in Nagpur. This acquisition marks a significant milestone for Max Healthcare as it further strengthens its network in Western India.
Nagpur, the third largest city in Maharashtra, with a population of 47 lakhs, has long been recognized for its burgeoning healthcare needs. With a low bed to population ratio, standing at 0.8 beds per 1000 population, the city presents a ripe opportunity for enhanced medical services. Moreover, Nagpur’s status as a hub for medical education ensures the availability of skilled clinical professionals, further facilitating the expansion of healthcare services.
Alexis Hospital, the only Joint Commission International (JCI)-accredited facility in Nagpur, offers a comprehensive range of tertiary care services including Organ Transplant, Oncology, Neurology, Cardiology, Gastroenterology, and diagnostics, all under one roof. Situated on a prime land parcel of approximately 2 acres in Mankapur, Nagpur, the hospital’s strategic location attracts patients not only from Maharashtra but also from neighboring states like Madhya Pradesh and Chhattisgarh.
Fully commissioned in 2018-19, Alexis Hospital has quickly established itself as a trusted name among both healthcare professionals and patients. With a current run rate of Revenue and EBITDA at approximately INR 150 Crores and INR 25 Crores respectively, the hospital is poised for significant growth.
The acquisition, valued at INR 412 Crores, underscores Max Healthcare’s commitment to providing high-quality clinical care across tier 2 cities in India. With the addition of Alexis Hospital, Max Healthcare now boasts a network of four JCI-accredited facilities, further cementing its position as a leader in the healthcare sector.
Commenting on the acquisition, Mr. Abhay Soi, Chairman and Managing Director of Max Healthcare Institute Ltd., expressed, “The acquisition of Alexis Hospital aligns with our vision to expand our presence in regions with abundant clinical talent and robust healthcare infrastructure. This strategic move will enable us to deliver best-in-class healthcare services to the people of Maharashtra.”
In response to the transaction, Mrs. Zanubia Shams, Co-Chairperson of Zulekha Healthcare Group, the promoter of Alexis Hospital, remarked, “We are delighted to have Max Healthcare, India’s leading healthcare service provider, acquire our hospital in Nagpur. While we have built a world-class facility, our decision to divest this business is driven by our strategic focus on healthcare ventures in the UAE and Gulf. We are confident that Max Healthcare will elevate the quality of care in Nagpur to new heights.”
The share purchase agreement for the acquisition of Alexis Multi-Speciality Hospital Private Limited has been finalized, marking the beginning of a new chapter in healthcare excellence for Nagpur and the broader region.