Acquisition JCI-Accredited 200-bedded Alexis Hospital, Nagpur
Max Healthcare Institute announced the acquisition of a 100 per cent stake in Alexis Multi-Speciality Hospital (Alexis) for an Enterprise Value of Rs 412 crores.
The 200-bedded hospital owned and operated by Alexis is a JCI-accredited facility located on a land parcel of ~2 acres at Mankapur, North of Nagpur – an upmarket residential and commercial hub. The hospital has G+6 floors and a basement with a built-up area of ~2.25 lakh square feet and offers multidisciplinary care in the areas of gastroenterology, neurosurgery, cardiology, transplants, related diagnostic facilities etc. The hospital is equipped with high-end bio-medical equipment like Varian True Beam LINAC, 128 Slice CT Scan, 3 Tesla MRI, Digital X-Ray, ARTIS Q Cath Lab, etc.
The bed capacity can be expanded to ~340 beds given the availability of the FAR for the given land and the strength of the existing structure. Further, the hospital medical program can be strengthened in the surgical specialities like CTVS, urology, oncology & neurosciences leading to improvement in average revenue per occupied bed (ARPOB) and occupied bed days (OBD).
The current run rate of Revenue & EBITDA for the Hospital is Rs ~150 crore & ~25 crore respectively. The hospital is generating cash & has good brand equity in the market in the region.
Abhay Soi, CMD, Max Healthcare Institute, said, “The acquisition of Alexis Hospital is in line with our vision to expand our footprint in tier II cities with an abundance of clinical talent and developed private healthcare infrastructure. Alexis Hospital’s acquisition will strengthen our presence in the Maharashtra region. With this addition, we now have four JCI-accredited facilities in our network & we look forward to bringing high-end quality care to people of the region.”
Zanubia Shams, Co-Chairperson of Zulekha Healthcare Group (Promoter of Alexis Hospital, Nagpur), said, “While we have built a world-class hospital facility, at par with the best, in infrastructure, technology, and clinical services, our decision to consider divesting this business has been driven by our strategic focus on our healthcare businesses in the UAE and Gulf. We strongly believe that Max will further build on the quality of care we have been providing in this growing city in Central India and take Alexis to a higher level.”