The merged entity will operate over 3,200 beds throughout 16 hospitals across India.
Mumbai-based hospital operator Radiant Life Care is set to own North India’s largest hospital network after acquiring 49.7% majority stake in Max Healthcare from South African private hospital group Life Healthcare, an announcement revealed.
The all-cash acquisition deal is reportedly backed by global investment firm KKR. The combined entity will be 51.9% owned by KKR, whilst Radiant Life’s chief Analjit Singh will have a 23% stake.
After the merger, Radiant Life and Max Healthcare will become amongst the top three hospital networks in India by revenue and the fourth largest in India in terms of operating beds.
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.
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