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Our Bureau

Opens sixth hospital in Delhi

New Delhi , June 2

Max Healthcare Ltd is looking to extend its presence beyond the National Capital Region (NCR). Mr Analjit Singh, Chairman of Max Healthcare Ltd, said that the company was looking to invest around Rs 250 crore in the next three years to expand its business.

While speaking on the sidelines of a function to launch its sixth hospital in the Capital, Mr Singh said: "We would invest around Rs 250 crore and are also looking at markets beyond NCR in the north and the west. When we complete the next phase of expansion by 2009, we would have a total bed capacity of 1,500." The current capacity is around 600 beds.

Open to acquisitions

Mr Singh added that the company was open to managing hospitals or acquiring them besides completing its hospital projects at three locations in the NCR, including one in Gurgaon.

"We may look at other options if they are favourable," he said.

The company's sixth hospital that opened on Thursday is a 200-bed super speciality hospital in South Delhi, offering 33 specialities and four super speciality facilities.

As it enters the second expansion phase — `Horizon II', the company said that it would be striving to refine its existing facilities, which were set up during its `Horizon I' programme.

The company has so far invested Rs 625 crore in setting up the six hospitals, of which Rs 350 crore was funded through equity and Rs 250 crore by debt.

Furthermore, Mr Singh said the company would be launching its health prepaid out-patients plan, Max HIP, in another six months' time. It will also provide the option of buying a life insurance product. Max HIP will offer cover for a variety of processes such as consultations with accredited neighbourhood physicians, visits of family members and diagnostic or consultations in one of the company's hospitals.

Analjit talking to nephews on father's will

On the issue of Late Bhai Mohan Singh's will, Mr Analjit Singh said he was talking to his nephews Mr Malvinder Singh and Mr Shivender Singh — current promoters of Ranbaxy and Fortis respectively — to settle legal issues. "I am in talks with my nephews to settle the legal inheritance issues involved in my father's will," he said.

Mr Analjit Singh, however, said he had "nothing to say" to his brother, Mr Manjit Singh, who has disputed the will.

More Stories on : Outlook | Medical Institutions & Hospitals | Mergers & Acquisitions

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