Takeover of Max Healthcare creates major hospital group

The Competition Commission of India has cleared the proposed takeover of Delhi-based Max Healthcare by KKR-backed Radiant Life Care.

Abhay Soi, chairman and managing director of Radiant, will lead the company as chairman. “Radiant has achieved significant growth and expansion during a time of rapid industry consolidation, and the proposed acquisition of a majority stake in Max Healthcare marks an exciting step forward in our strategy to increase scale by merging with a leading and complementary hospital network,” he said.

“The combination of Radiant and Max Healthcare will create the largest hospital network in North India, which will become among the top three hospital networks in India by revenue and the fourth largest in India in terms of operating beds,” they said in a joint statement.

More details of the takeover can be found at Healthcare Markets International.