MHIL is exploring possibilities to fund the acquisition from overseas market but External Commercial Borrowings cannot be used for such acquisition. IFC, with its ability to subscribe to an NCD under its FPI (Foreign Portfolio Investor) license is uniquely positioned to provide the necessary funding with the requisite tenor and amount for the acquisition which is a critical milestone for the planned expansion programme, said IFC.
SCH provides medical services to Max Smart Super Specialty Hospital (Max Smart) which is an unit of and owned by Gujarmal Modi Hospital & Research Centre for Medical Sciences.
Max Smart is located adjacent to the existing Max Super Specialty Hospital (West Block), a unit of MHIL and Max Super Specialty Hospital (East Block), a Unit of Devki Devi Foundation and, MHIL plans to create a medi-city across the joint complex of the network hospitals located and to be set up at this prime location of Saket in South Delhi.
MHIL will develop the complex to create a specialised centre for premier quaternary care with 7 centres of excellence for selected specialties to provide comprehensive clinical services.
MHIL is a JV between Max India Limited (MIL) and Life Healthcare (LH), each party holding 45.95 per cent in the company. MIL is the listed entity for healthcare assets of the Max group and includes MHIL, Max Bupa (Health Insurance) and Antara (senior living). IFC holds a 3.1 per cent stake in MIL and 7.5 per cent stake in MHIL.