Max Healthcare Institute has signed a deal to acquire Eqova Healthcare, a company with a long-term exclusive rights to provide medical services to 400-bed hospital in Patparganj, Delhi, owned by Nirogi Charitable and Medical Research Trust, it said on Friday.

Under phase 1, 250 beds will be commissioned in FY26first half . The hospital will have oncology, organ transplant programmes and offer multidisciplinary care in cardiac, neuro, renal sciences. 

“150 beds will be operationalised in phase 2 after commissioning of phase 1. The hospital, once fully operational, shall directly employ 2,000 people and provide free treatment to 60,000 patients belonging to the economically weaker section annually in its in-patient and out-patient departments,” the release further added.

The initial acquisition is by way of upfront purchase of 26 per cent stake. An escrow mechanism is to be set up for additional 34 per cent under call/put options linked to achievement of certain milestones. In addition, the parties have agreed to call/put options for the balance stake to be exercised, the release added.