M&A

M&A

Max Healthcare buys 64% in Jaypee Healthcare at Rs,1,660-Cr enterprise valuation

Business Line  

Delhi-based Max Healthcare is in pact with Lakshdeep Group for acquisition of a 64% stake in Jaypee Healthcare Ltd for an enterprise value of USD 1,660 crore.Jaypee Healthcare is a subsidiary of the debt-ridden Jaypee Infratech; and is currently undergoing corporate insolvency proceedings. Lakshdeep Group entities are indirect holding companies of Jaypee Healthcare, who have been permitted to work out a viable solution in relation to the latter's revival.This acquisition will give Max Healthcare access to Jaypee’s flagship asset, the 500-bed facility at Noida. The acquisition will also include the 200-bed Jaypee Hospital Bulandshahr. Jaypee Healthcare also owns a 100-bed hospital at Anoopshahar, which is currently non-operational.Jaypee Healthcare reported a revenue of INR 421 crore and EBITDA of INR 70 crore in FY24.