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Max Healthcare Institute Ltd has signed a share purchase agreement to acquire a 58.4 per cent controlling stake in Kalinga Hospital Ltd for an equity value of INR 300 crore, including a control premium. The move marks the company's entry into Bhubaneswar and strengthens its presence in eastern India. Kalinga Hospital, a 250-bed NABH-accredited facility, operates on a 10-acre campus with significant expansion potential. The hospital offers multiple super speciality services and can scale up to over 1,000 beds in the future, supporting long-term growth plans.
Max Healthcare Institute Ltd has entered into a share purchase agreement to acquire a 58.4 per cent controlling stake in Kalinga Hospital Ltd (KHL) from Hospital Corporation of Orissa Inc. The deal is valued at an equity value of INR 300 crore, including a control premium. Advertisement
With this acquisition, the company is entering the Bhubaneswar market, marking its expansion into Odisha and strengthening its footprint in eastern India. This move aligns with Max Healthcare's strategy to grow in regions with rising demand for organised healthcare services.
Kalinga Hospital has been operational since 1997 and is a 250-bed facility accredited by the National Accreditation Board for Hospitals (NABH). The hospital provides super speciality services across neuro sciences, cardiology, orthopaedics, gastroenterology, medical oncology and renal sciences.
The hospital is located in Maitri Vihar, Bhubaneswar, on a 10-acre land parcel and has a built-up area of around 2,60,000 sq ft. The campus has the capacity for long-term expansion, with the potential to scale up to more than 1,000 beds, which provides scope for future capacity addition and service expansion.
Abhay Soi, Chairman and Managing Director of Max Healthcare Institute, stated that the acquisition would help strengthen the company's presence and allow it to extend quality healthcare services to a fast-growing region.
The transaction is subject to completion of customary conditions precedent as outlined in the share purchase agreement.
Max Healthcare has been expanding its network through acquisitions and brownfield developments in recent years. The entry into Bhubaneswar is expected to support its broader growth strategy of building a strong presence across key urban centres beyond its existing core markets.
Source PTI
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