Max Healthcare Institute acquires stake in Eqova Healthcare

Today it announced the deal to purchase Eqova Healthcare Private Limited, a company with long term exclusive rights to help develop and provide medical services to a 400 beds hospital to be built on 2.1 acres of land parcel in Patparganj

Max Healthcare Institute is one of India’s largest private healthcare providers. Today it announced the deal to purchase Eqova Healthcare Private Limited, a company with long term exclusive rights to help develop and provide medical services to a 400 beds hospital to be built on 2.1 acres of land parcel in Patparganj, Delhi, which is owned by Nirogi Charitable and Medical Research Trust. 

The hospital will be situated on NH 24 expressway and is close to the metro corridor, only 300 metres from IP Extension Metro Line. The site is 800 metres away from the existing 402 bed Max Super Speciality Hospital, Patparganj, which have been consistently reporting a high level of occupancies (more than 81 per cent during the FY18-FY20 period). The hospital shall therefore have both revenue and cost integration with the present facility. At the moment, a 20 beds hospital is functioning at the location. Under phase 1, a contract of 250 beds will be ordered and the hospital will have high-end medical programmes such as oncology, organ transplant and offer multi-disciplinary care in the area of cardiac sciences, neurosciences, renal sciences. 

More than 150 beds will be operationalised in phase 2 after completing phase 1. The hospital, after fully operational, shall directly create employment of 2,000 people and provide free treatment for 60,000 patients that belong to the economically weaker section annually in its in-patient and out-patient departments.The stock has gained 26 per cent in the last six months and is trading in red today, down by Rs 4.40 at Rs 379.65.