Max Healthcare
{{Short description|Indian multi-specialty hospital chain}}
{{Use dmy dates|date=August 2018}}
{{Use Indian English|date=August 2015}}
{{Infobox company
| name = Max Healthcare Institute Limited
| former_name =
| logo = Max Healthcare.svg
| image = Max Building.jpg
| image_size =
| image_caption = Max Super Specialty Hospital in Delhi
| type = Public
| traded_as = {{Unbulleted list|{{BSE|543220}}|{{NSE|MAXHEALTH}}}}
| industry = Healthcare
| founded = {{start date and age|2001}}
|| key_people = Abhay Soi (Chairman & MD){{cite news |last1=Leo |first1=Leroy |title=Max Healthcare completes merger of Radiant Life's hospital assets with self |url=https://www.livemint.com/companies/news/max-healthcare-completes-merger-of-radiant-life-s-hospital-assets-with-self-11591010423967.html |access-date=8 December 2020 |work=mint |date=1 June 2020 |language=en}}
| hq_location = New Delhi, India
| num_locations =
| area_served = India
| revenue = {{increase}} {{INRConvert|9065|c}} (2025)
| operating_income = {{increase}} {{INRConvert|2319|c}} (2025)
| net_income = {{increase}} {{INRConvert|1336|c}} (2025)
| num_employees = 15,000 (2023){{cite web |title=Annual Report 2022-23 |url=https://max-website20-images.s3.ap-south-1.amazonaws.com/Max_Healthcare_AR_2022_23_144dd5f97b.pdf |publisher=Max Healthcare Institute Limited |access-date=29 March 2024}}
| homepage = {{URL|https://www.maxhealthcare.in/}}
| footnotes = Financials {{as of|2025|03|31|lc=y|df=yes}}.{{cite web |title=Earnings update – Q4 & FY25 |url=https://max-website20-images.s3.ap-south-1.amazonaws.com/Presentation_on_Earnings_Update_Q4_FY_25_1f7cd22bce.pdf |publisher=Max Healthcare Limited |access-date=28 May 2025}}
}}
Max Healthcare Institute Limited is an Indian for-profit private hospital chain headquartered in Delhi.{{Cite web|title=MAX HOSPITALS|url=https://www.ibef.org/industry/healthcare-india/showcase/max-hospitals|access-date=2020-08-21|website=www.ibef.org}}{{cite news |last1=Das |first1=Sohini |title=Max Healthcare says will become second largest healthcare chain by revenue |url=https://www.business-standard.com/article/companies/max-healthcare-says-will-become-second-largest-healthcare-chain-by-revenue-120060101413_1.html |access-date=8 December 2020 |work=Business Standard India |date=1 June 2020}} As of 2024, Max Healthcare operates 19 hospitals with more than 4,000 beds, primarily in North India.{{cite web |title=Presentation On Earnings Update |url=https://www.bseindia.com/xml-data/corpfiling/AttachHis/8fbbe8fa-6cf2-465c-8a76-623aec69d9d3.pdf |publisher=Max Healthcare Institute Limited |access-date=29 May 2024}}{{Cite web |title=Max Healthcare Institute Directors Report {{!}} Max Healthcare Institute Director Details |url=https://economictimes.indiatimes.com/max-healthcare-institute-ltd/directorsreport/companyid-14582.cms |access-date=2023-07-10 |website=The Economic Times |language=en}}
Max Healthcare also operates the Max Lab pathology and Max@Home home medical services divisions.{{Cite news |last=Anand |first=Kshitij |date=2022-11-17 |title=Fundamental Radar: Why Max Healthcare could touch fresh record highs and scale Rs 500 levels in next 1 year |work=The Economic Times |url=https://economictimes.indiatimes.com/markets/stocks/news/fundamental-radar-why-max-healthcare-could-touch-fresh-record-highs-and-scale-rs-500-levels-in-next-1-year/articleshow/95555814.cms |access-date=2023-07-09 |issn=0013-0389}}
History
Max Healthcare opened its first medical center in South Delhi's Panchsheel Park in 2000. The company opened two other secondary care centers in Pitampura in North West Delhi and Noida in 2002.{{cite news|url=http://economictimes.indiatimes.com/max-india-ltd/infocompanyhistory/companyid-13435.cms |title=Max Healthcare Centre|publisher=indiatimes.com|accessdate=2011-11-09}} In 2004, the company commissioned the East Block of its flagship tertiary care hospital called Max Hospital, Saket in South Delhi.
In 2007, Max Healthcare ventured into Gurgaon with a secondary care hospital.{{cite web |title=Warburg Pincus enhances stake in Max Healthcare {{!}} Max India |url=https://www.maxindia.com/press-release/warburg-pincus-enhances-stake-in-max-healthcare/ |access-date=8 December 2020}}
In 2011, Max Healthcare entered into a public–private partnership (PPP) agreement with the Government of Punjab to set up two hospitals in Mohali and Bathinda. In the same year, Max Healthcare commissioned its tertiary care hospital in Shalimar Bagh, North West Delhi.{{cite news |last1=Roy |first1=Vijay C. |title=Max sole bidder for Punjab super-speciality hospitals |url=https://www.business-standard.com/article/companies/max-sole-bidder-for-punjab-super-speciality-hospitals-109021200002_1.html |access-date=8 December 2020 |work=Business Standard India |date=12 February 2009}}
In 2012, Life Healthcare Group acquired a 26% stake in Max Healthcare for {{INRConvert|516|c|mode=historical|year=2012}}. In 2014, Life Healthcare invested another {{INRConvert|766|c|mode=historical|year=2014}} to increase its stake to 46.41% and to become an equal joint venture partner with Max India.{{cite news |title=Life Healthcare completes Rs 766 crore investment in Max Healthcare |url=https://economictimes.indiatimes.com/industry/healthcare/biotech/healthcare/life-healthcare-completes-rs-766-crore-investment-in-max-healthcare/articleshow/45101245.cms |access-date=11 January 2023 |work=The Economic Times}}
File:Nanavati Super Speciality Hospital, Mumbai, Maharashtra, India.jpg in Mumbai]]
File:BLK Super Specialty Hospital.jpg
File:Sahara Hospital, Lucknow.jpg (formerly Sahara Hospital) in Lucknow]]
In 2015, Max Healthcare acquired the Pushpanjali Crosslay Hospital in Vaishali, Ghaziabad,{{cite news |last1=Reporter |first1=B. S. |title=Max acquires Pushpanjali Hospital for Rs 290 cr |url=https://www.business-standard.com/article/companies/max-acquires-pushpanjali-hospital-for-rs-290-cr-115052801808_1.html |access-date=8 December 2020 |work=Business Standard India |date=29 May 2015}} and the Saket City Hospital in Saket. These hospitals were subsequently renamed as Max Hospital Vaishali, and Max Smart Hospital, Saket.{{cite news |last1=Punj |first1=Shreya |title=Max Healthcare acquires NCR's Pushpanjali Crosslay Hospital |url=https://www.livemint.com/Companies/d7JFdLzNH671K72f8SkjxK/Max-Healthcare-acquires-NCRs-Pushpanjali-Crosslay-Hospital.html |access-date=8 December 2020 |work=mint |date=29 May 2015 |language=en}}{{cite news |title=Max Healthcare acquires 76% stake in Pushpanjali Crosslay for Rs 287 crore |url=https://economictimes.indiatimes.com/industry/healthcare/biotech/healthcare/max-healthcare-acquires-76-stake-in-pushpanjali-crosslay-for-rs-287-crore/articleshow/47456413.cms |access-date=8 December 2020 |work=The Economic Times}} A standalone oncology center called Max Cancer Centre was commissioned in Lajpat Nagar, South Delhi, in 2016.{{cite news |title=Delhi gets first standalone cancer daycare centre |url=https://www.hindustantimes.com/delhi/delhi-gets-first-standalone-cancer-daycare-centre/story-NKjctAPShKPKnTbId0GIVL.html |access-date=8 December 2020 |work=Hindustan Times |date=7 June 2016 |language=en}}
In 2018, Life Healthcare announced that it would sell its entire 49.7% stake in Max Healthcare and exit its joint venture with Max India.{{Cite web|title=Life Healthcare To Sell Its Stake In Max Healthcare|url=https://www.bloombergquint.com/business/life-healthcare-to-sells-its-stake-in-max-healthcare|access-date=2020-08-21|website=BloombergQuint|date=20 September 2018 |language=en}} In 2019, Radiant Lifecare acquired 49.7% stake in Max Health Institute Limited for {{INRConvert|2136|c|mode=historical|year=2019}}{{cite news |title=Radiant Life Care completes acquisition of 49.7% stake in Max Healthcare |url=https://www.businesstoday.in/current/corporate/radiant-life-care-completes-acquisition-of-497pc-stake-in-max-healthcare/story/358289.html |access-date=8 December 2020 |work=www.businesstoday.in}}{{cite news |title=Max Healthcare announces change in leadership, reconstitutes board |url=https://www.thehindubusinessline.com/companies/max-healthcare-announces-change-in-leadership-reconstitutes-board/article29070608.ece |work=@businessline |language=en}} and Abhay Soi was made chairman.{{Cite web|date=2019-08-13|title=Max Healthcare Institute reconstitutes its board, ropes in ex-SEBI chief UK Sinha as independent director |url=https://www.firstpost.com/business/max-healthcare-institute-reconstitutes-its-board-ropes-in-ex-sebi-chief-uk-sinha-as-independent-director-7158561.html|access-date=2020-08-21|website=Firstpost}} In 2020, Max Healthcare merged with Radiant Lifecare, which operated BLK Hospital in Central Delhi and the Nanavati Hospital in Mumbai, to become the second-largest healthcare company in India by revenue.{{cite news |title=Max completes healthcare merger with Radiant Life |url=https://economictimes.indiatimes.com/industry/healthcare/biotech/healthcare/max-completes-healthcare-merger-with-radiant-life/articleshow/76151453.cms |access-date=19 February 2021 |work=The Economic Times |date=2 June 2020 |language=en}}{{cite news |last1=Leo |first1=Leroy |title=Max Healthcare completes merger of Radiant Life's hospital assets with self |url=https://www.livemint.com/companies/news/max-healthcare-completes-merger-of-radiant-life-s-hospital-assets-with-self-11591010423967.html |access-date=8 December 2020 |work=mint |date=1 June 2020 |language=en}}
The company listed on the stock exchanges in August 2020.{{Cite web|title=Turnaround Specialist Abhay Soi And KKR-promoted Max Healthcare Poised For D-Street Debut|url=https://www.moneycontrol.com/news/business/turnaround-specialist-abhay-soi-and-kkr-led-max-healthcare-poised-for-d-street-debut-5724891.html|access-date=2021-03-11|website=Moneycontrol|date=18 August 2020 }}{{cite news |date=22 August 2020 |title=Max Healthcare Institute lists on bourses, eyes robust growth |url=https://www.zeebiz.com/india/news-max-healthcare-institute-lists-on-bourses-eyes-robust-growth-133820 |access-date=8 December 2020 |work=Zee Business}} Between 2021 and 2022, co-promoter KKR & Co. Inc. sold its entire stake in Max Healthcare. As a result, Abhay Soi became the sole promoter of the company with over 23% stake.{{cite news |last1=Dhanjal |first1=Swaraj Singh |last2=Laskar |first2=Anirudh |title=KKR sells Max stake in PE's largest exit |url=https://www.livemint.com/companies/news/kkr-sells-max-stake-in-pe-s-largest-exit-11660673639652.html |access-date=24 December 2022 |work=mint |date=16 August 2022 |language=en}}{{Cite web |last=Laskar |first=Anirudh |date=2022-07-14 |title=KKR might sell entire stake in Max Healthcare for ₹12,000cr |url=https://www.livemint.com/companies/news/kkr-may-sell-stake-in-max-for-12-000-crore-11657822611101.html |access-date=2023-07-09 |website=mint |language=en}}
In 2021, the company obtained the rights to aid the development of a 500-bed hospital in Saket, South Delhi.{{Cite web |date=2021-08-29 |title=Delhi: Another Max Hospital to come up in Saket |url=https://indianexpress.com/article/cities/delhi/delhi-another-max-hospital-to-be-developed-in-saket-7476181/ |access-date=2023-07-10 |website=The Indian Express |language=en}} It secured two land parcels in Gurgaon for two hospitals.{{Cite news |last=www.ETHealthworld.com |title=Max Healthcare plans Rs 1,600 cr investment to add around 1,000 beds in Gurugram |url=https://economictimes.indiatimes.com/industry/healthcare/biotech/healthcare/max-healthcare-plans-rs-1600-crore-investment-to-add-around-1000-beds-in-gurugram/articleshow/86755795.cms |access-date=2023-07-10 |website=Economic Times |date=4 October 2021 |language=en}} The company also executed an O&M agreement to manage the 300-bed Muthoot Hospital in Dwarka, Delhi.{{Cite news |last=Pilla |first=Viswanath |date=2022-01-20 |title=Max Healthcare to manage 300 bed Muthoot Hospitals in Delhi suburb |work=The Economic Times |url=https://economictimes.indiatimes.com/industry/healthcare/biotech/healthcare/max-healthcare-to-manage-300-bed-muthoot-hospitals-in-delhi-suburb/articleshow/89016251.cms |access-date=2023-07-10 |issn=0013-0389}} In 2022, it acquired a controlling stake in Eqova Healthcare, which had the rights to provide medical services to an upcoming hospital in Patparganj, East Delhi.{{Cite web |date=2022-02-11 |title=Max Healthcare Institute to acquire Eqova Healthcare |url=https://www.thehindubusinessline.com/companies/max-healthcare-institute-to-acquire-eqova-healthcare/article65001654.ece |access-date=2023-07-10 |website=www.thehindubusinessline.com |language=en}}
In December 2023, Max Healthcare acquired Sahara Hospital in Lucknow for {{INRconvert|940|c}}.{{Cite web |date=2023-12-08 |title=Max Healthcare expands footprint with ₹940-crore acquisition of Lucknow's Starlit Medical Centre |url=https://www.cnbctv18.com/business/companies/max-healthcare-expands-footprint-with-rs-125-crore-acquisition-of-lucknow-starlit-medical-centre-18523361.htm |access-date=2023-12-08 |website=CNBCTV18 |language=en}} In February 2024, it acquired Alexis Multi-Specialty Hospital in Nagpur for {{INRconvert|412|c}}.{{cite news |title=Max Healthcare strengthens western presence by acquiring Alexis multi-specialty hospital |url=https://www.thehindubusinessline.com/companies/max-healthcare-strengthens-western-presence-by-acquiring-alexis-multi-specialty-hospital/article67828546.ece |access-date=9 February 2024 |work=BusinessLine |date=9 February 2024 |language=en}}
In September 2024, Max Healthcare acquired a 64% stake in Jaypee Healthcare at an enterprise value of {{INRconvert|1660|c}}, gaining control of three hospitals in Noida, Bulandshahr and Anupshahr.{{cite web|url=https://www.newindianexpress.com/business/2024/Sep/14/max-to-buy-64-in-jaypee-healthcare |title=Max to buy 64% stake in Jaypee Healthcare |work=The New Indian Express |date=14 September 2024 |access-date=14 September 2024}}
Education and research
{{Advert section|date=October 2024}}
Max Institute of Medical Excellence (MIME) has held various training programs across multiple disciplines.{{Cite web |date=August 16, 2021 |title=Dr Dibya Singha Das lauded one top joint replacement surgeons country |url=https://www.ibtimes.co.in/dr-dibya-singha-das-lauded-one-top-joint-replacement-surgeons-country-839769 |website=International Business Times}}{{Cite web |title=Max institute to conduct emergency medicine exam |url=https://www.amarujala.com/max-institute-to-conduct-emergency-medicine-exam |access-date=2023-07-10 |website=Amar Ujala |language=hi}} Courses offered include a full-time postgraduate Internal Medicine Training (IMT) program in association with the Joint Royal College of Physicians Training Board (JRCPTB), UK.{{Cite web |date=2020-01-17 |title=Max Healthcare joins hands with The Royal College of Physicians to organise General Medicine Symposium |url=https://www.expresshealthcare.in/news/max-healthcare-joins-hands-with-the-royal-college-of-physicians-to-organise-general-medicine-symposium/416227/ |access-date=2023-07-10 |website=Express Healthcare |language=en-US}} The institute offers a program affiliated with the Lincoln American University, Guyana to train MBBS students. The clinical rotation of 88 weeks is divided among surgery, obstetrics and gynecology, pediatrics, and family medicine, and various electives like gastroenterology, urology, nephrology, psychiatry, dermatology, orthopedics, rheumatology, neurology and neurosurgery, cardiology, and cardio-thoracic surgery, etc.{{Cite web |date=August 6, 2021 |title=Lincoln American University collaborates with Singhania University to help Indian medical aspirants |url=https://theprint.in/ani-press-releases/lincoln-american-university-collaborates-with-singhania-university-to-help-indian-medical-aspirants/710671/ |website=The Print}}
Subsidiaries
- Max Lab provides diagnostics and pathology services through its own labs and partner entities. It is the third-largest diagnostics chain in north India.{{cite news |title=Max Healthcare - A three-act play: growth, quality, returns |url=https://www.hdfcsec.com/hsl.docs/Max%20Healthcare%20-%20IC%20-%20HSIE-202108091409450342797.pdf |access-date=11 January 2023 |work=HDFC securities}}
- Max@Home provides home care, home health nursing, house call and medicine delivery services among others.
Controversies
In September 2013, a patient who had received a pacemaker implantation at Max Super Speciality Hospital, Mohali, died after the doctor allegedly implanted a "wrong and cheap pacemaker". In 2014, the Chief Judicial Magistrate Court (CJM) of Mohali summoned the hospital's CEO and doctor to stand trial against charges of medical negligence, conspiracy and cheating.{{cite news |title=Max Hospital CEO, doc summoned |url=https://www.tribuneindia.com/news/archive/features/max-hospital-ceo-doc-summoned-16410 |access-date=28 March 2024 |work=Tribune India}} In 2017, the State Consumer Disputes Redressal Commission ordered the hospital to pay a compensation of {{INRconvert|32.94|l|mode=historical|year=2017}} to the wife of the deceased patient.{{cite news |title=Commission directs Max Hospital to pay Rs 32.94 lakh |url=https://www.tribuneindia.com/news/archive/chandigarh/commission-directs-max-hospital-to-pay-rs-32-94-lakh-414835 |access-date=28 March 2024 |work=Tribune India}} The CJM's summoning order was upheld by the Punjab and Haryana High Court in 2024.{{cite news |title=Death by medical negligence: HC refuses to quash summoning order against Mohali hospital, doc |url=https://www.hindustantimes.com/cities/chandigarh-news/death-by-medical-negligence-hc-refuses-to-quash-summoning-order-against-mohali-hospital-doc-101710378404908.html |access-date=28 March 2024 |work=Hindustan Times |date=14 March 2024 |language=en}}
In 2015, the Competition Commission of India (CCI) ordered a probe into Max Super Speciality Hospital, Patparganj, which was allegedly selling disposable syringes to patients at inflated prices. In 2017, the CCI investigation concluded that the hospital was making 275% to 525% profits by forcing patients to buy the products at maximum retail price from its own pharmacy in "a clear instance of abuse of the dominant position". It noted that overcharging was prevalent across all 14 hospitals of Max Group.{{cite news |title=Max makes profit of up to 525% on syringes: CCI |url=https://timesofindia.indiatimes.com/city/delhi/max-gets-up-to-525-margin-on-syringes-for-inpatients-says-cci-probe/articleshow/61953670.cms |access-date=28 March 2024 |work=The Times of India |date=7 December 2017}}
In 2016, the Government of Delhi ordered five hospitals in the city, including Max Super Speciality Hospital, Saket, to pay a total fine of {{INRconvert|600|c|mode=historical|year=2016}} for denying free-of-cost treatment to the poor. The government stated that the five hospitals were granted land at concessional rates on the condition that they provide free medical treatment to poor people totalling to 10% of all in-patients and 25% of all outpatients, but they had failed to comply with the condition.{{cite news |title=Five city hospitals 'fined' Rs 600 crore for spurning the poor |url=https://timesofindia.indiatimes.com/city/delhi/five-city-hospitals-fined-rs-600-crore-for-spurning-the-poor/articleshow/52709318.cms |access-date=6 April 2024 |work=The Times of India |date=12 June 2016}}{{cite news |title=Delhi government yet to recover Rs 600 cr fine from 5 private hospitals |url=https://www.dnaindia.com/mumbai/report-delhi-government-yet-to-recover-rs-600-cr-fine-from-5-private-hospitals-2635335 |access-date=6 April 2024 |work=DNA India |date=10 July 2018 |archive-url=https://web.archive.org/web/20180710090232/https://www.dnaindia.com/mumbai/report-delhi-government-yet-to-recover-rs-600-cr-fine-from-5-private-hospitals-2635335 |archive-date=10 July 2018 |language=en}}
In December 2017, the Government of Delhi suspended the license of Max Super Speciality Hospital, Shalimar Bagh, which had wrongly declared a preterm baby dead that was later found to be alive. Delhi Health Minister Satyendar Jain labelled the hospital as a "habitual offender" and said that three notices had been served to the hospital earlier over medical lapses.{{cite news |last1=Sharma |first1=Neetu Chandra |title=Max Hospital Shalimar Bagh loses licence over negligence |url=https://www.livemint.com/Politics/QgNnUmD7ya1mTxywHE9NQN/Delhi-government-cancels-licence-of-Max-Hospital-in-Shalimar.html |access-date=28 March 2024 |work=Mint |date=8 December 2017 |language=en}}{{cite news |title=Foetus below 24 weeks not viable, say doctors |url=https://www.theweek.in/news/india/foetus-below-24-weeks-not-viable-say-doctors.html |access-date=29 March 2024 |work=theweek.in}} The hospital resumed operations later that month after the license suspension was stayed.{{cite news |title=Delhi: Max Hospital in Shalimar Bagh resumes operations, suspension of licence stayed |url=https://indianexpress.com/article/cities/delhi/delhi-max-hospital-shalimar-bagh-resumes-operations-suspension-of-licence-stayed-4990992/ |access-date=28 March 2024 |work=The Indian Express |date=20 December 2017 |language=en}}
During the outbreak of COVID-19 in 2020, Max Super Speciality Hospital, Patparganj, received criticism for its high treatment costs. The hospital issued a statement that charges of over {{INRconvert|1|l|mode=historical|year=2020}} per day was applicable only for "very critical COVID-19 patients".{{cite news |last1=Porecha |first1=Maitri |title=Loss of face for Max Hospital over steep Covid-19 charges |url=https://www.thehindubusinessline.com/news/loss-of-face-for-max-hospital-over-steep-covid-19-charges/article31826850.ece |access-date=29 March 2024 |work=Business Line |date=14 June 2020 |language=en}}{{Cite web|title=Max Healthcare COVID-19 pricing controversy - All you need to know|url=https://www.freepressjournal.in/india/max-healthcare-covid-19-pricing-controversy-all-you-need-to-know|access-date=2021-03-17|website=Free Press Journal|language=en}}
References
{{Reflist}}
External links
- {{Official website|http://www.maxhealthcare.in/}}
{{Authority control}}
Category:Health care companies established in 2000
Category:Companies based in Delhi
Category:Hospitals established in 2000
Category:Indian companies established in 2000
Category:Health care companies of India
Category:Hospital networks in India
Category:2000 establishments in Delhi
Category:Companies listed on the National Stock Exchange of India
Category:Companies listed on the Bombay Stock Exchange