Max Healthcare acquires stake in Eqova Healthcare to develop 400 bed hospital in East Delhi
Max Healthcare on Friday said Max Healthcare said it has acquired Eqova Healthcare, a company with long term exclusive rights to develop and provide medical services to a 400 bed hospital in East Delhi.
The initial acquisition of majority stake is by way of upfront purchase of 26% stake, with an Escrow mechanism set up for additional 34% under call or put options to be exercised linked to achievement of certain milestones.
Max will pay Rs 47.18 crore for the acquisition of an initial tranche of 26%. Max said the phase-1 of the acquired project which consists of 250 beds is expected to be commissioned by H1FY26 and has potential to expand to 400 beds in Phase 2. The proposed hospital is coming up on a land parcel of 2.1 acres located adjacent to the existing Max facility in Patparganj which has been consistently operating at occupancy levels upwards of 81% for the past few years.