Max Healthcare Inst.

May 21 (Reuters) - Max Healthcare Institute Ltd MAXE.NS:

• APPROVES CONSTRUCTION OF PHASE-I MAX SUPER SPECIALTY HOSPITAL IN LUCKNOW WITH 712 BEDS

• CONSTRUCTION EQUIPMENT COST FOR PHASE-I EXPECTED TO BE 14 BILLION RUPEES

Source text: ID:nNSE4b9gVc

Further company coverage: MAXE.NS

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May 18 (Reuters) - Max Healthcare Institute Ltd MAXE.NS:

• MAX HEALTHCARE INSTITUTE LTD - BUYS 58.28% EQUITY STAKE IN KALINGA HOSPITAL FOR 2.98 BILLION RUPEES

Source text: ID:nNSE425Fyx

Further company coverage: MAXE.NS

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The author is a Reuters Breakingviews columnist. The opinions expressed are her own.

By Ujjaini Dutta

BENGALURU, April 13 (Reuters Breakingviews) - Feverish demand for private medical care in India will aid Temasek as it lines up a $1.2 billion initial public offering of Manipal Hospitals, the country's largest chain with 12,000 beds. Yet at a mooted $13 billion valuation, the Singapore sovereign investor may be stretching too far to crystallise a strong exit on one of its rare controlling stakes.

Its 51% holding in Manipal is part of Temasek’s S$434 billion ($324 billion) global portfolio which boasts a growing footprint in India. The South Asian country accounts for about 8% of underlying assets, up from 5% a decade ago. Its exposure could rise higher in the coming years under Piyush Gupta; in November, Temasek appointed the former DBS Group DBSM.SI chief executive as its India chair. Manipal’s listing hands the bank its first IPO mandate in India.

The Singaporean investment firm valued the company at just under $5 billion in 2023 when it picked up a 41% stake for $2 billion. At the time, Manipal founder and Chair Ranjan Pai said the business needed "long-term patient capital". It has acquired five hospital brands since Temasek first invested in it in 2017. Meanwhile, revenue is set to grow 27% in the financial year to the end of March 2026, based on annualising results in the six months to the end of September in its IPO prospectus, with a 6% net profit margin.

At a time when global investors are cooling on Indian equities, it helps that Manipal's footprint is concentrated in the southern states where incomes are higher and patients older. Even so, the targeted headline valuation for the hospital chain would value it at 107 times its annualised first-half earnings, Breakingviews calculates, nearly double the multiple of its top three rivals Apollo Hospitals APLH.NS, Fortis Healthcare FOHE.NS and Max Healthcare MAXE.NS. Manipal is more efficient than its rivals yet its average revenue per bed is only about 5% higher than Apollo Hospitals' and 4% higher than Fortis Healthcare.

True, hospital valuations have swung wildly in India, with Apollo's nearly halving from two years ago but Temasek doesn't need such a grand debut for its bet on Manipal to stack up, and forcing one could cast a shadow over its ambitions to increase its exposure to the country.

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CONTEXT NEWS

India's Manipal Health ‌Enterprises filed for an up to $1.17 billion initial public offering on March 23. The initial public offering comprises a fresh issue to raise $852.2 million and an offer for sale by existing investors including Singapore's Temasek, U.S. investment firm TPG, Manipal Education and Novo Holdings, according ⁠to its draft prospectus.

The company is targeting a valuation of up to $13 billion, Bloomberg reported on March 24, citing people familiar with the matter.

(Editing by Una Galani; Production by Aditya Srivastav)

((For previous columns by the author, Reuters customers can click on DUTTA/[email protected]))

April 8 (Reuters) - Max Healthcare Institute Ltd MAXE.NS:

• APPROVES ACQUISITION OF 58.39% CONTROLLING STAKE IN KALINGA HOSPITAL LTD

• APPROVES LOANS UP TO 1 BILLION RUPEES TO KALINGA HOSPITAL LTD

• TO BUY 58.4% STAKE IN KALINGA HOSPITAL AT EQUITY VALUE OF 3 BILLION RUPEES

• APPROVES SENIOR SECURED TERM LOAN UP TO 3 BILLION RUPEES FOR ACQUISITION FINANCING

Source text: ID:nBSE8scTm9

Further company coverage: MAXE.NS

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Feb 5 (Reuters) - Max Healthcare Institute Ltd MAXE.NS:

• Q3 CONSOL PROFIT 3.01 BILLION RUPEES

• Q3 CONSOL REV FROM OPS 20.68 BLN RUPEES

• AMENDMENT TO PACT TO ADD BEDS AT MAX SUPER SPECIALITY HOSPITAL, DWARKA

• PROPOSED ADDITION OF 260 BEDS AT MAX DWARKA

Further company coverage: MAXE.NS

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Aug 22 (Reuters) - Interglobe Aviation Ltd INGL.NS:

• NSE: MAX HEALTHCARE AND INTERGLOBE AVIATION TO BE INCLUDED IN NIFTY 50

• NSE: INDUSIND BANK AND HERO MOTOCORP TO BE EXCLUDED FROM NIFTY 50

• NSE: CHANGES IN NIFTY 50 SHALL BECOME EFFECTIVE FROM SEPTEMBER 30

Further company coverage: INGL.NS

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March 14 (Reuters) - Max Healthcare Institute Ltd MAXE.NS:

• UPDATES ON MATTER AGAINST COMPETITION COMMISSION OF INDIA

• WITHDRAWS WRIT PETITION CHALLENGING ORDER OF CCI

Source text: ID:nBSE9bhFwW

Further company coverage: MAXE.NS

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March 12 (Reuters) - Max Healthcare Institute Ltd MAXE.NS:

• TO ENTER INTO AGREEMENT WITH BHARAT PRAKRITIK CHIKITSA MISSION

• CONSTRUCTION OF HOSPITAL PREMISES EXPECTED TO BE COMPLETED IN NEXT 3-4 YRS

Source text: ID:nBSE7FVq1s

Further company coverage: MAXE.NS

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July 16 (Reuters) - Max Healthcare Institute Ltd MAXE.NS:

• MAX HEALTHCARE INSTITUTE - UNIT GOT TAX ORDER FOR PENALTY OF 61.6 MILLION RUPEES

Source text for Eikon: ID:nNSE5Z1LfJ

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May 22 (Reuters) - Max Healthcare Institute Ltd MAXE.NS:

• Q4 CONSOL PROFIT 2.52 BILLION RUPEES; LSEG IBES PROFIT EST. 3.62 BILLION RUPEES

• APPROVED AN OVERALL SPEND OF UPTO 10.38 BILLION RUPEES TOWARDS CONSTRUCTION OF GURUGRAM HOSPITAL

• Q4 CONSOL REVENUE FROM OPERATIONS 14.23 BILLION RUPEES; LSEG IBES EST. 18.04 BILLION RUPEES

• YEAR AGO Q4 CONSOL PROFIT 2.51 BILLION RUPEES; REVENUE 12.15 BILLION RUPEES

• APPROVED OVERALL SPEND OF UPTO 3.76 BILLION RUPEES TOWARD EXPANSION OF MOHALI HOSPITAL

• DIVIDEND OF 1.5 RUPEES PER SHR

Source text for Eikon: ID:nBSEc0tmzz

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MUMBAI/BENGALURU, May 6 (Reuters) - Global investment firm KKR KKR.N will buy Indian medical devices maker Healthium Medtech HEAT.NS from UK-based Apax Partners in a deal that three sources with direct knowledge of the matter say is valued at 70 billion rupees ($838.60 million).

Healthium and Apax did not immediately respond to Reuters' requests seeking comment, while KKR declined to comment.

KKR will acquire Healthium through a special purpose vehicle - owned by KKR-managed funds - that will have a controlling interest in Healthium group, including Healthium Medtech, the three companies said in a statement.

The acquisition marks KKR's latest investment in the Indian healthcare sector, with the firm already holding stakes in Indian drugmaker J B Chemicals and Pharmaceuticals JBCH.NS, hospital chain operator Max Healthcare MAXE.NS and generic injectables maker Gland Pharma GLAD.NS.

Private equity firm Apax bought Healthium, which is involved in the manufacturing of products used in surgical, post-surgical, and chronic care procedures, in 2018.

($1 = 83.4725 Indian rupees)

(Reporting by Kashish Tandon in Bengaluru, M. Sriram in Mumbai, Kane Wu in Hong Kong; Editing by Janane Venkatraman )

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March 12 (Reuters) - Max Healthcare Institute Ltd MAXE.NS:

• CO, TOUCH HEALTHCARE AND OTHERS HAVE ENTERED INTO AN AGREEMENT

• AGREEMENT IN RESPECT OF THE ONGOING ARBITRATION PROCEEDINGS BETWEEN THE PARTIES
  PURSUANT TO AGREEMENT SAID ARBITRATION PROCEEDINGS HAVE BEEN DISCONTINUED

Further company coverage: MAXE.NS

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Jan 31 (Reuters) - Max Healthcare Institute Ltd MAXE.NS:

• APPROVED TO ACQUIRE ADDITIONAL EQUITY STAKE OF 3.6% IN SANDHYA HYDRO POWER PROJECTS BALARGHA

• Q3 CONSOL PROFIT 2.89 BILLION RUPEES; LSEG IBES EST. 3.32 BILLION RUPEES

• Q3 CONSOL REVENUE FROM OPERATIONS 13.35 BILLION RUPEES

• YEAR AGO Q3 CONSOL PROFIT 2.22 BILLION RUPEES; REVENUE 11.42 BILLION RUPEES

• APPROVED TO ACQUIRE ADDITIONAL EQUITY STAKE OF 3.6% IN SANDHYA HYDRO POWER PROJECTS BALARGHA

• COST OF ACQUISITION AT 8.5 MILLION RUPEES

Source text for Eikon: ID:nBSE1y5fJK

Further company coverage: MAXE.NS

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Adds details of the deal, recent hospital mergers in India

BENGALURU, Dec 8 (Reuters) - India's Max Healthcare Institute MAXE.NS said on Friday it would buy Sahara Hospital in Lucknow, Uttar Pradesh for an enterprise value of 9.40 billion rupees ($112.76 million), as it looks to expand its operations in the country.

The 550-bed Sahara Hospital treats about 200,000 patients every year and has a revenue potential of 2 billion rupees for fiscal 2024, Max Healthcare said in a statement.

The company, which has 17 healthcare facilities mostly concentrated in North India, said Sahara Hospital has the potential to quickly ramp up beds and expand medical programs such as oncology and transplants.

Deals in Indian hospitals space have heated up, with mergers and acquisitions totalling $4 billion in 2022 and $2.2 billion in the first five months of this year.

Global consultancy firm PwC projects 12%-14% annual growth for the country's private healthcare market, which has seen a post-pandemic boom.

Indian hospital chain operator Manipal Hospitals in September acquired an 84% stake in AMRI Hospitals in its bid to expand its presence in eastern India, while private equity firm Blackstone BX.N in October said it would buy a majority stake in India's Care Hospitals.

($1 = 83.3650 Indian rupees)

(Reporting by Ashish Chandra in Bengaluru; Editing by Nivedita Bhattacharjee and Shilpi Majumdar)

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Nov 6 (Reuters) - Max Healthcare Institute Ltd MAXE.NS:

• SEPT-QUARTER CONSOL PROFIT 2.77 BILLION RUPEES; LSEG IBES EST. 3.24 BILLION RUPEES

• SEPT-QUARTER CONSOL REVENUE FROM OPERATIONS 13.63 BILLION RUPEES

• YEAR AGO SEPT-QUARTER CONSOL PROFIT 4.57 BILLION RUPEES; REVENUE 11.39 BILLION RUPEES

Source text for Eikon: ID:nBSE2KwTy0

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Aug 7 (Reuters) - Max Healthcare Institute Ltd MAXE.NS:

• INDIA'S MAX HEALTHCARE INSTITUTE JUNE-QUARTER CONSOL PROFIT 2.4 BILLION RUPEES VERSUS 1.73 BILLION RUPEES

• MAX HEALTHCARE INSTITUTE JUNE-QUARTER CONSOL REVENUE FROM OPERATIONS 12.85 BILLION RUPEES VERSUS 10.67 BILLION RUPEES

Source text for Eikon: [ID:]

Further company coverage: MAXE.NS

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Adds context on industry, source feed on potential deal

By M. Sriram

MUMBAI, May 26 (Reuters) - Investors in Aster DM Healthcare ATRD.NS are in talks to sell a 30% stake in the company's India business for about $300 million, two sources with direct knowledge said, the latest potential deal in India's booming healthcare sector.

UAE-based and Mumbai-listed Aster runs 32 hospitals, 127 clinics and 521 pharmacies in India and the United Arab Emirates. The current talks are related to the India business and come just as Aster tries to demerge its Gulf business and sell a majority stake in that, Reuters reported last month.

Aster and its advisors have reached out to private equity giant KKR & Co Inc KKR.N and Max Healthcare Institute MAXE.NS - one of India's largest hospital chains - to hold preliminary talks to take up the investors' stake, the sources said.

Aster's investors considering the sale are Olympus Capital, which has a 19% stake in the company, and Mauritius-based investment firm Rimco, which holds an 12% stake.

Aster has appointed New York-based investment bank Moelis & Company to manage the deal, said the two sources, who declined to be named as the discussions are private.

Spokespersons for KKR and Olympus declined to comment, while Aster, Rimco, Moelis and Max did not respond to Reuters queries.

In India, private hospitals are much sought after and with federal spending on healthcare low, investors remain bullish on the sector's growth in a country of 1.4 billion people.

In April, Singapore-based Temasek spent $2 billion on a controlling stake in Manipal Health Enterprises. And last year, KKR clocked its biggest exit from India by selling its stake 27% stake in Max Healthcare for more than $1 billion.

Indian hospital chains have raised $2 billion from private equity funds this year, compared to last year's record funding of $3.2 billion, data from Dealogic showed.

"Compared to population healthcare is still underpenetrated in India. So as the country develops, investors see that as a big opportunity," one of the sources said.

Separately, as discussions progress for the 30% stake sale in the India business, Aster will gauge if other hospital chains are interested in taking a bigger stake in the healthcare operator, though the strategy has not been finalised, the first source said.

Aster is mainly present in the southern Indian states of Kerala and Andhra Pradesh. It competes with other large hospital chains including Fortis Healthcare FOHE.NS, Manipal Hospitals and Max, all of whom have raised funds from global investors in recent years.

"Aster is now the last remaining large hospital chain where private equity or strategic investors can come in. There aren't many other established chains," the first source said.

For the fiscal year ended March 31, Aster's revenue grew 16% to $1.46 billion, while its net profit stood at $51.36 million.

(Reporting by M. Sriram; editing by Conor Humphries and Jason Neely)

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May 16 (Reuters) - Max Healthcare Institute Ltd MAXE.NS:

• MARCH-QUARTER CONSOL PROFIT 2.51 BILLION RUPEES VERSUS PROFIT 1.24 BILLION RUPEES

• MARCH-QUARTER CONSOL REVENUE FROM OPERATIONS 12.15 BILLION RUPEES VERSUS 9.37 BILLION RUPEES

• DIVIDEND ONE RUPEE PER SHARE

Source text for Eikon: ID:nBSE6BLyWg

Further company coverage: MAXE.NS

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- Source link: (https://bityl.co/IT4y)

- Note: Reuters has not verified this story and does not vouch for its accuracy

(Bengaluru newsroom)

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April 27 (Reuters) - Max Healthcare Institute Ltd MAXE.NS:

• FILED PETITION IN COURT AGAINST TOUCH HEALTHCARE, QUALITY CARE INDIA, EVERCARE GROUP MANAGEMENT

• PETITION SEEKS INTERIM MEASURES OF PROTECTION, PRESERVATION OF CONTRACTUAL RIGHTS AVAILABLE TO CO PRIOR TO ARBITRATION COMMENCEMENT

Source text for Eikon: ID:nNSE3x3f6R

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April 13 (Reuters) - Max Healthcare Institute Ltd MAXE.NS:

• MAX HEALTHCARE INSTITUTE LTD - COMPLETED ACQUISITION OF ADDITIONAL 34% STAKE IN EQOVA HEALTHCARE

Source text for Eikon: ID:nBSE3q6HCs

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