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Max Healthcare on Thursday announced that it has executed definitive agreements to acquire a controlling stake of 76 percent in NCR based Pushpanjali Crosslay Hospital (PCH) for sum of Rs 287 crore.
The transaction involved combination of fresh investments and acquisition of shares from existing promoters, Rahul Khosla, Chairman, Max Healthcare and Managing Director, Max India told a press conference here.
Situated just 4 kilometres from Max Super Speciality Hospital in Patparganj, the 340-bedded Pushpanjali Crosslay is at a prime location along the East Delhi-Ghaziabad-Noida corridor.
PCH has the capacity to expand upto 540 beds and has been operational since 2010,
Mohit Talwar, Deputy Managing Director, Max India Limited, said that the funding for this acquisition will come out of internal accruals and also some debt raising by Max Healthcare.
srivats.kr@thehindu.co.in
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