The partnership deal has been signed between Max Healthcare and the Singapore-based BK Modi Group Company’s Smart Group, which manages and operates the Saket City Hospital (SCH) until now.
Max Healthcare (MHC) has announced its partnership with Smart Group, under which, the former would acquire 51 per cent stake in Saket City Hospital Pvt Ltd. International consultancy Ernst & Young acted as the Advisor to the transaction.
Currently, the Singapore-based BK Modi Group Company manages and operates the Saket City Hospital (SCH). The transaction is subject to confirmatory diligence, requisite regulatory approvals and other customary conditions.
Commenting on the matter, Rahul Khosla, MD, Max India and Chairman, Max Healthcare, said, “Max Healthcare is confident that this acquisition will provide significant opportunities through the realisation of a clear vision that includes setting up a world class centre dedicated to Oncology, development of high end Neurosciences capabilities, expansion of tertiary and quaternary specialities, installation of facilities to cater to transplants, deployment of high end technology solutions such as robotics to improve care and safety as well as to address the growing burden of lifestyle related, especially non communicable diseases."
Located in the heart of South Delhi, SCH, which started operations in 2013, has 230 operational beds and is currently expanding to 300 beds. Max Healthcare plans to further expand this facility by 900 additional beds, thereby expanding SCH’s capacity to 1200 beds.
SCH will be rebranded as Max Smart Super Speciality Hospital to reflect the shared vision of the two partners. This addition represents a more than 50 per cent increase compared to Max Healthcare's current capacity and will significantly enhance access to quality healthcare.
“The partnership between Smart Health City and Max Healthcare will be transformational for healthcare delivery in North India. Max’s reputation as a premier healthcare provider and the expertise of their international JV partner, Life Healthcare, South Africa, will act as a catalyst for Smart Health City’s aspirations of creating a world class healthcare destination. I am now confident of providing India a health facility we will all be proud of,” said Dr B K Modi, Founder & Chairman, Smart Global Group.
Combined with Max Healthcare's existing and contiguously located flagship facility, Max Super Specialty Hospital - Saket will have a footprint of more than 2000 beds in Saket - making it one of the largest single-location healthcare facilities in India.