Max Healthcare Institute Limited (MHIL) has entered into a strategic collaboration agreement with Lakshdeep Group, the ultimate promoter group of Jaypee Healthcare Limited (JHL), which is undergoing a Corporate Insolvency Resolution Process (CIRP).

This strategic collaboration and proposed acquisition will give MHIL a controlling stake in JHL, including its flagship asset, the renowned 500-beds Jaypee Hospital, Noida.

Under the agreement, MHIL shall organise 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 Rs 1,660 crore, reflecting JHL's strong market position, which includes two operational hospitals i.e. 500-beds Jaypee 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 Rs 421 crore and EBITDA of Rs 70 crore for the year 2023-24.

Jaypee Hospital Noida is recognised for its exceptional medical care and commitment to patient wellbeing, making it a trusted healthcare destination for residents of Noida and surrounding region. This acquisition will significantly enhance MHIL’s network and strengthen its leadership position in NCR.