Max Healthcare Institute Ltd. (MHIL), a leading private healthcare provider in India, has entered into a strategic partnership with Lakshdeep Group, the promoter of Jaypee Healthcare Limited (JHL), which is currently undergoing Corporate Insolvency Resolution Process (CIRP). This collaboration will allow MHIL to acquire a controlling stake in JHL, including its flagship 500-bed Jaypee Hospital in Noida.
As part of the agreement, MHIL will secure debt to settle JHL’s financial creditors and aims to acquire approximately 64% of JHL, with options for the remaining shares. The deal values JHL at INR 1,660 crore, reflecting its strong market presence and assets, including the 500-bed Jaypee Hospital Noida, the 200-bed Jaypee Hospital Bulandshahr, and a non-operational 100-bed hospital in Anoopshahar. JHL reported a revenue of INR 421 crore and an EBITDA of INR 70 crore for the 2023-24 fiscal year.
Jaypee Hospital Noida, renowned for its exceptional care, will join Max Healthcare’s network, enhancing its presence in NCR. Mr. Abhay Soi, Chairman of Max Healthcare, highlighted this acquisition as a major step in strengthening their foothold in the region and expanding healthcare services. The deal, expected to finalize in 30 days per the NCLAT-approved revival plan, will boost JHL’s growth and community service under Max Healthcare’s strategic partnership.