Max Healthcare acquires Jaypee Healthcare For 1,660 crore

Max Healthcare has announced a strategic partnership with Lakshdeep Group to obtain a majority share in Jaypee Healthcare, which is currently in Corporate Insolvency Resolution Process (CIRP). The purchase is valued at Rs 1,660 crore in terms of the company's overall worth.

According to the deal, Max Healthcare will help repay the debts owed to financial creditors of JHL and also plans to purchase a 64% share in the company, along with options to buy or sell the rest of the stake.

Max Healthcare may secure a short term loan of up to 1,000 crore from banks and financial institutions in order to finance the acquisition and refinance the current debt at JHL as a temporary solution.

Max stated that the temporary financial support given to JHL by the company will be refunded when JHL receives its regular loan from banks or financial institutions after the acquisition.

“Addition of Jaypee Healthcare Ltd. to the network is an important milestone in our journey to build a formidable presence in NCR – a region which is not only home to 46 million people but also plays a pivotal role in shaping the Indian economy as an economic hub," said Abhay Soi, chairman and managing director, Max Healthcare.

"We remain focused on formulating a comprehensive strategy that addresses the demands of all stakeholders involved while prioritizing the delivery of quality healthcare services in a sustainable manner and potentially expand the flagship Noida facility to 1200 beds over next few years," Soi said.