Max Healthcare Institute Ltd. (MHIL, 'the Company'), one of the largest private sector healthcare services companies in India, today announced its entry into Pune with a 450-beds super speciality hospital, involving an investment of over INR 1000 cr.
The state-of-the-art facility, situated in Yerawada, Pune-one of the city's prime and centrally located areas, is expected to be commissioned over the next 3 years. The hospital, will mark Max Healthcare's fourth facility in Western India, further strengthening Max Healthcare's presence in Maharashtra.
Commenting on the development, Mr. Abhay Soi, Chairman and Managing Director, Max Healthcare Institute Ltd., said: "Pune is one of India's fastest-growing urban centers with a strong economic base and rapidly expanding middle-class population. There is a growing need for a highend super speciality hospital equipped with state-of-the-art technology that Max Healthcare is renowned for. This proposed hospital will bring advanced medical care closer to patients in the region. Our entry into Pune is a strategic milestone for Max Healthcare and aligns with our long-term vision of expanding our presence in key healthcare markets across the country. We see this as first amongst the few that we intend to establish in this market."
The transaction involves staggered acquisition of a 100% equity stake in Yerawada Properties Private Limited (YPPL), Pune and further development of the hospital over the course of next 3 years.
Shares of Max Healthcare Institute Limited was last trading in BSE at Rs. 1048.75 as compared to the previous close of Rs. 1031.65. The total number of shares traded during the day was 100922 in over 5882 trades.
The stock hit an intraday high of Rs. 1060.85 and intraday low of 1027.40. The net turnover during the day was Rs. 105447524.00.