Max Healthcare Institute has announced its plan to acquire a 58.4% controlling stake in Odisha-based Kalinga Hospital, valuing the deal at around ₹300 crore.
The 250-bed, NABH-accredited hospital, spread across a 10-acre campus in Bhubaneswar, offers a wide range of medical services including neurology, cardiology, orthopaedics, gastroenterology, renal sciences, and oncology. It also houses an advanced in-house diagnostics unit with facilities such as a 128-slice CT scanner, 1.5T MRI, and a cath lab.
Commenting on the acquisition, Abhay Soi, Chairman and Managing Director of Max Healthcare, said the move marks the company’s entry into the Bhubaneswar market, which he described as highly promising. He added that the hospital’s strong location, established reputation, and scope for expansion make it a valuable addition.
Max Healthcare, which crossed the ₹1 lakh crore market capitalisation milestone last year, has been actively expanding beyond metro cities. The company is pursuing both greenfield and brownfield projects to strengthen its footprint.
As part of this strategy, the company had earlier signed a share purchase agreement to acquire Yerawada Properties Pvt. Ltd. to develop a 450-bed hospital in Pune.
Financially, the hospital chain reported revenue of ₹2,608 crore and a net profit of ₹344 crore for the December quarter, with an average revenue per occupied bed (ARPOB) of approximately ₹77,900.