Max Healthcare Institute Ltd has recently informed exchanges that the company has signed a strategic collaboration agreement with Lakshdeep Group, the ultimate promoter group of Jaypee Healthcare Limited (“JHL”), which is now undergoing the Corporate Insolvency Resolution Process (“CIRP”). With the collaboration and proposed acquisition, MHIL will have a controlling stake in JHL, which includes its flagship asset, the well-known 500-beds Jaypee Hospital, Noida.
In the exchange filing, the company shared, “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-bedsJaypee 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 known for its exceptional medical care and devotion to patient well-being, making it a popular healthcare destination for Noida residents and those in the surrounding area.
