Tag: Max Healthcare

COVID-19 impact: Most hospitals have inadequate personal protection equipment, says Max Healthcare

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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As the number of COVID-19 cases rise. Abhay Soi, Chairman of Max Healthcare discussing the increased load on hospitals as well as their preparedness to handle the same said, there is a short term, medium term, and a long term that is going to perhaps play out as far as the virus is concerned.

He said that there will be postponement of surgeries and medical tourism. “You are going to have postponement of elective surgeries and cancellation of international medical tourism. Essentially, we are going to have a situation where occupancies will go down to about 25-30 percent. That is because of the level of emergency admissions most hospitals have, be it government or private,” he said.

“At this point of time occupancy levels for most players have plummeted to about 40-45 percent and over the next few days I do estimate that going down to about 25-30 percent,” he said in an interview with CNBC-TV18.

However, he expects the occupancies to surge as COVID-19 cases increase. “Although business has been impacted, we have to gear up for higher level of operations. In the medium run, if the COVID-19 surge comes, we are going to have very high level of occupancies.

“And once that abates, and I hope over the short to medium run that should happen, you are going to have capacities perhaps come down for some time while COVID-19 is going out of the picture, and then suddenly surge because of a lot of the electives would form a part of the latent demand at that stage,” he added.

According to him, there is need to be infrastructure ready for COVID-19 patients. “Most of these are medical cases and so you do require a little more capacity as far as ventilators are concerned. Other than this, you need to create negative pressure rooms in ICUs. That can be done with a very small amount of tinkering as far as heating, ventilation, and air conditioning (HVAC) system and the mechanics are concerned,” he added.

However, there is a need for personal protection equipment (PPE). “We run 3500 beds, a 350 bed hospital will require about 20,000-25,000 personal protection gears in a month and that is a very large number. We will require about 2.5 lakh PPE and that is where the problem is because most players, be it the private sector or the public sector, their capacities or their stock of PPE at this stage is inadequate to vastly inadequate,” he said.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

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Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Coronavirus: Don’t wait for symptoms, take preventive measures, says Max Healthcare

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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The Coronavirus virus has claimed over 100 lives so far with around 4,500 cases worldwide. While the majority of the reported cases are in mainland China, there have been a few suspected cases in India as well, but none have been tested positive so far.

In an interview to CNBC-TV18, Sandeep Budhiraja of Max Healthcare and Sudarshan Ballal of Manipal Hospitals discussed the implications and preventive measures of virus.

Ballal said, “I do not think we can expect cures, but almost all doctors practicing in India are quite familiar with what we call as respiratory viruses – whether it be Severe Acute Respiratory Syndrome (SARS), Middle East respiratory syndrome (MERS), or the regular H1N1.”

“Coronavirus is the new kid on the block and has been a lot more deadly,  mainly due to two reasons. One, it is a new virus which means there is no innate immunity in the citizens who have not been exposed to it in the past. Secondly, worrisome thing is that this disease can be transmitted even before the symptoms manifest, which means one may not know that the person sitting next to you has the Coronavirus infection and he might still infect you. So, one has to be careful but not necessarily panic,” said Ballal.

Budhiraja said, “A few days back the thought process was that it may not be so highly infectious between human-to-human since the infection would get passed only after the symptoms start. However, now that has been proven to be wrong, and the transmission is likely much before even the symptoms start. So, that is a big worry for this particular epidemic and the chances of it spreading wide are much higher.”

Talking about preventive measures, Budhiraja said, “One should not wait for the symptoms to develop but follow preventive strategies. The most important single preventive strategy is hand wash – wash your hands whenever you touch any object.’

“Even at the earliest signs of symptoms of any illness, wear a mask, and as far as possible avoid crowded places,” said Budhiraja.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Radiant Life Care acquires 49.7% stake in Max Healthcare

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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KKR-backed hospital management company Radiant Life Care has completed the acquisition of 49.7 percent stake in the Max Healthcare Institute from the South Africa-based Life Healthcare.

Radiant Life Care’s promoter Abhay Soi will now be the Chairman of Max Healthcare’s board and its executive council.

“As part of the transaction, Max India’s promoters will receive an advance of Rs 361 crore ($52.2 million) from KKR in exchange for a 4.99 percent stake in the merged entity. Max India’s promoters will use the funds for deleveraging purposes,” the companies said in a joint statement on Friday.

Commenting on the acquisition, Analjit Singh, founder and Chairman of Max Group, said: “The merger and the future planned expansion will provide the scale that MHC needs for profitable growth at a time when healthcare margins are being tested. I also want to thank our outgoing JV partner Life Healthcare for being supportive participants in MHC’s growth and progress.”

Radiant funded this acquisition with an investment from KKR’s “Asian Fund III”. The process of combining Radiant Life Care and Max Healthcare and the eventual listing of Max Healthcare is underway, and is likely to be completed in six to eight months, subject to receipt of the requisite approvals, the statement said.

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Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Max group’s Analjit Singh likely to sell assets to repay loans, says report

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Max group promoter Analjit Singh is looking to sell assets to repay loans raised through the pledging of promoter shares, reported Business Standard.

Singh is planning to sell a minority stake in Max Financial Services (MFSL), the holding company of Max Life, as well as some real estate assets, the report said citing merchant banking sources.

According to the report, Singh will sell 5 percent of his 12 percent stake in the entity formed after the merger of KKR-backed Radiant Life Care and Max Healthcare.

The process will be completed in four to six months and promoters have decided not to sell off or merge the life insurance business with a strategic investor, the report said.

The report also added that the group might also consider selling its speciality films business, in which it has a 49 percent stake, to repay the loans.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

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Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Healthcare poised to grow at fast pace in India, says KKR CEO Sanjay Nayar

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Healthcare sector in India is poised to grow at fast pace and with the centre announcing new schemes in the sector, the industry will be able to cater to patients and people at large with a right kind of healthcare service model, said Sanjay Nayar, CEO and country head, KKR India.

Going forward, one will see more foreign capital flow into Indian healthcare if policies remain supportive, Nayar said.

“The private sector needs to step-up with good capital. We need to consolidate and need to bring in a lot of efficiencies,” he said.

Radiant Life Care and global investment firm KKR are set to acquire to acquire a majority stake in Max Health from Max India. KKR will hold 51.9 percent stake in the hospital combined entity.

The deal also includes Radiant Life’s purchase of a 49.7 percent stake in Max Healthcare from South Africa-based hospital operator Life Healthcare International Proprietary Ltd.

“At a very broad level what is happening is that this results in a pure play healthcare listed entity as Max India will demerge its non-healthcare business and Radiant will basically buy out life healthcare in Max Healthcare,” Nayar said.

According to him, the listing would take about 8-12 months. KKR will be the co-promoter of the new entity, he said.

Radiant and Max will bring in a lot of efficiencies with synergies, better clinical service etc, said Nayar.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Indian market ends with minor gains, Nifty holds 10,800

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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The Indian market closed flat after a range-bound trade on last day of the week. The NSE major, Nifty, advanced 14 points to 10,805 and the Sensex 33 points to 35,963.

The broader indices, the Nifty Midcap index and the Nifty Bank too ended flat at 17,592 and 26,826 respectively. Financial stocks, HDFC, HDFC Bank and Kotak Mahindra Bank dragged the market, while Infosys, Bharti Airtel and Reliance Industries Ltd helped it close with minor gains.

Yes Bank saw a gain of over 3 percent after reports of Brahm Dutt likely becoming the part-time non-executive chairman of the bank. Dutt has been on the board of Yes Bank since 2013.

However, minor gains in the market failed to turn market breadth in favour of advances. The NSE Advance-Decline ratio was 1:1 at the close. Put-call ratio too increased to 1.54 from Thursday’s level of 1.50 percent.

From the midcap space, Max India was amongst top gainers on reports of Radiant Life Care buying Max Healthcare. But, Fortis Health slipped 7 percent after the Supreme Court put its sale to Malaysian group IHH Bhd on hold.

For the week, the Sensex, Nifty and Nifty Bank gained 1 percent each, while the Nifty Midcap Index outperformed with a gain of over 3 percent.

In the derivatives space, the Nifty 10,700 and 10,800 Put options added nearly 6 lakh shares each in the open interest with premium of both the options moving 4 percent lower.

And, the call option of 11,000 added 2 lakh shares in the open interest with premium slipping 14 percent. The Nifty December Futures closed with a premium of 17 points against a premium of 33 points on Thursday.

On the global front, shares in Asia closed lower on Friday as China reported a slew of economic data that missed expectations, deepening worries about headwinds facing the world’s second largest economy.

China reported that industrial production in November grew 5.4 percent year-on-year, lower than the 5.9 percent that Reuters projected. Retail sales in the country rose 8.1 percent last month, below the 8.8 percent expected and the weakest pace since 2003, according to Reuters’ records.

Greater China markets fell on Friday. The Shanghai Composite ended the day 1.53 percent weaker at 2,594 and the Shenzhen Composite closed 2.46 percent lower at 1,327.

Hong Kong’s Hang Seng Index declined 1.6 percent. Australian markets also fell. The ASX 200 declined 1.05 percent to 5,602 points at Friday’s close and the Australian dollar was at 0.7183 against the US dollar, below Thursday’s 0.7226.

Other Asian markets were also in negative territory. South Korea’s Kospi slipped 1.25 percent to end the day at 2,069.38. Over in Japan, the Nikkei 225 declined by 2 percent to close at 21,374, while the Topix index was down 1.51 percent to 1,592.16 at the end of Friday’s session.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Radiant Life Care in talks to acquire Max Healthcare, says report

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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KKR-led Radiant Life Care is in talks to acquire Max Healthcare, sources close to the development told The Economic Times, adding that the deal between the two is likely to be announced next week.

“The deal is being structured in such a way that the combined healthcare business will be listed on the Indian bourses with KKR as the dominant investor with about 50 percent stake… Analjit Singh, the founding promoters of the Max Group, will have about 15-16 percent stake and Abhay Soi, who owns a 51 percent stake in Radiant Life Care, will have a 14-15 percent stake in the ultimate listed company,” a source was quoted as saying in the report.

According to the ET sources, under the deal, Max India will first be split to create a pure play listed holding company. Following this, the combined entity that consists of Radiant and Max Healthcare will be into the holding company, the report said.

The remaining stakes, which will be around 20 percent, will be with the public shareholders of Max India, the report added.

The development comes after Max India entered into a definitive agreement to buy a 49.7 percent stake in Max Healthcare for $293 million from South Africa-headquartered Life Healthcare Group Holdings last September, the report said.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

OYO appoints Max Healthcare’s Rohit Kapoor CEO of new real estate business

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Hospitality firm OYO on Tuesday said it has appointed Max Healthcare Executive Director Rohit Kapoor as the chief executive officer (CEO) of its new real estate businesses, effective December 6.

Kapoor will be entrusted with the responsibility to drive new real estate business opportunities which will include exploring new domains and categories and other strategic initiatives, OYO said in a statement.

He will also be responsible for growing OYO’s business in India as well as across international markets, through strategic partnerships and investment opportunities, it added.

Kapoor will be reporting to OYO Hotels & Homes Founder & Group CEO Ritesh Agarwal, the statement said.

“We recently announced our foray into long-term rentals, with the launch of OYO Living, which marks a key milestone as we embark on our journey towards becoming India’s biggest provider of housing, consolidating our position as a category innovator and leader,” Agarwal said.

While the company continues to grow its hospitality business, new real estate initiatives, such as this, will play a key role in driving the next wave of growth at OYO, he added.

“With Rohit (Kapoor) taking on this mantle, we are confident that he will be able to help OYO Hotels & Homes set new benchmarks in the accommodation business and evaluate new opportunities in the real estate industry,” Agarwal said.

Before this, Kapoor has been the executive director and a member on the board of Max Healthcare, a joint venture between Max India and Life Healthcare, South Africa, stated OYO.

“I’m thrilled to join OYO’s mission of upgrading different forms of real estate and creating unique accommodations experiences, and partner with Ritesh in driving the next wave of growth at OYO,” Rohit Kapoor said.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Life Healthcare to sell stake in Max Healthcare for $293 million

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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South African private hospital group Life Healthcare said on Wednesday it will sell its entire 49.7 percent stake in Max Healthcare to a global investment firm for 4.3 billion rand ($293 million) in order to focus on its operations elsewhere.

“The company will initially use the net disposal proceeds to settle debt as well as to invest in growth opportunities in its core markets,” the group said in a statement.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow