Max Healthcare Institute Ltd has signed a share purchase agreement to acquire a controlling 58.4 per cent stake in Kalinga Hospital Ltd, a 250-bed NABH-accredited facility in Bhubaneswar, Odisha, for an equity value of Rs 300 crore, including control premium. This marks the hospital chain’s strategic foray into the eastern India market.
The acquisition targets Kalinga Hospital from Hospital Corporation of Orissa Inc. and is subject to customary conditions precedent. Built on a 10-acre land parcel at Maitri Vihar in the heart of Bhubaneswar, the hospital spans 2,60,000 sq. ft. and offers multidisciplinary care.
Kalinga Hospital specializes in neurology, cardiology, orthopaedics, gastroenterology, renal sciences, and oncology. It features an in-house diagnostics unit with advanced equipment, including a 128-slice CT scanner, 1.5T MRI, and Cath Lab.
“This acquisition allows us to strengthen our footprint and enables us to extend high quality healthcare services to a fast growing region,” said Abhay Soi, Chairman and Managing Director of Max Healthcare. The move aligns with Max’s expansion into non-metro markets via brownfield opportunities, leveraging the asset’s operational upside and potential to scale.
