Lucknow, India – February 24, 2024: Max Healthcare Institute Limited, a leading healthcare provider in India, has announced its strategic move towards expanding its presence in Lucknow, Uttar Pradesh, by building a new hospital.
The Board of Directors of the company approved the acquisition of a prime land parcel through e-auction, marking a significant step towards the establishment of a new hospital in the region.
The land parcel, spanning approximately 21,946 square meters, to be secured on a freehold basis for an approximate amount of ₹167 Crore, inclusive of stamp duty.
The proposed hospital, set to accommodate over 500 beds with a built-up area of approximately 8 lakh square feet, underscores Max Healthcare’s aim to meet the growing healthcare demands in Lucknow and surrounding areas.
With an existing network, comprising of around 3,550 beds as of December 31, 2023, operating at a high capacity utilization of over 73%, the expansion aligns with the company’s vision of becoming a major player in the booming Indian health care Industry.
The proposed capacity addition will be implemented over the next decade in a phased manner, leveraging internal accruals for financing. This strategic investment reflects Max Healthcare’s confidence in the region’s potential for growth in the coming decades.