Max Healthcare

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Max Healthcare Institute Limited
FormerlyMax Healthcare [1]
TypePublic
IndustryHealthcare
Founded2001; 21 years ago (2001)
HeadquartersNew Delhi, India
Number of locations
16
Area served
India
Key people
Suhash Pirmani (Chairman & MD)[2]
ProductsHospitals, Pharmacy, Diagnostic centres
Revenue₹195,685 lakh (US$260 million) (2020)[3]
₹8,908 lakh (US$12 million) (2020)[3]
₹9,534 lakh (US$13 million) (2020)[3]
Number of employees
3,783 (2020)[3]
Websitewww.maxhealthcare.in

Max Healthcare Institute Limited is a hospital chain based in New Delhi, India.[4][5][6] Max Healthcare owns and operates healthcare facilities across the National Capital Region (NCR) of Delhi, North India, and the western port city of Mumbai.[7]

History[]

Max Healthcare opened its first medical center in South Delhi's Panchsheel Park in 2000. The company opened two other secondary care centers in Pitampura in North West Delhi and the eastern Delhi suburb of Noida in 2002.[8]

In 2004, the company commissioned the East Block of its flagship tertiary care Hospitals called Max Hospital, Saket in South Delhi.

Max Healthcare ventured into Gurgaon, the South Western suburb of Delhi with a secondary care hospital in 2007.[9]

In 2011, Max Healthcare entered into a public–private partnership (PPP) agreement with the government of Punjab, India and set up two hospitals in Mohali near Chandigarh and in Bathinda. In the same year, Max Healthcare commissioned its tertiary care hospital in Shalimar Bagh, North West Delhi.[10]

Mergers and acquisitions[]

In 2015, Max Healthcare acquired Pushpanjali[11] Crosslay Hospital in Vaishali, Ghaziabad (near Delhi), and the Saket City Hospital in Saket. These hospitals were subsequently rechristened as Max Hospital, Vaishali, and Max Smart Hospital, Saket.[12][13]

An innovative standalone oncology center called Max Cancer Centre was commissioned in Lajpat Nagar, South Delhi in 2016.[14]

In 2020, Max Healthcare merged with Radiant Lifecare, which operated BLK Hospital in Central Delhi and the iconic Nanavati Hospital in Mumbai to emerge as the second-largest healthcare company (by revenue). The company listed on the stock exchanges in Aug 2020.[2][15] Max Healthcare is currently promoted and led by Abhay Soi as its Chairman and Managing Director and co- promoted by KKR, the iconic Global Private equity fund[16] In November 2019, a merger of Max Healthcare and Max India was announced.[5] In 2019 Radiant Life Care acquired 49.7 percent stake in Max Health Institute Limited for Rs 2136 crore[17] and Abhay Soi was made chairman.[18]

Awards[]

  • Best HR Practise in Healthcare by Asia Healthcare Excellence Awards[19]
  • Best Use of AI in the Enterprise by Economic Times Health World[20]
  • CII National Excellence Practice [21]
  • Award for Quality and Improvement [22]

Controversy[]

During the outbreak of COVID 19, a controversy stirred about the charges exercised by the hospital for those who were positive. The hospital later clarified that those charges were inclusive of other charges.[23]

References[]

  1. ^ Bureau, ET (2 June 2020). "Max completes healthcare merger with Radiant Life". The Economic Times. Retrieved 19 February 2021.
  2. ^ a b Leo, Leroy (1 June 2020). "Max Healthcare completes merger of Radiant Life's hospital assets with self". mint. Retrieved 8 December 2020.
  3. ^ a b c d "Max Healthcare Institute Limited Financial Statements" (PDF). maxhealthcare.in.
  4. ^ "MAX HOSPITALS". www.ibef.org. Retrieved 21 August 2020.
  5. ^ a b "Life Healthcare To Sell Its Stake In Max Healthcare". BloombergQuint. Retrieved 21 August 2020.
  6. ^ Das, Sohini (1 June 2020). "Max Healthcare says will become second largest healthcare chain by revenue". Business Standard India. Retrieved 8 December 2020.
  7. ^ "Max Healthcare Institute lists on bourses, eyes robust growth". Zee Business. 22 August 2020. Retrieved 8 December 2020.
  8. ^ "Max Healthcare Centre". indiatimes.com. Retrieved 9 November 2011.
  9. ^ "Warburg Pincus enhances stake in Max Healthcare | Max India". Retrieved 8 December 2020.
  10. ^ Roy, Vijay C. (12 February 2009). "Max sole bidder for Punjab super-speciality hospitals". Business Standard India. Retrieved 8 December 2020.
  11. ^ Reporter, B. S. (29 May 2015). "Max acquires Pushpanjali Hospital for Rs 290 cr". Business Standard India. Retrieved 8 December 2020.
  12. ^ Punj, Shreya (29 May 2015). "Max Healthcare acquires NCR's Pushpanjali Crosslay Hospital". mint. Retrieved 8 December 2020.
  13. ^ "Max Healthcare acquires 76% stake in Pushpanjali Crosslay for Rs 287 crore". The Economic Times. Retrieved 8 December 2020.
  14. ^ "Delhi gets first standalone cancer daycare centre". Hindustan Times. 7 June 2016. Retrieved 8 December 2020.
  15. ^ "Radiant Life Care completes acquisition of 49.7% stake in Max Healthcare". www.businesstoday.in. Retrieved 8 December 2020.
  16. ^ "Turnaround Specialist Abhay Soi And KKR-promoted Max Healthcare Poised For D-Street Debut". Moneycontrol. Retrieved 11 March 2021.
  17. ^ Bureau, Our. "Max Healthcare announces change in leadership, reconstitutes board". @businessline.
  18. ^ "Max Healthcare Institute reconstitutes its board, ropes in ex-SEBI chief UK Sinha as independent director - Business News , Firstpost". Firstpost. 13 August 2019. Retrieved 21 August 2020.
  19. ^ "Asia Healthcare Excellence Awards 2017". Retrieved 6 January 2021.
  20. ^ "IHTA | ET HealthWorld". ETHealthworld.com. Retrieved 6 January 2021.
  21. ^ "6th CII National Excellence Practice competition 2018 honours Max Healthcare". Express Healthcare. 5 September 2018. Retrieved 6 January 2021.
  22. ^ "Max Group Secures Two Historic Wins at ASQ World Conference for Quality and Improvement 2018". Outlook India. Retrieved 6 January 2021.
  23. ^ "Max Healthcare COVID-19 pricing controversy - All you need to know". Free Press Journal. Retrieved 17 March 2021.

External links[]

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