Max Healthcare

Max Healthcare Institute Limited is an Indian for-profit private hospital chain headquartered in Delhi, India.[4][5][6] Max Healthcare owns and operates healthcare facilities across Delhi National Capital Region, as well as one hospital each in Mohali, Bathinda, Dehradun, and Mumbai.[7] Max Lab is the pathology division of the organization. Max@Home is the home medical services division.[8]

Max Healthcare Institute Limited
TypePublic
IndustryHealthcare
Founded2001 (2001)
HeadquartersNew Delhi, India
Number of locations
17
Area served
India
Key people
Abhay Soi (Chairman & MD)[1]
Products
RevenueIncrease ₹5,902 crore (US$740 million) (FY23)[2]
Increase ₹1,328 crore (US$170 million) (FY23)[2]
Number of employees
3,783 (2020)[3]
Websitewww.maxhealthcare.in

Currently, Max Healthcare operates 17 hospitals[9][10] with 3500+ beds[11] and 4800+ clinicians.[12] The company operates Patient Assistance Centers in Nairobi, Kenya, Lagos, Nigeria and in Dubai, UAE.[13]

History

Max Healthcare opened its first medical center in South Delhi's Panchsheel Park in 2000. The company opened two other secondary care centers in Pitampura in North West Delhi and the eastern Delhi suburb of Noida in 2002.[14]

In 2004, the company commissioned the East Block of its flagship tertiary care Hospitals called Max Hospital, Saket in South Delhi.

Max Healthcare ventured into Gurgaon, the South Western suburb of Delhi with a secondary care hospital in 2007.[15]

In 2011, Max Healthcare entered into a public–private partnership (PPP) agreement with the government of Punjab, India and set up two hospitals in Mohali near Chandigarh and in Bathinda. In the same year, Max Healthcare commissioned its tertiary care hospital in Shalimar Bagh, North West Delhi.[16]

In 2012, Life Healthcare Group acquired a 26% stake in Max Healthcare for ₹516 crore. In 2014, Life Healthcare Group invested another ₹766 crore in the company to increase its stake to 46.41% and to become an equal joint venture partner with Max India.[17]

Nanavati Max Super Speciality Hospital in Mumbai

In 2015, Max Healthcare acquired Pushpanjali Crosslay Hospital in Vaishali, Ghaziabad,[18] and the Saket City Hospital in Saket. These hospitals were subsequently rechristened as Max Hospital Vaishali, and Max Smart Hospital, Saket.[19][20]

A standalone oncology center called Max Cancer Centre was commissioned in Lajpat Nagar, South Delhi in 2016.[21]

In 2018, Life Healthcare Group announced that it would sell its entire 49.7% stake in Max Healthcare and exit its joint venture with Max India.[5] In 2019, Radiant Lifecare acquired 49.7% stake in Max Health Institute Limited for ₹2136 crore[22][23] and Abhay Soi was made chairman.[24] In 2020, Max Healthcare merged with Radiant Lifecare, which operated BLK Hospital in Central Delhi and the Nanavati Hospital in Mumbai, to emerge as the second-largest healthcare company by revenue.[25][1]

The company listed on the stock exchanges in August 2020.[26] Between 2021 and 2022, co-promoter KKR & Co. Inc. sold its entire stake in Max Healthcare. As a result, Abhay Soi became the sole promoter of the company with over 23% stake.[27]

The company has raised INR 1,200 Crore equity through Qualified Institutional Plan [28] and acquired exclusive rights to aid the development of a 500-bed hospital in South Delhi.[29] It secured two prime land parcels in Gurugram with the potential to add 1,000 beds.[30] The company also executed an O&M agreement for the first asset-light model in Dwarka, Delhi for 300+ beds.[31] It acquired a stake in Eqova Healthcare having the potential to add 400+ beds in the East Delhi.[32]

Education and research

Max Institute of Medical Excellence (MIME) has trained [33] more than in life support programs in the last five years and held various training programs[34] across multiple disciplines

Here are some of the courses offered:

Instrumentation

Max Healthcare has the following equipment:

Awards
  • Abhay Soi, Chairman and MD, Max Healthcare Institute, winner of the business transformation category EY Entrepreneur Of The Year, 2021.[43]
  • Abhay Soi, Chairman and MD, Max Healthcare Institute, Winner of the Forbes India Entrepreneur of the Year 2022 Award.[44]
  • AHPI Award for Quality beyond Accreditation Max Healthcare 2022[45]
  • Max Super Speciality Hospital, Saket won AHPI Award 2022 for Digital/ Smart Hospital during AHPI Global Conclave, 2022[46]
  • AHPI Award, 2021 for Excellence in COVID Management Max Saket[47]
  • Won INDIA TODAY – RPG Happiness Award for Compassionate Healthcare Provider (Hospital), 2022[48]
  • AHPI Healthcare Excellence Award in the category of ‘Patient friendly hospital’, 2022 BLK-Max[49]
  • Received Economic Times Best Multi Speciality Hospital- North Award, Economic Times Best Hospital- Orthopedic Award[50]
  • Best Hospital Nephrology North India in Economics Times Healthcare Awards, 2021 Max Vaishali[45]
  • Best Hospital Oncology North India in Economics Times Healthcare Awards, 2021 Max Vaishali[45]
  • Excellence Award in Intelligent Hospital category – announced by AHPI in March 2021 Nanavati Max[43]
  • AHPI Patient Friendly Hospital Award – Global Conclave, 2022 Nanavati Max [46]
  • CIMS Healthcare Excellence Awards, 2021 Nanavati Max [47]
  • International Excellence award at the prestigious IHF (International Hospital Federation) Awards - 2021 [48]
  • Won the AHPI Healthcare award under the Excellence in community engagement category in March 2022[45]
  • ET Healthcare Awards 2021 - Best Hospital - Neurology North Max Shalimar Bagh[45]
  • Won 1st Prize ‘Excellence in Hospital Management during COVID Times’, by Economic Times Healthcare Awards 2021[45]
  • AHPI Healthcare Excellence Award in the category of Excellence in Community Engagement, 2022[45]
  • AHPI Award for ‘Patient friendly hospital’ Max Dehradun [45]

Subsidiaries

Controversy

During the outbreak of COVID-19, a controversy stirred about the charges exercised by the hospital for those who were positive. The hospital later clarified that those charges were inclusive of other charges.[52]

References
  1. Leo, Leroy (1 June 2020). "Max Healthcare completes merger of Radiant Life's hospital assets with self". mint. Retrieved 8 December 2020.
  2. "Max Healthcare Q4 PAT rises 86% to Rs 320 crore". The Indian Express. 16 May 2023. Retrieved 29 May 2023.
  3. "Max Healthcare Institute Limited Financial Statements" (PDF). maxhealthcare.in.
  4. "MAX HOSPITALS". www.ibef.org. Retrieved 21 August 2020.
  5. "Life Healthcare To Sell Its Stake In Max Healthcare". BloombergQuint. 20 September 2018. Retrieved 21 August 2020.
  6. Das, Sohini (1 June 2020). "Max Healthcare says will become second largest healthcare chain by revenue". Business Standard India. Retrieved 8 December 2020.
  7. "Max Healthcare Institute lists on bourses, eyes robust growth". Zee Business. 22 August 2020. Retrieved 8 December 2020.
  8. Anand, Kshitij (17 November 2022). "Fundamental Radar: Why Max Healthcare could touch fresh record highs and scale Rs 500 levels in next 1 year". The Economic Times. ISSN 0013-0389. Retrieved 9 July 2023.
  9. Laskar, Anirudh (14 July 2022). "KKR might sell entire stake in Max Healthcare for ₹12,000cr". mint. Retrieved 9 July 2023.
  10. "Best Hospitals in Delhi NCR, India: Multispeciality Hospital, Book an Appointment | Max Hospital". www.maxhealthcare.in. Retrieved 31 May 2023.
  11. "Max Healthcare s PAT Nearly Doubles In Q4FY23 Records Revenue At Rs 1 637 Cr". BW Defence. Retrieved 10 July 2023.
  12. "Max Healthcare: locations, list of hospitals and doctors, logo, FAQs". myUpchar. Retrieved 10 July 2023.
  13. "Max Healthcare Institute Directors Report | Max Healthcare Institute Director Details". The Economic Times. Retrieved 10 July 2023.
  14. "Max Healthcare Centre". indiatimes.com. Retrieved 9 November 2011.
  15. "Warburg Pincus enhances stake in Max Healthcare | Max India". Retrieved 8 December 2020.
  16. Roy, Vijay C. (12 February 2009). "Max sole bidder for Punjab super-speciality hospitals". Business Standard India. Retrieved 8 December 2020.
  17. "Life Healthcare completes Rs 766 crore investment in Max Healthcare". The Economic Times. Retrieved 11 January 2023.
  18. Reporter, B. S. (29 May 2015). "Max acquires Pushpanjali Hospital for Rs 290 cr". Business Standard India. Retrieved 8 December 2020.
  19. Punj, Shreya (29 May 2015). "Max Healthcare acquires NCR's Pushpanjali Crosslay Hospital". mint. Retrieved 8 December 2020.
  20. "Max Healthcare acquires 76% stake in Pushpanjali Crosslay for Rs 287 crore". The Economic Times. Retrieved 8 December 2020.
  21. "Delhi gets first standalone cancer daycare centre". Hindustan Times. 7 June 2016. Retrieved 8 December 2020.
  22. "Radiant Life Care completes acquisition of 49.7% stake in Max Healthcare". www.businesstoday.in. Retrieved 8 December 2020.
  23. Bureau, Our. "Max Healthcare announces change in leadership, reconstitutes board". @businessline.
  24. "Max Healthcare Institute reconstitutes its board, ropes in ex-SEBI chief UK Sinha as independent director". Firstpost. 13 August 2019. Retrieved 21 August 2020.
  25. Bureau, ET (2 June 2020). "Max completes healthcare merger with Radiant Life". The Economic Times. Retrieved 19 February 2021.
  26. "Turnaround Specialist Abhay Soi And KKR-promoted Max Healthcare Poised For D-Street Debut". Moneycontrol. 18 August 2020. Retrieved 11 March 2021.
  27. Dhanjal, Swaraj Singh; Laskar, Anirudh (16 August 2022). "KKR sells Max stake in PE's largest exit". mint. Retrieved 24 December 2022.
  28. "Max Healthcare raises Rs 1,200 cr via QIP issue route". The Economic Times. 10 March 2021. ISSN 0013-0389. Retrieved 10 July 2023.
  29. "Delhi: Another Max Hospital to come up in Saket". The Indian Express. 29 August 2021. Retrieved 10 July 2023.
  30. www.ETHealthworld.com. "Max Healthcare plans Rs 1,600 cr investment to add around 1,000 beds in Gurugram - ET HealthWorld". ETHealthworld.com. Retrieved 10 July 2023.
  31. Pilla, Viswanath (20 January 2022). "Max Healthcare to manage 300 bed Muthoot Hospitals in Delhi suburb". The Economic Times. ISSN 0013-0389. Retrieved 10 July 2023.
  32. "Max Healthcare Institute to acquire Eqova Healthcare". www.thehindubusinessline.com. 11 February 2022. Retrieved 10 July 2023.
  33. "Dr Dibya Singha Das lauded one top joint replacement surgeons country". International Business Times. 16 August 2021.
  34. "Max institute to conduct emergency medicine exam". Amar Ujala (in Hindi). Retrieved 10 July 2023.
  35. Bureau, EH News (17 January 2020). "Max Healthcare joins hands with The Royal College of Physicians to organise General Medicine Symposium". Express Healthcare. Retrieved 10 July 2023.
  36. "Lincoln American University collaborates with Singhania University to help Indian medical aspirants". The Print. 6 August 2021.
  37. "Max Hospital in Mohali launches surgical robot". Hindustan Times. 5 August 2022. Retrieved 10 July 2023.
  38. "Max Hospital Saket launches AI based cancer treatment technology". Zee News. Retrieved 10 July 2023.
  39. "BLK-Max Super Specialty Hospital introduces GPS-enabled robotic system for spinal surgeries". Financialexpress. 14 December 2022. Retrieved 10 July 2023.
  40. Das, Sohini (23 February 2023). "No link between heart burn drug ranitidine and cancer nature study". Business Standard.
  41. "Max Healthcare Information". Business Standard.
  42. "Max Hospital, Patparganj employs Truebeam STx to treat cancer". IndiaMedToday. 9 October 2020. Retrieved 10 July 2023.
  43. "Abhay Soi | EY India". www.ey.com. Retrieved 10 July 2023.
  44. "Meet Abhay Soi, St Stephen's alumni who runs Rs 44,600 crore hospital chain, his net worth is..." DNA India. Retrieved 10 July 2023.
  45. "Association of Healthcare Providers (India)". ahpi.in. Retrieved 10 July 2023.
  46. "Celebrating joyfulness: Winners of India Today-RPG Happiness Award". India Today. Retrieved 10 July 2023.
  47. www.ETHealthworld.com. "ET Healthcare Awards 2023 - Health Awards | Healthcare Awards | ET HealthWorld". ETHealthworld.com. Retrieved 10 July 2023.
  48. "Association of Healthcare Providers (India)". ahpi.in. Retrieved 10 July 2023.
  49. Bureau, EP News (30 June 2021). "CIMS Medica hosts ninth edition of Healthcare Excellence Awards". Express Pharma. Retrieved 10 July 2023.
  50. HealthManagement.org. "Radiology Management, ICU Management, Healthcare IT, Cardiology Management, Executive Management". HealthManagement. Retrieved 10 July 2023.
  51. "Max Healthcare - A three-act play: growth, quality, returns" (PDF). HDFC securities. Retrieved 11 January 2023.
  52. "Max Healthcare COVID-19 pricing controversy - All you need to know". Free Press Journal. Retrieved 17 March 2021.
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