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New Delhi: Max Healthcare Institute will acquire 64 percent stake in Jaypee Healthcare at an enterprise value of Rs 1,660 crore. Max Healthcare told the stock market that it has entered into a strategic agreement with Lakshadeep Group, the promoters of Jaypee Healthcare Limited (JHL), which is undergoing bankruptcy process.
The company said that the collaboration and the proposed acquisition will give Max Healthcare a controlling stake in JHL. This includes Jaypee Healthcare's key assets, the 500-bed Jaypee Hospital in Noida and the 200-bed hospital in Bulandshahr. Both these hospitals are built on 18 acres and 5.75 acres respectively.
Jaypee Healthcare also has a 100-bed hospital built on 2.35 acres in Anupshahr, but it is yet to become operational. JHL earned a revenue of Rs 421 crore in the year 2023-24.
Status of Max Healthcare shares
Max Healthcare shares have been sluggish for some time. The company has given 22 per cent in 6 months and 56 per cent in one year. However, in the last 2 years, Max Healthcare shares have gained 115 per cent. The 52-week high of the stock is Rs 979.80, which it made on June 21, 2024. On the other hand, if we talk about the 52-week low, it is Rs 531.05. The market cap of the company is Rs 88,192.56 crore.
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