November 04, 2024 23:40 (IST)
Follow us:
facebook-white sharing button
twitter-white sharing button
instagram-white sharing button
youtube-white sharing button
US presidential election: Donald Trump ahead of Kamala Harris in swing states, poll survey predicts | 'I strongly condemn Hindu temple attack, intimidation of our diplomats': PM Modi amid Canada row | 'I strongly condemn Hindu temple attack, intimidation of our diplomats': PM Modi amid Canada row | PM Modi slams INDIA block for its silence over Sena UBT leader's sexist remark against Shaina NC | PDP member brings anti-Article 370 resolution in J&K assembly; BJP resists, CM Abdullah says only govt can do it
Max Healthcare acquires 64% stake in Jaypee Healthcare
Photo courtesy: Pixabay

Max Healthcare acquires 64% stake in Jaypee Healthcare

| @indiablooms | 14 Sep 2024, 01:44 am

Mumbai: Max Healthcare Institute Ltd.’s board has approved a strategic partnership with the Lakshdeep Group, promoters of Jaypee Healthcare Ltd. (JHL), by facilitating the repayment of JHL’s financial debts, media reports said.

Under this development, Max Healthcare has acquired a 64% stake in the company, reported NDTV profit.

The company also retains the option to buy the remaining shares in JHL, which is currently undergoing the corporate insolvency resolution process, as per an exchange filing.

The acquisition, valued at Rs 1,660 crore, will expand Max Healthcare’s network and strengthen its leadership in the NCR region, according to the report.

This collaboration and acquisition will give Max Healthcare a controlling stake in Jaypee Healthcare, including its key 500-bed Jaypee Hospital in Noida.

JHL's assets consist of two operational hospitals—the 500-bed facility in Noida and a 200-bed hospital in Bulandshahr—along with a non-operational 100-bed hospital in Anoopshahar.

In FY 2023-24, JHL reported revenues of Rs 421 crore and an EBITDA of Rs 70 crore, the report said.

 

Support Our Journalism

We cannot do without you.. your contribution supports unbiased journalism

IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.

Support objective journalism for a small contribution.