Bhubaneswar: Max Healthcare Institute Ltd, one of India’s largest private healthcare providers, has announced that it has signed a share purchase agreement to acquire a controlling stake in Kalinga Hospital Limited from Hospital Corporation of Orissa Inc.
Under the agreement, the company will acquire a 58.4% stake in Bhubaneswar-based Kalinga Hospital at an equity value of Rs 300 crore, including a control premium.
The transaction will be completed after the fulfilment of conditions outlined in the agreement, Max Healthcare said in a release.
Kalinga Hospital is a 250-bed NABH-accredited facility located at Maitri Vihar in Bhubaneswar. The hospital is spread over around 2.6 lakh sq ft on a nearly 10-acre land parcel in a prime area of the city. It offers multi-disciplinary care across key specialties such as neurology, cardiology, orthopaedics, gastroenterology, renal sciences, and oncology. The facility is supported by diagnostic infrastructure, including a 128-slice CT scanner, 1.5T MRI, and a cath lab.
The acquisition will strengthen Max Healthcare’s network and expand its presence in eastern India.
Chairman and Managing Director Abhay Soi said the company is entering the Bhubaneswar market through the acquisition of a well-located and established hospital with strong operational potential. He said such opportunities are rare and added that the move will help expand the company’s footprint and extend quality healthcare services in a fast-growing region.
Bhubaneswar has an established healthcare ecosystem with a mix of public and private hospitals and several medical colleges. The city also serves patients from across Odisha and neighbouring states such as West Bengal, Jharkhand, and Chhattisgarh.
