Max Healthcare to invest Rs 5K cr to double its capacity

New Delhi: Max Healthcare Institute Ltd will invest over Rs 5,000 crore to more than double its bed capacity to over 8,000 beds in the next four to five years with half of the investment to be made in Uttar Pradesh, according to its Chairman and MD Abhay Soi.

The company, which had last year acquired Sahara Hospital in Lucknow for an enterprise value of Rs 940 crore has renamed it as Max Super Specialty Hospital, Lucknow. It plans to invest Rs 2,500 crore in Uttar Pradesh (UP) which includes setting up of a new 500 beds hospital on 5.6-acre parcel of land located at Shaheed Path and augmentation of capacity of the acquired facility. The healthcare major expects to create over 10,000 jobs through its two facilities in the State.

"UP is a State which is marching towards becoming a $1 trillion economy by 2027. There is a tremendous amount of development which is happening. "For the development of any economy it is a prerequisite that healthcare also develops over there... We wanted to participate in the development of the State," Soi told. He further said, "Given the development which is happening (in the State) and the increase in per capita income, it calls for much larger investment in healthcare." On the immediate expansion in UP, he said at Max Super Specialty Hospital, Lucknow, which is a 550-bed hospital, the company is "looking at expanding by another 300-odd beds going forward". "Other than this we have acquired land for a greenfield hospital at Shaheed Path for another 500 beds.

Between these, we will have over 2,000 beds in the next few years... This would be at an investment of Rs 2,500 crore and we will be employing more than 10,000 people." With this, Max Healthcare will be the largest private healthcare network in UP, he asserted.

When asked if Max Healthcare Institute will be focusing only on UP for its expansion in the near future, he replied in the negative.