Radiant Life, KKR to take majority stake in Max Healthcare via merger

New Delhi, Dec 24: Max Hospitals Radiant Life Care Private Limited, a leading Indian hospital management company promoted by Abhay Soi and backed by global investment firm KKR, has entered into a transaction under which its shareholders will acquire a majority stake in Max Healthcare Institute Limited from Max India Limited.
According to a press release issued by Radiant Life Care on Monday, the acquisition will be undertaken through a series of transactions, including Radiant’s purchase of a 49.7 per cent stake in Max Healthcare from South Africa-based hospital operator Life Healthcare in an all cash deal, followed by demerger of Radiant’s healthcare assets into Max Healthcare.
This will result in KKR and Radiant promoter Abhay Soi together acquiring a majority stake in Max Healthcare.
The Radiant-Max Healthcare combine will create the largest hospital network in North India, and the top three hospital networks in India by revenue and fourth largest in terms of operating beds, the release says.
The merged entity will operate over 3,200 beds throughout 16 hospitals across India, including tertiary and quaternary care facilities offering high end critical and super speciality care supported by strong local brands such as BLK Hospital, Max Saket Hospital, Max Smart Hospital, Max Patparganj Hospital, and Nanavati Hospital.
The combined business is expected to provide significant growth potential and compelling business synergies. By providing best-in-class patient care, the combined business plans to address India’s growing demand for quality medical treatment.
Upon closing, Abhay Soi will lead the combined company as its Chairman, supported by a strong leadership team.