New Delhi, December 27, 2002:

New Delhi, December 17, 2002: Max Healthcare Institute Limited (Max Healthcare) today was sanctioned the first ever private sector loan of US $ 20 million by Asian Development Bank (ADB). This loan will support Max Healthcare's vision of creating an integrated healthcare system in India.

"ADB recognizes that the private sector has an important role in meeting growing demand for health care services in the India," said B Anantharaman, Group Finance Director, Max India Limited. "This loan is an acknowledgment of our unique integrated healthcare model which is committed to the highest standards of excellence in patient care, scientific knowledge and medical education,"

Max Healthcare has already been given approval for a long-term 50 crore loan by Canara Bank. The financial closure of Max Healthcare's Rs 420 crore project is expected to happen shortly.
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This endeavor of ADB and Max Healthcare is aimed at alleviating a critical shortage of health care in NCR Delhi by expanding access to medical services and helping to raise health care quality to international standards. The medical network to be established will include up to 16 neighborhood primary clinics; five secondary medical centers, each serving a population of about 2.5 million; and two tertiary hospitals. Free in-patient facilities and outpatient consultations will be provided for the poor.

"This is a landmark project because it is ADB's first local currency loan in India and also our first private sector infrastructure project in the country for six years. We support the use of local currency debt for projects that have revenues largely in local currency to avoid currency mismatches," said Robert Bestani, Director General of ADB's Private Sector Operations Department.

About Max Healthcare
Max Healthcare aims to be the country's first comprehensive provider of standardised, seamless, integrated and world-class healthcare service committed to the highest standards of excellence, patient care, scientific knowledge and medical education. Through its technical collaboration with Harvard Medical International (HMI), Max Healthcare has access to the enormous pool of knowledge of Harvard Medical System.
It has already opened two primary clinics, Dr Max Clinics™, located in Maharani Bagh and Greater Kailash, and three Max Medcentre'sTM (nursing home + diagnostic) offering comprehensive diagnostic, consultation and surgery services at Panchsheel Park and Pitampura. The hospital, Max Devki Devi Hospital in Saket is scheduled to be opened by the last quarter of 2003.

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