New Delhi, Apr 8 (PTI) Max Healthcare Institute Ltd on Wednesday said it has entered into a share purchase agreement to acquire a controlling stake of 58.4 per cent in Kalinga Hospital Ltd (KHL) from Hospital Corporation of Orissa Inc. at an equity value of Rs 300 crore including control premium.
The development marks Max Healthcare Institute's foray into Bhubaneswar, Odisha.
Operating since 1997, the 250-bedded, NABH accredited, Kalinga Hospital offers super specialty services for Neuro, Cardio, Ortho, Gastro, Med Onco and Renal Sciences.
Spread over 10 acres of land in Maitri Vihar, Bhubaneswar, with a built-up area of about 2,60,000 sq ft, the facility allows for long term expansion of capacities and services with potential to have over 1,000 beds in the same campus, Max Healthcare Institute said.
Abhay Soi, Chairman and Managing Director, Max Healthcare Institute said, "This acquisition allows us to strengthen our footprint and enables us to extend high quality healthcare services to a fast growing region".
The transaction shall be consummated upon completion of conditions precedent as stipulated in the share purchase agreement.