Max Healthcare made a debut on on the Bombay Stock Exchange (BSE) and the National Stock Exchange at Rs 107 with the ringing of the gong at the BSE in the presence of Abhay Soi, CMD, Max Healthcare.
The listing is the final outcome of the amalgamation of erstwhile Max India into Max Healthcare and demerger of healthcare businesses of Radiant Life into Max Healthcare following the amalgamation and arrangement as approved by the National Company Law Tribunal. The resulting merger came into effect from June 1, 2020. Earlier, Radiant Life had acquired 49.7 per cent stake in Max Healthcare in June 2019.
Max Healthcare recorded a robust financial performance in FY20, with net revenue of Rs 4,026 crore, with an average occupancy of 72.5 per cent over a bed capacity of 3391 beds. The company had an operating margin of 14.6 per cent with an average revenue per operating bed of Rs 51000. Max Healthcare posted a 65 per cent jump in its operating profit in FY20.
Max Healthcare reportedly plans to continue to focus on the metros and has significant potential for brownfield expansion of beds at a lower capex and rapidly ramp up capacities at the existing locations. The company will continue to invest in high-end tertiary care beds and infrastructure to capitalise on the demand for these services both from the domestic as well as international medical value travel segments. The company has aggressive plans to attract patients from across the globe and sees itself playing a significant role in the space.
Speaking about future plans Soi said, “The healthcare sector holds immense potential and opportunities and I look forward in creating the best-regarded chain of hospitals in India. Last year was a phenomenal year for us which not only saw us becoming the second largest healthcare chain in India but also the industry leader on most operating parameters. Max Healthcare will always be a patient centric organisation and will continue to put patients and their interests at the very core of what it does. I look forward to taking the company to newer heights with the excellent team of clinicians and management that we have. I would also take this opportunity to thank all stakeholders for their over whelming support.”