Radiant Life Care Completes Acquisition of 49.7% Stake in Max Healthcare from Life Healthcare

NEW DELHI–(BUSINESS WIRE)–Radiant Life Care Personal Restricted (“Radiant”), a number one Indian hospital administration firm promoted by Abhay Soi and backed by KKR, has accomplished the beforehand introduced acquisition of a 49.7% stake in Max Healthcare Institute Restricted (“Max Healthcare” or “MHC”) from South Africa-based hospital operator Life Healthcare. Abhay Soi will now lead Max Healthcare as Chairman of its Board and Govt Council.

Radiant’s stake acquisition is one among a number of steps that may ultimately end in Mr. Soi and KKR collectively buying a controlling stake in Max Healthcare by combining the well being care belongings of Max Healthcare, Max India Restricted (“Max India”), and Radiant to create the biggest hospital community in North India.

As a part of the transaction, Max India’s promoters have acquired an advance of INR361 crore (US$52.2 million) from KKR in change for a 4.99% stake within the merged entity. Max India’s promoters have used the funds for deleveraging functions.

Analjit Singh, Founder & Chairman of Max Group, stated, “Max Healthcare and Radiant possess complementary units of capabilities in operating healthcare institutions and KKR brings with it in depth world expertise in healthcare investments and capabilities in prudent monetary administration. Radiant-KKR are the most effective suited companions to additional the tradition of scientific and repair excellence that Max Healthcare has develop into identified for. The merger and the longer term deliberate growth will present the size that MHC wants for worthwhile development at a time when healthcare margins are being examined. I additionally need to thank our outgoing JV associate Life Healthcare for being supportive members in MHC’s development and progress.”

Mohit Talwar, Vice Chairman of Max Group, stated, “The mix of Max Healthcare-Radiant will give shareholders the chance to profit from the efficiency of the third largest hospital chain in a quickly rising Indian healthcare market. It can additionally permit Max India to deal with enhancing shareholder worth creation by rising our different companies and seeding new ones.”

Abhay Soi, Chairman Radiant Life Care and Max Healthcare, stated, “I’m comfortable to have been in a position to full the acquisition of Life’s stake in Max Healthcare as a primary step in the direction of integration of the 2 firms, and lucky to have a PE agency resembling KKR backing us in our journey. We imagine we’ve got all of the wherewithal to develop our enterprise organically and inorganically throughout this difficult section for the healthcare sector. Our pursuits are additionally very aligned with our Prime Minister’s imaginative and prescient of strengthening model India globally by specializing in the 5 T’s of tourism, custom, expertise, commerce and expertise”.

Sanjay Nayar, Member & CEO of KKR India, added, “We’re enthusiastic about constructing Max Healthcare into an excellent firm ruled by world-class board members and standing for the very best requirements of scientific outcomes.”

Radiant funded this acquisition with an funding from KKR’s Asian Fund III.

The method of mixing Radiant Life Care and Max Healthcare and the eventual itemizing of Max Healthcare is underway, and is more likely to be accomplished in 6 to eight months, topic to receipt of the requisite approvals.

About Radiant Life Care

Radiant is promoted by Abhay Soi and is within the enterprise of creating/redeveloping hospitals to supply excessive finish quaternary care. Presently, Radiant has two iconic services in its portfolio specifically: BLK Tremendous Specialty Hospital, Delhi and Nanavati Tremendous Specialty Hospital, Mumbai.

Radiant forayed into healthcare in 2010 with the re-development and commissioning of BLK, a 650-bed hospital, one of many largest personal sector hospitals in Delhi and NCR. Moreover this flagship hospital, Radiant collaborated with the Nanavati Hospital Belief in 2014 to take over the operations of Nanavati, a 350-bed multi-specialty hospital. Over the following 4 years, Radiant plans to remodel Nanavati right into a 900-bed state-of-the-art quaternary care institute and broaden BLK by one other 200 beds. For added data, go to the corporate’s web site at www.radiantlifecare.com

About Max Healthcare

Max Healthcare (MHC) is the Nation’s main complete supplier of standardized, seamless and international-class healthcare providers. It’s dedicated to the very best requirements of medical and repair excellence, affected person care, scientific and medical training.

Max Healthcare has 14 services in North India, providing providers in over 30 medical disciplines. Of this, 11 services are positioned in Delhi & NCR and the others in Mohali, Bathinda and Dehradun. The Max community consists of state-of-the-art tertiary care hospitals in Saket, Patparganj, Vaishali, Shalimar Bagh, Mohali, Bathinda and Dehradun, secondary care hospitals at Gurgaon, Pitampura, Noida & Larger Noida and an out-patient facility and speciality centre at Panchsheel Park. The Tremendous Speciality Hospitals in Mohali and Bathinda are underneath PPP association with the Authorities of Punjab.

Max Healthcare has a base of over 3,000 medical doctors, 10,000 staff and over 2.2 million sufferers from over 80 international locations, throughout its community of 14 hospitals. For added data, go to the corporate’s web site at www.maxhealthcare.in

About Max India

Max India, the holding firm of Max Bupa Well being Insurance coverage and Antara Senior Dwelling and equal three way partnership associate in Max Healthcare, is targeted on well being and allied companies. Max Bupa Well being Insurance coverage is a three way partnership with world chief, Bupa Finance Plc. (UK). These companies have well-entrenched positions of their respective classes and are acknowledged for his or her excellent service requirements. The Firm owns and actively manages a 49.70% per cent stake in Max Healthcare, a 51% stake in Max Bupa Well being Insurance coverage and a 100% stake in Antara Senior Dwelling. Max India is listed on each the Bombay Inventory Trade in addition to the Nationwide Inventory Trade. For added data, go to the corporate’s web site at www.maxindia.com

About KKR

KKR is a number one world funding agency that manages a number of various asset courses, together with personal fairness, vitality, infrastructure, actual property and credit score, with strategic companions that handle hedge funds. KKR goals to generate engaging funding returns for its fund buyers by following a affected person and disciplined funding method, using world-class individuals, and driving development and worth creation with KKR portfolio firms. KKR invests its personal capital alongside the capital it manages for fund buyers and supplies financing options and funding alternatives via its capital markets enterprise. References to KKR’s investments could embrace the actions of its sponsored funds. For added details about KKR & Co. Inc. (NYSE: KKR), please go to KKR’s web site at www.kkr.com and on Twitter @KKR_Co.