Max Group embarks on expansion drive

Max Group embarks on expansion drive

Lays down a roadmap to cross US$ 5 billion mark in revenue by FY 11-12

  • Life Insurance: Restructures its joint-venture arrangement with New York Life; becomes the first life insurer in India to declare Embedded Value; plans accelerated growth for life insurance business; increases peak capital commitment significantly
  • Healthcare Insurance: Forays into health insurance in a joint-venture with BUPA Finance Plc., UK
  • Healthcare: To double the bed capacity to 1,500 beds by 2010; increase service offerings to include Oncology and Infertility
    Speciality Packaging Products: To boost production capacity by adding two thermal film lines; non-binding MoU with a world leader for manufacture and distribution of thermal films

Max India today announced accelerated growth plans and certain recent developments for the Group, which it believes will add significant value to its shareholders. The growth plans, mainly driven by significant expansion for the life insurance business, have the potential to achieve US$ 5 billion in revenue by FY 11-12.

Life Insurance

Max India has restructured its joint venture with New York Life. The Company has modified the terms of option available to New York Life for purchase of 24% stake in Max New York Life. Under the revised arrangements, New York Life has an option to buy up to an additional 24% stake and increase its shareholding in Max New York Life. This option will be valid for a period of 8 years and priced on a fair market value based formula, less discount of 10%, as against an earlier preferential formula.

This restructuring of joint venture will significantly enhance value for Max India shareholders, here and now. Further, Max India and New York Life have signed off on a significantly profitable growth plan which targets Annualised First Year Premium (new sales) of Rs. 12,000 crore by FY 11-12. The plan also calls for an increase in sales force from 47,000 agents to 300,000 agents and adding atleast 250 offices every year going forward. This will expand Max New York Life’s distribution footprint from 311 offices as at June’08 end to around 900 agency offices and 700 rural offices by FY 11-12. The expansion plan will entail a peak capital commitment of Rs. 3,600 crore, of which Rs. 1,232 crore has already been invested.

To supplement its growth plans, Max New York Life has launched new products in the child benefit, retirement and health segments. On the mass insurance front, Max New York Life has finalised plans to address the insurance and saving needs of 100 million low income population. The initiative is targeted at under serviced households and will be launched pan-India shortly.

Max New York Life also declared embedded value of its life insurance business, becoming the first life insurer to disclose this. It has estimated the embedded value, represented by aggregate of adjusted net worth and present value of future profits of the in-force business, to be Rs. 1,316 crore as at March 31, 2008.

Health Insurance

Max India announced its plans to tap the health insurance opportunity in India. It will create a new stand alone joint venture for health insurance with the BUPA Finance Plc., UK, a leading global health and care organisation. The initial share capital of the JV will be Rs.100 Crore, with 50% equity participation by Max India. Bupa group will have a 26% shareholding in the JV, while the balance 24% will be held by Mr. Analjit Singh and his family through certain intermediate companies. The joint venture called Max Bupa Health Insurance Limited will offer a suite of products to both retail and business customers.

Healthcare

Max Healthcare is on track to double the bed capacity of its business to 1,500 beds by 2010 by adding three more facilities in the National Capital Region (NCR) of Delhi and one outside the NCR region i.e. in Dehradun. These hospitals will see Max Healthcare expanding its service offerings to include Oncology and Infertility. A 270-bedded tertiary care facility in Patparganj (East Delhi), 100-bedded tertiary care facility in Saket (South Delhi) and 100-bedded facility in Dehradun (North India) will be set-up by second half of 2009. Another 300-bedded facility will be added in Shalimar Bagh (North-west Delhi) by last quarter of 2010. Meanwhile, existing facilities in Max Healthcare’s network also turned EBITDA positive at Rs. 20 crore in FY 07-08 on a revenue base of Rs. 372 crore. Current revenue run rate is at an annualized Rs. 400 crore per year.

Speciality Packaging Products

Encouraged by the speciality packaging products business achieving 100% utilisation within a year of tripling capacities to 29,000 TPA, Max India has drawn up plans to expand the business further. To begin with, it will add two lines for production of thermal films. It has signed a non-binding MoU with a world leader for manufacture and distribution of thermal films. The first thermal film production line will be operational in October 2008 followed by second in August 2009. Max India is also planning for fourth BOPP production line with a capacity of 20,000 TPA by early 2010.

Clinical Research

Clinical Research business is witnessing traction with its revenue and order-book growing multi-fold. Backed by increased service offerings, the order-book for the business has grown 140% year-on-year to Rs. 36 crore as at June’08 end. Max Neeman Medical International is targeting to double its revenue to over Rs. 20 crore in FY 08-09 and has already turned profitable in FY 07-08.

For more details contact:

Nitin Thakur

Head – Communications
Max India
Max House, Okhla – III,
New Delhi-110 020
Tele # 2693 3601-10 extn. 196
Cell # +91 9873347428+91 9873347428
E-mail: nthakur@maxindia.com

Rahul Gossian

Communications Specialist
Max India
Max House, Okhla – III,
New Delhi-110 020
Tele # 2693 3601-10 extn. 145
Cell # +91 9873154228+91 9873154228
E-mail: rgossain@maxindia.com

Max India Limited, a major multi-business corporate in the business of life and care, and Bupa Group, a leading international health and care company, have formed a new partnership to enter the health insurance market in India.

The two companies today announced the creation of a joint venture called Max Bupa Health Insurance Limited which, subject to regulatory approval, will offer a suite of products to both consumer and business customers. The initial share capital of the JV will be Rs.100 crores (£12million).

Bupa Group will take a 26 per cent stake in Max Bupa, the maximum allowed under current Indian rules on foreign investment in the country.

India has potential to be one of the largest health insurance markets in the world. With over 70 per cent of India’s healthcare spend being in the private sector, Max India Ltd and Bupa Group believe the new joint venture can be grown into a major health insurance business.

Mr Analjit Singh, Chairman of Max India Ltd, said:

“Max India has been in dialogue with leading international players for the Health Insurance business. Our decision to partner with Bupa was based on the synergies and unique strengths that Bupa brings to this venture. Bupa has the expertise in creating and delivering differentiated health-insurance products and a proven ability to operate in and adapt to international health care markets. Through Max India, we will capitalize on our knowledge and experience in the Health and Life Insurance sectors.”

“I am very excited about this new journey that we are about to embark on and I am confident that with our expertise in forging successful partnerships and working efficiently and successfully in joint ventures alongside global leaders, this collaboration with Bupa will be a momentous one.”

Chief Executive of Bupa Group, Ray King said:

“The Indian health insurance market has massive potential, with a growing, young, population. We believe that many of its citizens will be looking for the high quality of care and customer service that Max Bupa will be well placed to offer.”

“We are pleased that in Max India we have found a partner with sound experience, excellent knowledge of the marketplace, and a set of values which match Bupa’s.”

“This is an exciting opportunity for both Bupa and Max India Ltd. It also emphasises Bupa’s determination to identify, and participate in, new opportunities for health and care provision in international markets.”

About Max India

Max India is a multi-business corporate, driven by the spirit of Enterprise, focused on People and Service oriented businesses of Life Insurance (Max New York Life Insurance), Healthcare (Max Healthcare), and Clinical Research (Max Neeman Medical International). Max India’s other businesses are Speciality packaging products (Max Speciality Products) and Healthcare Staffing (Max HealthStaff). Max India Limited is listed on National Stock Exchange of India and the Bombay Stock Exchange.

The Company’s vision is “to be one of India’s most admired corporates for service excellence.” Towards this end, it has established niche businesses that are today recognised as being at the forefront of service excellence, in each of the industry sectors where it operates.

For the financial year 2007-08, the Max India Group reported revenues of Rs. 3,611 crore (US$ 860 Mn), registering a growth of 81% over the previous year. The Group had a treasury corpus of Rs. 1,261 crore (US$ 300 Mn) with total investments of Rs. 4,840 crore (US$ 1.2 Bn) as on March 31, 2008.

The Group is today in an expansionary phase in its existing businesses. In addition, keeping in mind the core interests in the Life Insurance and Healthcare space, and its business advantage because of significant presence in these areas, Max India is expanding into the business of Healthcare Insurance.

About Bupa

Bupa has 10 million customers in over 200 countries and more than 55,000 employees. In 2007, it celebrated its 60th anniversary, having formed in 1947 as the British United Provident Association. Bupa was founded ‘to prevent, relieve and cure sickness and ill health of every kind’. Six decades on, that remains its goal. As a broad-based health and care group, Bupa continues to help people around the world enjoy longer, healthier lives. Bupa’s core businesses are health insurance, and care homes for the elderly, although it also owns hospitals and has a long history of healthcare provision and illness prevention. With significant operations in the UK, Spain, Australia, United States, New Zealand, Saudi Arabia, Hong Kong and Thailand – Bupa is a leading international healthcare company.

For more details contact:

Max India Limited:

Kirti Madhok Sud

Corporate Communications

Max India Ltd.

Tele # 91 011 2693 361091 011 2693 3610 extn. 174

E-mail: kmadhoksud@maxindia.com

Bupa Group:

Kevin Mochrie

Corporate Communications

Bupa

Tele # 0044 (0) 20 7656 26320044 (0) 20 7656 2632

E-mail: mochriek@bupa.com

Max India announces results for the Year ended March 31, 2008

Consolidated Revenue crosses Rs. 3,600 crore mark

Max India Ltd. today announced its audited results for the quarter and year ended March 31, 2008.

The company has reported consolidated revenue of Rs. 3,611 crore during the year ended March 31, 2008, against Rs. 1,994 crore in the corresponding previous period, a growth of 81%. Operating revenue for the year stood at Rs. 3,244 crore, growing 78% from Rs. 1,819 crore in the corresponding previous period.

Group Investments as at March 31, 2008 stood at Rs. 4,840 crore, a growth of 128% from Rs. 2,123 crore as at March 31, 2007.

Commenting on the results, Mr. Analjit Singh, Chairman & Managing Director, Max India Limited, said, “This was a year of consolidation and gearing up for next phase of growth for the Max Group. Encouraged by strong growth potential offered by the Indian life insurance industry, we committed ourselves to a growth plan which would see Max New York Life further strengthen its position amongst the top quartile life insurance companies in India. This is where the substantial portion of Rs. 1,000 crore raised from qualified institutional placement will get deployed.” “We consolidated our healthcare business by completing the first phase of expansion and raised Rs. 300 crore from IFC, Washington for the second phase of expansion. This would double the bed capacity for Max Healthcare from 770 beds to more than 1500 beds over next 3 years,” Mr. Analjit Singh added.

Max New York Life (MNYL)

Gross premium income for the year ended March 31, 2008 stood at Rs. 2,715 crore, growing 81% year-on-year. Annualized First Year Premium (new sales) for the year ended March 31, 2008 at Rs. 1,676 crore grew 73% year-on-year. Assets under Management at Rs. 3,575 Crore, grew 95% year-on-year.

Gross premium income for the quarter ended March 31, 2008 at Rs. 952 crore grew 86% year-on-year. Annualized First Year Premium (new sales) for the quarter at Rs. 573 crore grew 81% year-on-year.

The Company has sold over 2.3 million policies since inception, with 873,000 policies sold during the year. Sum assured in force as at March 31, 2008 around US$ 17.5 billion (Rs. 700 billion) has grown 56% year-on-year. MNYL increased its agency base to around 37,000 agents, adding close to 12,000 agents. MNYL also increased its geographical presence to 242 offices covering 157 locations across the country by adding 77 new offices during the year. The shareholders infused Rs. 300 Crore as fresh capital during the year, taking the total capitalization of the business to Rs. 1032 Crore.

Max Healthcare (MHC)

Revenue across network of hospitals for the year ended March 31, 2008 at Rs. 372 Crore grew 52% year-on-year. Healthcare business reported positive EBITDA of Rs. 20 Crore during the year against negative Rs. 18 Crore during the previous year.

Revenue across network of hospitals for the quarter ended March 31, 2008 at Rs. 101 crore grew 45% year-on-year. Healthcare business reported positive EBITDA of Rs. 7 Crore during the quarter against negative Rs. 3 Crore during the same quarter previous year.

MHC has around 1,250 doctors in its network, including around 500 doctors on its rolls. With the total patient transactions during the year averaging over 135,000 patients a month, average occupancy across all healthcare care facilities is at 66%. MHC has a registered patient base of over 560,000 patients.

Max Speciality Products (MSP)

March 31, 2008 at Rs. 306 crore grows 84% year-on-year. PBT for the year at Rs. 25 crore grew 108% year-on-year. EBITDA margin for the quarter improved to 16.2% from 12.7% in the corresponding previous period with return on capital employed at 16%.

Revenue for the quarter ended March 31, 2008 at Rs. 92 Crore grew 96% year-on-year. PBT for the quarter at Rs. 10 Crore grew 186% year-on-year. EBITDA margin for the quarter improved to 18.3% from 13.2% in the corresponding previous period with return on capital employed improving significantly to 24%.

The BOPP production lines with a capacity of 29,000 TPA have achieved 100% capacity utilization within a year of tripling capacities. The second thermal coating film line, with a capacity of 10,000 KSM commissioned in October this year, has also achieved a utilization of over 65%.

Max Neeman Medical International (MNMI)

Clinical Research business turned profitable, backed by strong order flows with net earnings of Rs. 0.7 Crore for the year. Revenue also grew three-fold to Rs. 11 Crore from Rs. 4 Crore for the year ended March 31, 2007.

The business has a confirmed order book of Rs. 32 Crore as at March 31, 2008, which has grown from Rs. 9 Crore as at March 31, 2007. Additionally, it has a healthy business development pipeline of around Rs. 80 Crore. This business added 14 new customers during the year, taking its total client base to 43.

About Max India Limited

Max India is a multi-business corporate, driven by the spirit of Enterprise, focused on Knowledge, People and Service oriented businesses of Life Insurance (Max New York Life Insurance), Healthcare (Max Healthcare), and Clinical Research (Neeman Medical International). Max India’s other businesses are Specialty Plastic Products for the packaging industry (Max Speciality Products) and Healthcare Staffing (Max HealthStaff).

Max New York Life (MNYL) is a Joint Venture between New York Life, a Fortune 100 company, and Max India Limited. MNYL has positioned itself firmly on the quality platform. In line with its vision ‘To be the most admired life insurance company in India’, it has developed a strong corporate governance model based on the core values of excellence, honesty, knowledge, caring, integrity and teamwork.

MNYL has established a robust distribution network across the country. With 242 offices in 157 locations and around 37,000 agent advisors, 18 bancassurance relationships, 14 corporate agents and over 800 people strong direct sales team, the Company has built a robust distribution network to support strong growth.

Max Healthcare (MHC) is one of India’s leading providers of customized, seamless, integrated and world–class healthcare services. It is one of the largest private healthcare companies in India with a network of six hospitals, two specialty medical centers and nine clinics that are either owned or managed pursuant to service agreements.

It is committed to the highest standards of medical and service excellence, patient care, scientific knowledge and medical education. MHC operates eight healthcare centers in the NCR, offering services in over 30 medical disciplines with super speciality services in Cardiac care, Neurosciences, Orthopaedics, Paediatrics, and Obstetrics & Gynaecology.

Max Neeman Medical International (MNMI) is a Clinical Research services provider offering various services across the value chain of new drug development to a growing list of pharmaceutical, biotech and CRO clients, in India and abroad. MNMI continues to focus on developing alliances with mid sized pharma and biotech companies to transition their drug development work to India. MNMI continues to focus on building business development pipeline through organic measures and intends to explore inorganic growth options as well.

Max Speciality Products (MSP) specializes in manufacturing of wide range of sophisticated barrier and packaging films. The BOPP division of MSP has an installed capacity of 29,000 tons per annum. MSP’s leather finishing foil business division manufactures a range of leather finishing and laminating foils.

Max HealthStaff International (MHS) is an international healthcare staffing company, founded on world class quality and service excellence. It is committed to be India’s leading healthcare staffing company, placing professionals at healthcare institutions in India and abroad. MHS offers a comprehensive overseas nursing program to Indian nurses. MHS operates its business through 7 training centers located in Delhi, Chandigarh, Kottayam and Chennai.

For more details contact:

Neeraj Basur

Vice President – Corporate Finance

Max India

Max House, Okhla – III,

New Delhi-110 020

Tele # 2693 3601-10 extn. 126

E-mail: nbasur@maxindia.com

Jatin Khanna

Manager Finance

Max India

Max House, Okhla – III,

New Delhi-110 020

Tele # 2693 3601-10 extn. 182

E-mail: jkhanna@maxindia.com

Max New York Life continues high growth

Registers 70% growth in individual first year premium in FY 2008

Max New York Life Insurance, one of the leading life insurance companies of India, today announced it First Year Premium (FYP) income for financial year ended March 2008. During the year, the Company has recorded a growth of 70% in individual first year premium adjusted for single pay. The adjusted individual FYP for FY 2008 stood at Rs.1,308 crore, as compared to Rs.769 crore during previous financial year.

During the last quarter of the financial year (Jan–Mar 08), the Company grew by 95% over the corresponding period last year. The adjusted individual FYP for quarter ended March 2008 stood at Rs. 471 crore, as compared to Rs.241 crore for quarter ended March 2007.

Commenting on the continued high growth of the Company, Mr. Gary Bennett, Managing Director & CEO, Max New York Life Insurance, said, “We have built a robust and values driven business model. We have the best in class agent advisors who are acknowledged for their quality of advice. We always had a strong focus on customer needs and during the past one year we further sharpened our customer centricity. This reflects in our entry into new product segments like health insurance and retirement planning and superior customer service and claims record. These efforts are reflected in our financial performance for the year and will help us continue on this growth trend.”

Max New York Life Insurance sold 8.7 lakh policies during the financial year 2008, an increase of 58% over 5.5 lakh policies sold during financial year 2007. The Company has acquired around 23 lakh policies since inception. In the financial Year 2008, the Assets Under Management also doubled to over Rs.3,600 crore as compared to Rs.1,800 crore as at the end of previous financial year.

During the Financial Year 2008, Max New York Life further strengthened its distribution network. The company launched 77 new offices and now has presence in 157 cities across the country through 242 offices. The rural business of Max New York Life Insurance started its hub and spoke operations in Haryana after witnessing stupendous success in Punjab. The Company also strengthened its partnership distribution channel by signing 4 corporate agency relationships, 5 broking house tie-ups and 8 referral tie-ups with banks.

Max New York Life Insurance launched 13 new products during the financial year and now has a portfolio of 38 products and 8 riders for individuals. The Company entered the health insurance segment with the launch of LifeLine Health Insurance Plans in February 2008. It also strengthened its ULIP portfolio through launch of Like Maker range of products and retirement portfolio through Smart Invest.

Max New York Life Insurance has a strong growth focus. The Company plans to significantly expand its distribution footprint by opening more than 100 new offices every year for the next 3-4 years. The number of agent advisors is expected to touch 2,00,000 from current 36,500. The growth in agency distribution will be complemented by strong growth in partnership distribution. The Company currently has an equity base of Rs.1,032 crore. To support this growth plan, the shareholders are committed to increase the capital base to Rs. 2,650 crores over the next 3-4 years.

About Max New York Life Insurance Co .Ltd ( www.maxnewyorklife.com)

Max New York Life, a joint venture between Max India Ltd. and New York Life, a Fortune 100 company, is one of India’s leading private life insurance companies. The Company offers both individual and group life insurance solutions. It has established a wide distribution network with 242 offices across 157 cities in India. Through its wide network of highly competent life insurance agent advisors and flexible product solutions, Max New York Life is creating a partnership for life within its customers in India.

Note : The figures mentioned in the press note are un-audited

For further details please contact:

Neeraj Basur

Vice President – Corporate Finance

Max India

Max House, Okhla – III,

New Delhi-110 020

Tele # 2693 3601-10 extn. 126

E-mail: nbasur@maxindia.com

Jatin Khanna

Manager Finance

Max India

Max House, Okhla – III,

New Delhi-110 020

Tele # 2693 3601-10 extn. 182

E-mail: jkhanna@maxindia.com

Consolidated Revenue crosses Rs. 1200 crore mark

– Consolidated Revenue at Rs. 1,226 crore, up 103%

– Operating Cash Profit at Rs. 422 crore, up 83%

– Group investments at Rs. 4,627 crore, up 154%

  • Life Insurance Business: Number of policies sold since inception crosses 2 million mark
  • Healthcare Business: Acquires land in North-west Delhi to add 300 beds
  • Speciality plastic products: New BOPP line of 20,000 tpa commissioned in March’07 achieves over 95% capacity utilization

Max India Ltd. today announced its un-audited results for the quarter and nine months ended December 31, 2007.

The Company has reported consolidated revenue of Rs. 2,772 crore during nine months ended December 31, 2007, as against Rs. 1,358 crore in the corresponding previous period, a growth of 104%. Consolidated revenue for the quarter ended December 31, 2007 at Rs. 1,226 crore grew (delete grows) 103% as against Rs. 604 crore in the corresponding previous quarter.

Operating cash profit stood at Rs. 854 crore during nine months ended December 31, 2007 as against Rs. 417 crore in the corresponding previous period, a growth of 105%. Operating cash profit for the quarter ended December 31, 2007 grew 83% at Rs. 422 crore as against Rs. 230 crore in the corresponding previous period.

Group Investments stood at December 31, 2007 at Rs. 4,627 crore against Rs. 1,821 crore as at December 31, 2006 grows 154%.

Commenting on the results, Mr. B. Anantharaman, Joint Managing Director, Max India Limited, said, “Our life insurance, healthcare and speciality packaging businesses have enabled us to deliver yet another quarter of strong performance. Launch of child benefit products boosted our premiums in the current quarter. Opening of 58 new sales offices in the current quarter and expected launch of series of health insurance products in the next quarter should see us continue reporting impressive growth.”

“Our second phase expansion plans involving setting up 4 hospitals along with recent acquisition of land in North-west Delhi will scale up Max Healthcare from the current capacity of 770 beds to over 1500 beds by 2011,” Mr. Anantharaman added.

Max New York Life (MNYL)

Gross premium income for the quarter ended December 31, 2007 at Rs. 764 crore grew 69% year-on-year. Annualized First Year Premium (new sales) for the quarter at Rs. 478 crore grew 60% year-on-year. The Company has sold over 2 million policies since inception with 235,000 policies sold during the quarter. Sum assured in force as at December 30, 2007 around US$ 16 billion (Rs. 626 billion) has grown 69% year-on-year. MNYL added 58 offices during the quarter, increasing the geographic presence to 233 offices across 155 locations across the country.

“In line with the commitment from both the shareholders to invest Rs. 1,800 crore in the life insurance business over next 3 years, the shareholders infused Rs. 100 Crore as fresh capital in the quarter taking the total capitalization of the business to Rs. 907 crore,” Mr. Anantharaman added.

Max Healthcare (MHC)

Revenue across network of hospitals for the quarter ended December 31, 2007 at Rs. 98 crore grew 48% year-on-year. Healthcare business reported positive EBITDA of Rs. 5 crore during the quarter against negative Rs. 3 crore during the same quarter previous year. MHC has around 1,250 doctors in its network, including 576 doctors on its rolls. With the total patient transactions during the quarter averaging at around 140,000 patients a month, the average occupancy across all healthcare care facilities is at 68%. MHC has a registered patient base of over 530,000 patients.

Max Speciality Products (MSP)

The third production line, barely 9 months old, is already being operated at over 95% capacity utilization. Early in October, the second thermal coated film line plant also got operationalized. Revenue for the quarter ended December 31, 2007 at Rs. 84 crore grew 96% year-on-year. PBT for the quarter at Rs. 7 crore grew 129% year-on-year. EBITDA margin for the quarter improved to 16% with return on capital employed maintained at 18%.

About Max India Limited

Max India is a multi-business corporate, driven by the spirit of Enterprise, focused on Knowledge, People and Service oriented businesses of Life Insurance (Max New York Life Insurance), Healthcare (Max Healthcare), and Clinical Research (Neeman Medical International). Max India’s other businesses are Specialty Plastic Products for the packaging industry (Max Speciality Products) and Healthcare Staffing (Max HealthStaff).

Max New York Life (MNYL) is a joint venture between New York Life, a Fortune 100 company, and Max India Limited. MNYL has positioned itself firmly on the quality platform. In line with its vision ‘To be the most admired life insurance company in India’, it has developed a strong corporate governance model based on the core values of excellence, honesty, knowledge, caring, integrity and teamwork.

MNYL has established a robust distribution network across the country. With 233 offices in 155 locations and more than 30,000 agent advisors, 19 bancassurance relationships, 14 corporate agents and around 600 people strong direct sales team, the Company has built a robust distribution network to support strong growth.

Max Healthcare (MHC) is one of India’s leading providers of customized, seamless, integrated and world–class healthcare services. It is one of the largest private healthcare companies in India with a network of six hospitals, two specialty medical centers and nine clinics that are either owned or managed pursuant to service agreements.

It is committed to the highest standards of medical and service excellence, patient care, scientific knowledge and medical education. MHC operates eight healthcare centers in the NCR, offering services in over 30 medical disciplines with super speciality services in Cardiac care, Neurosciences, Orthopaedics, Paediatrics, and Obstetrics & Gynaecology.

Neeman Medical International (NMI) is a Clinical Research services provider offering a various services across the value chain of new drug development to a growing list of pharmaceutical, biotech and CRO clients, in India and abroad. NMI continues to focus on developing alliances with mid sized pharma and biotech companies to transition their drug development work to India. NMI continues to focus on building business development pipeline through organic measures and intends to explore inorganic growth options as well.

Max Speciality Products (MSP) specializes in manufacturing of wide range of sophisticated barrier and packaging films. The BOPP division of MSP has an installed capacity of 29,000 tons per annum. MSP’s leather finishing foil business division manufactures a range of leather finishing and laminating foils.

Max HealthStaff International (MHS) is an international healthcare staffing company, founded on world class quality and service excellence. It is committed to be India’s leading healthcare staffing company, placing professionals at healthcare institutions in India and abroad. MHS offers a comprehensive overseas nursing program to Indian nurses. MHS operates its business through 7 training centers located in Delhi, Chandigarh, Kottayam and Chennai.

For more details contact:

Neeraj Basur

Vice President – Corporate Finance

Max India

Max House, Okhla – III,

New Delhi-110 020

Tele # 2693 3601-10 extn. 126

E-mail: nbasur@maxindia.com

Jatin Khanna

Manager Finance

Max India

Max House, Okhla – III,

New Delhi-110 020

Tele # 2693 3601-10 extn. 182

E-mail: jkhanna@maxindia.com