Max Healthcare acquires Starlit Medical Centre for ₹940 crore; details here
Max Healthcare Institute Ltd announced its complete acquisition of Starlit Medical Centre Pvt Ltd for an enterprise value of ₹940 crore, on Friday. This strategic move grants Max Healthcare ownership of the 550-bed Sahara Hospital located in Lucknow. The company has successfully finalized a binding share purchase agreement (SPA) to acquire a full 100% stake in Starlit Medical Centre Pvt Ltd.
Starlit Medical Centre had previously engaged in a business transfer agreement with Sahara India Medical Institute Ltd, involving the acquisition of the healthcare undertaking, which encompasses the 550-bed Sahara Hospital in Lucknow. Furthermore, this transaction is structured on a slump sale basis, as outlined in the statement from Max Healthcare Institute. The hospital is located on a land parcel of ~27 acres at Gomti Nagar, Lucknow, an upmarket residential and commercial hub.
It is housed in a 17-storey building with a built-up area of ~ 8.9 Lakh sq ft. and offers multi-disciplinary care in various specialties like Gastroenterology, Neuro, Surgery, Cardiology, Pulmonology and diagnostics facilities. It also has a Nursing College on the same premises, which offers GNM, BSc and MSc courses, with annual intake of 100+ students.
The Share Purchase Agreement (SPA) was successfully executed with an enterprise value of ₹940 crore, facilitated through one of the company's wholly-owned subsidiaries, Crosslay Remedies Ltd (CRL). This strategic acquisition signifies Max Healthcare's entry into Lucknow, a rapidly growing city in Uttar Pradesh. The acquired Sahara Hospital is a tertiary care facility, offering comprehensive healthcare services that encompass a wide range of super specialties, including gastroenterology, neurology, surgery,
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