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MAX INDIA LTD. - Updates
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28 May 2015
Max India Ltd has informed BSE that Max Healthcare Institute Limited, an equal joint-venture between the Company and Life Healthcare, South Africa. (MHC) with both shareholders holding 46% stake each in MHC, has executed definitive agreements on May 28, 2015 to acquire a controlling stake of 76% in NCR based Pushpanjali Crosslay Hospital (PCH) through a combination of fresh investment and acquisition of shares from existing promoters for an aggregate sum of Rs. 287 Cr. Situated just 4 kms from Max Super Speciality Hospital in Patparganj, the 340-bedded Pushpanjali Crosslay is located in a prime location along the East Delhi-Ghaziabad-Noida corridor. The hospital which has the capacity to expand up to 540 beds is NABH and NABL accredited and has been operational since 2010. PCH was founded by prominent Delhi clinician Dr Vinay Aggarwal along with a cooperative of around 250 doctors and 450 nursing staff. It had reported revenue of Rs. 143 Cr at an EBIDTA margin of 14% in FY2014.
View all announcements for MAX INDIA LTD. Source: BSE India