Diversified business group Max India will add nearly 700 beds this year as it goes on an expansion drive for its healthcare arm by opening four new hospitals in 2011.
The company’s arm, Max Healthcare had earlier said that it would invest around Rs 600 crore to set up four hospitals that will take its bed capacity to around 1,800 beds.
“We have first of the four new hospitals at Shalimar Bagh (in Delhi), so we are basically adding 700 beds in the next few months,” Max India Chairman and Managing Director, Mr Analjit Singh, told PTI.
Besides the new hospital at Shalimar Bagh, the firm plans to open three hospitals in Dehradun, Mohali and Bhatinda as it expands beyond the National Capital Region (NCR).
“First we are going outside the NCR, we are taking three hospitals to Dehradun, Mohali and Bhatinda. All will be started in this calendar year,” Mr Singh said.
One of the prominent hospital chains in the country, Max Healthcare currently has a capacity of nearly 1,100 beds. It runs eight centres in Delhi and NCR and is also planning to enter into medical education in near future.
“We are making inroads into medical education as part of our presence in healthcare. We will be working in synergies between healthcare insurance and life insurance,” Mr Singh said.
Last week, giving shape to his succession plan, Mr Singh had decided to step down as the Managing Director of the company and has appointed a professional, Mr Rahul Khosla, for the position.
As per the company’s board approval on June 8, Singh would assume the role of Executive Chairman of the company effective August 18, 2011.
On consolidated basis, Max India had revenues of about Rs 7,900 crore in the last financial year. As much of 80 per cent of that came from the insurance business and about 10 per cent from the healthcare.
Max India Ltd is engaged in various business verticals including insurance, healthcare, contract research and specialty films.