South Africa’s Life Healthcare Group has acquired 26 percent stake in Max Healthcare for Rs. 516.5 crore ($ 103 million).
AZB & Partners advised its long standing client Max with a team led by Partner Anil Kasturi along with Senior Associate Niladri Maulik.
Luthra & Luthra advised Life Healthcare with a team led by Partner Alina Arora along with Senior Associate Divya Vig and Associate Yohan John Balan.
According to ET, Max Healthcare Institute plans to invest Rs. 516.5 crore for expansion and reducing debt that is estimated to be about Rs. 900 crore. The firm plans to open four new super speciality hospitals in North India by the end of this year.
Life Healthcare Group is a leading healthcare service provider in South Africa with a market capitalisation of over $ 2 billion. Its network includes 63 hospitals with over 8,000 beds and a 27 percent market share in healthcare industry in South Africa.
One of the prominent hospital chains in the country, Max Healthcare Institute, which presently runs six hospitals and two centres, currently has a capacity of over 930 beds.