New
Delhi, 30 December, 2004:
Max
Healthcare Institute Limited, a subsidiary of
Max India Limited, today announced its decision
to make a preferential allotment of shares to
Madison Holding Limited and Melany Holdings
Limited, registered FIIs belonging to the Warburg
Pincus Group. The allotment approved by the
board represents a 13.8% stake in the equity
base of the Company. The planned investment,
totaling Rs. 25 crore is for 1,88,67,925 equity
shares of Rs 10/- each at an issue price of
Rs. 13.25 per share. This represents a premium
of 32.5% per share. With this investment, Max
Healthcare joins the select group of Indian
companies in which Warburg Pincus has made investments.
The total investment of Warburg Pincus in India
is over US$ 850 million.
Mr.
Analjit Singh, Chairman, Max India said,
"Max has always partnered with the best in class,
such as now with Warburg Pincus who are the
highest pedigree private equity investor internationally.
Max believes in service excellence and financial
strength and this partnership would therefore,
accelerate our growth plans in the healthcare
sector to emerge as a leading healthcare provider
in the National Capital Region. We welcome Warburg
Pincus to the Max family."
Mr.
B. Anantharaman, Jt. Managing Director, Max
India said, "The proposed investment by
Warburg Pincus acknowledges the strong business
fundamentals of the Max Group as it builds the
country's top quartile private life insurance
business and an integrated Healthcare delivery
business in the National Capital Region." "The
equity infusion by Warburg Pincus in Max Healthcare
will help meet the long-term funding needs of
this capital intensive business," he added.
About
Warburg Pincus
Warburg
Pincus has been a leading private equity
investor since 1971. The firm currently has
approximately $14 billion under management,
including $4 billion available for investment
in a range of industries including business
services, energy, financial services and technologies,
healthcare and life sciences, information and
communication technology, media and real estate.
Warburg Pincus is an experienced partner to
entrepreneurs seeking to create and build durable
companies with sustainable value. The firm has
an active portfolio of about 125 companies.
Warburg
Pincus is the largest international private
equity investor in India with investments of
over US$ 800 million in the country. The firm's
key portfolio companies include Bharti Tele-Ventures,
Gujarat Ambuja, Moser Baer, Nicholas Piramal,
Rediff and WNS Global Services
About
Max Healthcare
Max
Healthcare is the country's first comprehensive
provider of standardized, seamless, integrated
and world-class healthcare services. It is committed
to the highest standards of medical and service
excellence, patient care, scientific knowledge
and medical education. Focused on the National
Capital Region (NCR) in the first phase, Max
Healthcare has a primary care clinic (Dr. Max™
Clinics) located in South Delhi and three secondary
care hospitals at Panchsheel Park in South Delhi,
Noida and Pitampura in North Delhi. The fourth
hospital, Max Balaji Hospital, at Patparganj
in East Delhi is scheduled to be commissioned
in early 2005 and the fifth hospital in Gurgaon
shall be launched in 2006. Max Healthcare's
flagship tertiary care Hospital at Saket, is
scheduled to be opened in phases, with the first
wing- Max Devki Devi Heart & Vascular Institute,
all set for launch.
Max
Healthcare has a medical collaboration with
Singapore General Hospital in areas of medical
practices, research and training.
Max
Healthcare has over 400 leading doctors, 280
corporate clients and a patient base in excess
of 1,70,000. By 2006, it will have over 1400
patient beds and 6 Hospitals in the NCR; emerging
as a dominant player in North India.
For
further information contact :
Mr
B Anantharaman
Jt. Managing Director
Max India Limited
Mr
Deep Ghatak
Manager-Corporate Communications
Max India Limited
Ph:
011-26933610; Fax: 011-26324126
