MAX HEALTHCARE INS LTD

Max Healthcare Institute Limited was originally incorporated as 'Infinitum Technologies Private Limited' at New Delhi, India as a Private Limited Company dated June 18 ,2001. Pursuant to a Fresh Certificate of Incorporation dated June 28, 2002, the name of Infinitum Technologies Private Limited' was changed to Max Healthcare Institute Private Limited'. Thereafter, pursuant to a Special Resolution dated May 16, 2002 and a fresh Certificate of Incorporation dated October 18, 2002, the Company converted to a Public Limited, and name was changed to Max Healthcare Institute Limited'. The Company is primarily engaged in provision of healthcare services through primary care clinics, multi speciality hospitals / medical centres and superspecialty Hospitals facilities. The Company is a leading hospital chains in India with major concentration in North India consisting of a network of 22 network healthcare facilities, which includes BLK Hospital and BNH Hospital. Besides, it provides healthcare services across secondary and tertiary care specialties with key focus on centres of excellence i.e., oncology, neurosciences, cardiac sciences, orthopaedics,renal sciences, liver and biliary sciences and minimal access metabolic and bariatric surgery (MAMBS).In addition to core hospital business, the company has two SBUs, namely, MaxHome and MaxLab. MaxHome is a platform that provides health and wellness services at home. It has 12 service lines, including pathology, pharmacy delivery, physiotherapy and critical care nursing. MaxLab offers pathology services to patients outside of hospitals through a variety of channels including third party hospital laboratory management. Eight hospitals and five medical centres are located in Delhi and the NCR, and the others are located in cities of Mumbai, Mohali, Bathinda and Dehradun. They provide diagnostic, pathology, radiology, radiation oncology and clinical services in select specialties/ departments through deployment of doctors and other medical staff in 4 Partner Healthcare Facilities.In addition, it has established a representative office in Nairobi, Kenya under the name True Max Healthcare' which helps in partnering with local hospitals, conducting OPDs, assisting the potential patients with medical visas and pre - travel preparation and participating in local events to build its brand internationally. In the year 2000, the Company opened first Medcentre with out-patient facilities and day care surgeries at Max Medcentre, Panchsheel Park. In the year 2002, there were facilities opened in Pitampura and Noida subject to hospital in Pitampura became the first ISO certified hospital for high-end secondary care. In 2004, the Company opened its first super tertiary care facility with advanced cardiac life support ambulances and air evacuation service at Max Heart & Vascular Institute, Saket. In 2005, multi-speciality tertiary care centre in East Delhi with 147 beds, three operation theatres and 1 cardiac catheterization laboratory at Max Hospital, Patparganj were opened by the Company. In 2006, there was opening of first super speciality tertiary care location at Max Super Speciality Hospital Saket. The Company received NABH and NABL certification for laboratories and simultaneously opened a high-end secondary care hospital at Gurgaon in the year of 2007. The BLK Hospital was redeveloped and re-launched as a multi super speciality facility by the Company in 2009. On 05 August 2009, through a concession agreement, the Company entered into a public private partnership (PPP) with the Department of Health and Family Welfare (DHFW), Government of Punjab and HBPL (Hometrail Buildtech Private Limited), the Company's subsidiary merged with HEPL (Hometrail Estate Private Limited), for development of greenfield super speciality hospital in Bathinda, Punjab, which was engaged in the development of greenfield super speciality hospital in Mohali, Punjab. In 2010, the BLK Hospital received NABH accreditation and therby the Company opened a 300 bedded hospital in Shalimar Bagh. In 2011, the Company thru HBPL, extended its footprint in North India through a public private partnership with State Government of Punjab with setting up of hospitals in Mohali and Bathinda. In 2012, the first super speciality hospital in Uttarakhand, Max Super Speciality Hospital, Dehradun was opened and the Company's BLK Hospital installed Asia Pacific regions' first cyber-knife VSI - an ultra modern latest generation PET-CT to aid accurate diagnosis. In 2013, the BLK Hospital commenced liver and kidney transplant services. Max Healthcare successfully performed 100 bone marrow transplant surgeries within a span of 24 months and landmark surgery on separating two conjoint Nigerian twins respectively. On 28 May 2015, the Company acquired controlling stake in Crosslay Remedies Limited (CRL), a subsidiary that owns and operates a 378 bedded hospital with 328 operational beds, located in East Delhi-Ghaziabad-Noida corridor. The Company further had acquired 51% stake in Saket City Hospitals Private Limited, a subsidiary of the Company (SCHPL), pursuant to which it became a subsidiary in 2015. In 2016, the company launched its vertical, Max@Home, Max Lab and India's first oncology day-care center at Lajpat Nagar to provide chemotherapy to oncology patients outside the hospital, first standalone immigration center at Lajpat Nagar, New Delhi, the Responder-on-Bike initiative, Max Centre for Liver and Biliary Sciences and oncology dedicated wing in Max Hospital Shalimar Bagh. In 2017, Max Super Speciality Hospital, Shalimar Bagh introduced advanced silent MRI and intraoperative and portable CT scanner with navigation, it became the first hospital in the network to get accredited by the Joint Commission International (JCI). The Company incorporated MHC Global Healthcare (Nigeria) Limited (MGHL) in Lagos, Nigeria as a wholly owned subsidiary on May 20, 2019. The Hon'ble National Company Law Tribunal, Mumbai Bench (NCLT) vide its order dated January 17, 2020 sanctioned the Composite Scheme of Amalgamation and Arrangement amongst erstwhile Max India Limited, the Company, Radiant, Max India Ltd. (formerly known as Advaita Allied Health Services Limited) and their respective shareholders and creditors and the Scheme was effective from June 1, 2020. Subsequent to the effective date, healthcare business of Radiant was demerged into the Company and also, residual erstwhile Max India Ltd. (i.e. post demerger of allied health and associated services into Advaita Allied Health Services Limited) which comprises of healthcare activities amalgamated with the Company. Post demerger and amalgamation, the Company became the second largest healthcare delivery chain in India (considering only income from healthcare services aggregated for Company, Radiant and Partner Healthcare Facilities). Further, pursuant to the Scheme, equity shares of the Company were listed on the BSE Limited and National Stock Exchange of India Limited (NSE) on August 21, 2020. As on March 31, 2021, the Company has 6 subsidiaries. The current Promoters of the Company are Mr. Analjit Singh, Ms. Neelu Analjit Singh, Ms. Piya Singh, Mr. Veer Singh, Ms. Tara Singh Vachani, MVIHPL, Mr. Abhay Soi and Kayak Investments Holding Pte. Ltd. Pursuant to Scheme, Analjit Singh Group is to be reclassified as public shareholders in accordance with the provisions of the Listing Regulations (such reclassification, the Depromoterisation). Such Depromoterisation will be undertaken only upon the Company achieving the MPS requirement as prescribed under the SCRR. Post such Depromoterisation, Mr. Abhay Soi and Kayak shall be the Promoters of the Company. During the year 2022, the Company acquired 26% stake in Eqova Healthcare Private Limited to expand its network footprint in East Delhi with addition of 400 beds on February 10, 2022. It also entered into a long term exclusive Operation and Management Agreement with Muthoot Hospitals Private Limited for an upcoming hospital at Dwarka, New Delhi on January 20, 2022. On October 4, 2021, the Company purchased two parcels of land admeasuring ~ 5.26 acres and ~ 6.11 acres, in Gurugram, Haryana on freehold basis for setting up two hospitals and expand the bed capacity of the Company in NCR region by ~1000 beds. Kayak Investments Holding Pte. Limited, one of the Promoters of the Company sold 27,26,754 equity shares and consequent to the open market sale, it complied with the MPS norms within the prescribed timelines i.e. with effect from August 20, 2021. As a result, at the end of FY 21-22, the public shareholding in the Company stood at 49.36%. Pursuant to Composite Scheme of Amalgamation and Arrangement amongst erstwhile Max India Limited, the Company, Radiant Life Care Private Limited, Max India Limited (formerly known as Advaita Allied Health Services Limited) and their respective shareholders and creditors effective from June 1, 2020, certain persons / entity belonging to Promoter / Promoter Group of the Company i.e. Max Ventures Investment Holdings Private Limited, Mr. Analjit Singh, Ms. Piya Singh, Ms. Neelu Analjit Singh, Ms. Tara Singh Vachani and Mr. Veer Singh have been re-classified as Public Category with the approval accorded by stock exchanges viz. BSE Limited and National Stock Exchange of India Limited (NSE) vide their letters dated March 24, 2022. Therefore, 4,06,229 equity shares of the Company held by the above Promoter/ Promoter Group in aggregate, representing 0.04% of its total issued and paid up capital at that time, have been re-classified into Public' from Promoters / Promoter Group' category with effect from March 24, 2022. Subsequent to re-classification of Promoter / Promoter Group, the Company has only 2 Promoters i.e. Mr. Abhay Soi and Kayak. The Company commissioned 92-bedded Oncology Block at Max Super Speciality Hospital, in Shalimar Bagh in March, 2023. In 2023, a cloud deployment was undertaken for two key locations, including Max Lajpat Nagar and Max Panchsheel. During FY23, Max@Home, with the vision of Digital First', launched Instant Doctor Consultation service. The year 2023-24, marked the entry of the Company into 2 new cities, Nagpur and Lucknow, adding ~750 beds to the existing bed capacity with further expansion potential. It acquired two leading healthcare institutions-200- bed at Alexis Hospital in Nagpur and 550 bed at Sahara Hospital in Lucknow, which subsequently got renamed as ' Max Super Speciality Hospitals'. Max Hospital, Dwarka, a 303 bed state of the art facility commenced its operations in mid-June, 2024; which marked a milestone to expand access to quality healthcare services. In 2024, Company commissioned and put to operation 122 additional beds at Max Super Speciality Hospital, Shalimar Bagh, Delhi. It acquired the Shaheed Path, Lucknow with a potential to add ~550 beds. It expanded robotic surgical programs at its various Network Hospitals and conducted ~ 3500+ robotic surgeries during FY 2023-24. The Max Super Speciality Hospital - Mohali, Punjab has added the bed capacity to 155 from the existing 220 beds. During FY 2024-25, the Company expanded robotic surgical programmes at its various Network Hospitals by conducing ~ 6,600 robotic surgeries. The Company, also acquired Jaypee Hospital, a 500-bed quaternarycare facility in Noida, marking a strategic expansion of its footprints in Delhi NCR in October, 2024. It commenced operations at Max Dwarka, a modern, 303-bed tertiary-care facility in FY25.