New Delhi: The Max Healthcare Institute announced on Monday that it plans to invest around 1,600 crore rupees to expand its capacity in the national capital region by adding around 1,000 beds in Gurugram, Haryana. The company “is further strengthening its presence and increasing its bed capacity in the NCR by adding two hospitals of approximately 500 beds each in Gurugram,” the Max Healthcare Institute said in a regulatory filing.
Max Healthcare’s board of directors approved the expansion plan at a meeting earlier today, he added.
“The overall investment is expected to be around Rs 1,600 crore. It is proposed that the expansion plan be financed by internal provisions, borrowing and / or other modes permitted by applicable laws,” said the Max Healthcare Institute.
For the two hospitals, two plots measuring approximately 6.11 acres and approximately 5.26 acres are allocated by HSVP (Haryana Shahri Vikas Pradhikaran) after a successful bid by the company in a recent HUDA auction, he said. he adds.
“The two newly acquired plots of land will be built on a phased basis, adding approximately 1,000 beds over the next 4-6 years and will further strengthen our presence in the NCR,” said Max Healthcare President and CEO Abhay Soi .
Max Healthcare currently operates a multi-specialty hospital in Gurugram, according to the file. Shares of Max Healthcare Institute closed at Rs 352.95 per certificate on BSE, down 1.63% from their previous close.
Max Healthcare is one of the largest private sector hospital chains in terms of revenue, with most of its 17 facilities concentrated in northern India.