Max Healthcare Institute Limited — JV/Acquisition, 08-04-2026: Acquisition

Max Healthcare is expanding its Eastern India footprint by acquiring a ~58.39% controlling stake in Kalinga Hospital Ltd. (KHL) for ₹300 Cr. KHL runs a 250-bed multi-specialty hospital in Bhubaneswar, Odisha. This strategic move strengthens Max Healthcare's network, tapping into KHL's prime location and significant brownfield potential to expand to over 1,000 beds. The acquisition, funded by a ₹300 Cr External Commercial Borrowing, includes a ₹100 Cr loan for KHL's upgrades and a $5 Mn corporate guarantee. This aims to extend high-quality healthcare services to a fast-growing region and add to the group's revenue and profitability.