Max Healthcare enters into Strategic Collaboration with Lakshdeep Group for acquisition of controlling stake in Jaypee Healthcare

New Delhi: Max Healthcare Institute Ltd, one of India’s largest private healthcare providers, has announced that it has entered into a Strategic Collaboration Agreement with Lakshdeep Group, the ultimate promoter group of Jaypee Healthcare Limited – which is undergoing Corporate Insolvency Resolution Process (CIRP).

This Strategic Collaboration and proposed acquisition will give MHIL a controlling stake in JHL, including its flagship asset, the renowned 500-beds Jaypee Hospital, Noida. Under the agreement, MHIL shall organize debt for repayment of admitted claims of the financial creditors of JHL and proposes to simultaneously acquire ~64% stake in the company, with call and put option for the remaining stake. The acquisition is based on an enterprise value of INR 1,660 Crore, reflecting JHL’s strong market position, which includes two operational hospitals i.e. 500-beds Jaypee Hospital, Noida and 200-beds Jaypee Hospital Bulandshahr, built on land parcel of 18 acre and 5.75 acre respectively. Further JHL also owns a 100-beds hospital spread over 2.35 acres at Anoopshahar, which is currently non-operational. JHL reported revenue of INR 421 crore and EBITDA of INR 70 crore for the year 2023-24.

Jaypee Hospital Noida is recognized for its exceptional medical care and commitment to patient wellbeing, making it a trusted healthcare destination for residents of Noida and surrounding region. This acquisition will significantly enhance MHIL’s network and strengthen its leadership position in NCR.