M&A

M&A

Max Healthcare Institute to acquire Eqova Healthcare

BSE Disclosure  

Publicly listed healthcare provider Max Healthcare Institute Ltd is to acquire fellow New Delhi-based Eqova Healthcare Pvt Ltd. Eqova has long-term exclusive rights to aid the development of and provide medical services to a 400-bed hospital to be built on 2.1 acres of land in Patparganj, Delhi, owned by Nirogi Charitable and Medical Research Trust. Max will make an upfront purchase of 26% stake, with an escrow mechanism set up for additional 34% under call/put options to be exercised linked to the achievement of certain milestones. The hospital will be located on NH 24 expressway and falls on the metro corridor. The site is around 800 metre from the existing 402 bed Max Super Speciality Hospital, Patparganj. Presently, a 20-bed hospital is operating at the site.