Insta
(Website/Lets Intern)
Radiant Life Care, hospital-management company and KKR, a global asset manager, have concluded a deal to acquire majority stake in Max Healthcare Institute Limited, reports Business Standard (BS).
“The proposed acquisition of a majority stake in Max Healthcare marks an exciting step forward in our strategy to increase scale by merging with a leading and complementary hospital network. We are fortunate to have strong support from KKR as we continue our mission of providing superior medical services in India,” said Radiant Life Care CMD, Abhay Soi.
The Radiant-Max deal would create North India’s largest hospital network. The merged entity will also operate the third largest hospital network in India by revenue and fourth largest concerning operating beds, with 3,200 beds throughout 16 hospitals across India.
The acquisition would first involve the purchase of 49.7 per cent stake in Max Healthcare, a unit of Max India, by Radiant from the South Africa firm, Life Healthcare. Later, Max Bupa and Antara Senior Living, two other units of Max India, will be de-merged from Max Healthcare.
Following the demerger, Radiant Life will merge itself with the remaining assets of Max Healthcare. In the combined entity, KKR will own 51.9 per cent and Soi of Radiant Life will hold 23 per cent.
On 13 December, it was reported that Radiant Life Care was pursing talks with Max for a merger.
Support Swarajya's 50 Ground Reports Project & Sponsor A Story
Every general election Swarajya does a 50 ground reports project.
Aimed only at serious readers and those who appreciate the nuances of political undercurrents, the project provides a sense of India's electoral landscape. As you know, these reports are produced after considerable investment of travel, time and effort on the ground.
This time too we've kicked off the project in style and have covered over 30 constituencies already. If you're someone who appreciates such work and have enjoyed our coverage please consider sponsoring a ground report for just Rs 2999 to Rs 19,999 - it goes a long way in helping us produce more quality reportage.
You can also back this project by becoming a subscriber for as little as Rs 999 - so do click on this links and choose a plan that suits you and back us.
Click below to contribute.
Latest