Max Healthcare to add 300+ beds in NCR, to operate and manage Muthoot Hospitals in Dwarka

Max Healthcare Institute Ltd (MHIL), one of India's largest private healthcare services company today announced that it has entered into a long term services agreement with Muthoot Hospitals Private Limited (MHPL) for operations and management (O&M) of ~ 300+ beds hospital being constructed and developed at Sector 10 Dwarka, New Delhi. This is the First Phase Hospital on ~ 8.62 acres of land and has a potential to add another 1000+ beds in due course of time. The current arrangement is, however restricted to First Phase Hospital only. The Hospital shall be operated under the name and style of Max Super Speciality Hospital, Dwarka.

The construction of 10-storey hospital building is in full swing, with structural work near completion and MEP and civil finish tendering is in progress. The Hospital, with roads on all four sides, is located on a 45m wide sector road and has been designed by HKS India. First Phase Hospital, beside others shall have ~ 100 ICU beds, 10 OTs, 2 Cath Labs and Linac bunkers etc. The Hospital is expected to commence its operations in the second half of 2023.

Commenting on the developments, Dr Abhay Soi, Chairman and Managing Director, Max Healthcare said, "We are proud to be associated with MHPL and excited at the prospect of extending our services and provide care to communities living in South-West Delhi. The arrangement underscores the focus and success of our strategic asset light model of growth and to start with, it will add 8% to our overall capacity in near future. The new hospital will allow us to further strengthen our presence in Delhi NCR. The hospital will be committed to the highest standards of clinical excellence, research, academics and patient care, serving both domestic and international patients."

Dwarka is a smart city with rapidly growing urban population of more than 12 Lakhs and has integrated townships, group housing projects and diplomatic enclave for 39 countries. It is well connected to international airport, Delhi Metro and new Dwarka Expressway Project once completed, will provide connectivity with Manesar and New Gurgaon as well.

Shares of Max Healthcare Institute Limited was last trading in BSE at Rs. 384.35 as compared to the previous close of Rs. 391.10. The total number of shares traded during the day was 98515 in over 4444 trades.

The stock hit an intraday high of Rs. 399.00 and intraday low of 377.05. The net turnover during the day was Rs. 37630959.00.

Source : Equity Bulls

Keywords

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