Max Bupa wins the ‘IT Leadership Award’ at the Asia Insurance Technology Awards 2014

Max Bupa wins the ‘IT Leadership Award’ at the Asia Insurance Technology Awards 2014

·         Recognized for effective implementation of business process automation platform significantly reducing service turn-around time

·      Third recognition in a year for technology expertise

New Delhi, November 24, 2014: Max Bupa Health Insurance has been conferred with the ‘IT Leadership Award’ at the Asia Insurance Technology Awards 2014. The company has received this coveted recognition for the effective implementation of its business process automation platform that has significantly reduced customer service turn-around time and operating costs. The awards were presented at the third edition of Asia Insurance CIO Technology Summit held in Singapore last week. This is Max Bupa’s third recognition in the year for its technology prowess and excellence.

 

Offering exceptional customer service by rapidly adapting to the evolving consumer needs has been Max Bupa’s focus since the time of inception. The company is committed to providing a seamless and personalized customer experience through advanced technological implementation of smart and hassle free processes.

 

Max Bupa has made significant investment in its technology capabilities, including in-house development and support teams to ensure agility and responsiveness for changing business needs. These solutions enhance customer experience through improved interactions and reduced customer response timelines.

 

Manasije Mishra, CEO, Max Bupa, said, “As committed health partners to our customers, it is our constant endeavour to offer them best in class health insurance products coupled with an exceptional customer service. We are committed to investing in technologies and solutions that enable a seamless customer experience. It is an honour to be recognised for our technological proficiency at such a coveted platform.”

 

Somesh Chandra, Director – Customer Service, Operations, Technology & Chief Quality Officer at Max Bupa added, “At Max Bupa, we keep pace with the technological advancements by making continuous investments to ensure competitive advantage. Successful implementation of the business automation platform has significantly helped us improve agility while addressing customer needs, at the same time also helping us cut down operation costs. The award is a testimony for our commitment to customers and serving them well.”

 

The Asia Insurance Technology Awards recognize excellence and innovation in the use of technology within the insurance industry in the Asia Pacific Region. The awards were presented by research and consulting firm, Celent and Asia Insurance Review, a premier and comprehensive magazine addressing the information needs of insurance practitioners in Asia.

 

Earlier this year, Max Bupa was also conferred with the Model Insurer Asia of the Year 2014 by the analyst firm Celent for usage of advanced technology in insurance. Max Bupa was also recognised for its ‘Technology Maturity’ by India Insurance Awards 2014 for focused utilization of technology to deliver the best in class service to its customers.

 

Note to the editors:

About Max Bupa Health Insurance

Max Bupa Health Insurance is a, 74:26, joint venture between Max India Limited, a multi-business corporate with expertise in life insurance and health care and Bupa Global, a leading international healthcare provider with 65 years of healthcare knowledge. Max Bupa brings together a combination of BupaGlobal’s health insurance expertise and customer service expertise with Max India’s understanding and experience of the Indian health and insurance sectors. Max Bupa offers quality health insurance services through a dedicated team of over 1300 people and its network of 25 offices across 16 cities – Delhi, Mumbai, Hyderabad, Chennai, Bangalore, Pune, Ludhiana, Chandigarh, Jaipur, Surat, Kochi, Kolkata, Patna, Goa, Jodhpur, Ludhiana and Gurgaon. Max Bupa offers individual and family oriented health insurance policies for Indians across all age groups.

 

Strong Network of 3500 hospitals

Max Bupa Health Insurance has a direct working relationship with a network of over 3500 top quality hospitals and healthcare providers and at the same time the company plans to extend. Max Bupa services customers directly without third party involvement. For more details about the company and a list of all our network hospitals please visit www.maxbupa.com.

 

Max India’s Q2FY15 Consolidated operating revenue increases 15% to Rs 2483 Cr, PBT up 26% to Rs 117 Cr.

Financial Highlights

  • Max India’s Q2FY15 EBITDA up 21% at Rs 184 Cr
  • Max India proposes a dividend of 200% amounting to Rs 107 Cr
  • Max Life’s Individual new business premium (APE) for Q2 grows 5% to Rs. 436 Cr, in line with the private industry growth of 5%
  • Max Healthcare(MHC) sees growth of 24% in operating profit to Rs 435 cr in Q2FY15
  • LHC’s stake equalization in MHC leads to an inflow of Rs 383 cr to Max India
  • Max Bupa outperforms private life insurers; market share grows 21% over previous year
Below is a summary of the consolidated financials of Max India
Max India Quarter ended Sept 2014 Quarter ended Sept 2013 Change
Operating Revenue Rs 2483 Cr. Rs 2158 Cr. 15%
EBIDTA Rs 184 Cr. Rs 152 Cr. 21%
PBT Rs 117 Cr. Rs 93 Cr. 26%

Press statement:

New Delhi, 12 November 2014: Max India Ltd., one of India’s leading multi-business corporates,today announced its second quarter results of FY15. The Company reported a 47% increase in its Q2 FY15 consolidated revenue to Rs 3,291 Cr, over same quarter, previous fiscal. Operating revenue increased by 15% to Rs 2,483 and EBITDA rose by 21% to Rs 184 Cr for the same period. Profit Before Tax (PBT) rose 26%, to Rs. 117 Cr.

The key contributing factors to the company’s strong performance has been MLIC’s shareholder’s profits increasing by 21% to 165 Cr and Max Healthcare’s cash profit growth by 180% to Rs 22 Cr.

Key results highlights of Max India’s subsidiaries

Max Life Insurance, a 71% subsidiary of Max India, continued to outperform the industry by posting an impressive individual new business premium (APE) growth of 5%, to Rs 436 Cr vs Q2 FY14. The Gross Premium (GWP) of the Company grew 15% to Rs. 1937 crore and Assets Under Management (AUM) were up 29% to Rs. 28,038 crore.

Max Healthcare is a 46%* equal joint venture of Max India with LHC reported a growth of 24% in net revenue to Rs 435 Cr, and 44% growth in EBIDTA, to Rs. 45 Cr. It’s cash profit also grew by 180% to Rs 22 Cr. Life Healthcare completed its stake equalization with Max India, in Max Healthcare in the current quarter, at an Enterprise Value of Rs 3,650 Cr

Max Bupa Health Insurance, a 74% subsidiary of Max India posted, a growth of 21% in Gross Written Premium to Rs 86 crore. It’s average premium realization increased to 23% to Rs 6,452.

Antara Senior Living, a 100% subsidiary of Max India, serving the high potential Senior Living industry, continues to generate considerable media and public interest and witnessed encouraging sales momentum for its maiden senior living community being built at Dehradun

Max Speciality Films (MSF), a subsidiary of Max India since 1 April 2014, saw a 25% increase in EBIDTA to Rs 20 Cr in Q2FY15

About Max India

The Max India Group is a multi-business corporate, driven by the spirit of enterprise and focused on people and service oriented businesses. The Company is headquartered in New Delhi, India. Max India is in the ‘Businesses of Life’ with its vision to be one of India’s most admired corporates for service excellence – in what we do, how we do it and the positive impact we have on society and our stakeholders. It ‘Protects Life’ through its Life Insurance subsidiary Max Life, a joint venture between Max India and Mitsui Sumitomo Insurance, Japan; ‘Cares for Life’ through its Healthcare company, Max Healthcare, a joint venture between Max India and Life Healthcare, South Africa; ‘Enhances Life’ through its Health Insurance company, Max Bupa Health Insurance, a joint venture between Max India and Bupa Finance Plc., UK; ‘Rejuvenates Life’ through its Senior Living business Antara, a fully owned subsidiary of Max India and ‘Improves Life’ through its Clinical Research business, Max Neeman, a fully owned subsidiary of Max India. The Group also continues its interest in manufacture of Speciality Products for the packaging industry through its fully owned subsidiary Max Speciality Films.

The Group’s businesses have built commanding presence in their respective sector, through a total customer base of nearly 7.5 million, over 300 offices spread across India and a people strength of over 70,000 persons. Max India remains committed to excellence in Corporate Governance and recognizes that in today’s world, it is an important driver for building all round excellence, attracting high-quality talent and intelligent capital. The Group and its companies are Shareholder steered, Board governed and Executive managed. The Board thoroughly evaluates business performance on nine strategic levers – enhancing business performance, investing in people and organisational development, creating efficiency in capital management, adopting an integrated enterprise-wide approach, investing sensibly in new growth opportunities, maintaining the highest standards of governance, continuously improving service quality, developing a distinct corporate brand and effectively managing risk.

The flagship company Max India Limited is a widely held public limited company, listed on the BSE & the NSE. Analjit Singh, Founder & Chairman, is the lead shareholder in Max India with around 40.5% holding. Other leading shareholders in the company include some of world’s leading Institutional Investors, such as Goldman Sachs, International Finance Corporation, Washington (IFC), and Temasek Holdings.

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
E-mail: nthakur@maxindia.com

Anisha Rakyan

Manager-Brand & Communications
Max India Limited
Max House, Okhla – III, New Delhi-110 020
Tele # 2693 3610 Extn. 240, Cell # +91 9811024077
E-mail:arakyan@maxindia.com

Connect with Max India on social media:
Mobile: +91 9811024077
E-mail:arakyan@maxindia.com

Life Healthcare completes its stake equalization in Max Healthcare at an Enterprise Value of Rs 3650 Cr

LHC pays Rs. 766 Cr in an all cash deal at Rs 67.50 per share
MHC valued at industry leading multiple of 32 times FY14 EBITDA translating to an Equity Value of Rs. 2,884 Cr
Stake equalisation is in line with original joint venture agreement between the two partners
MHC to utilize funds for its 3rd wave of growth and to retire debt
IFC to also subscribe to additional equity at the same valuation to maintain existing stake

New Delhi, 10th November 2014: Life Healthcare (LHC), a USD 2 billion South African healthcare major, who had announced its intent of increasing its stake in Max Healthcare on July 22, 2014, has today completed the transaction by investing Rs. 766 crore in Max Healthcare (MHC), one of India’s leading private healthcare providers. LHC has paid Rs. 67.5 per share, to equalize its stake in MHC, in an all cash transaction which puts the enterprise value of MHC at Rs. 3,650 crore and its Equity value at Rs. 2,884 Cr.

Earlier, in January 2012, Life Healthcare had invested Rs 50.24 per share, translating to Rs 516.5 Cr, to acquire a 26% stake in Max Healthcare. The current transaction has led to equalization of stake of both joint venture partners as envisaged in their original JV agreement.

Post transaction, both JV partners will have equal representation on the MHC Board. The brand name of Max Healthcare will remain unchanged.

IFC, Washington, an existing investor in MHC will also subscribe to additional equity of MHC by infusing Rs 31 crore to maintain their 7.5% stake in an expanded capital base at the same valuation.

Max India is one of India’s leading multi business corporates with interests in Life Insurance, Healthcare, Health Insurance and Senior Living. Since its inception almost three decades ago, it has had an experience of managing successful joint venture partnership due to its philosophy of open and transparent relationships always managed in the spirit of equal ownership.

Speaking on the development, Mr Rahul Khosla, Managing Director, Max India and Chairman, Max Healthcare, said, “Max India group has a successful history of partnership and as envisaged, Max India and Life Healthcare’s joint venture has evolved into a mutually beneficial partnership with a clear meeting of minds on critical decisions. LHC’s considerable experience in managing a large and widespread network of hospitals will be extremely beneficial for MHC as it prepares itself for the third wave of growth. Both the joint venture partners are committed to expand and grow the company rapidly.”

LHC has invested Rs. 383 Cr directly in MHC by subscribing to fresh equity at Rs. 67.50 per share. It has also acquired 13.3% of existing stake in the Company from Max India at Rs. 67.50 per share for Rs. 383 Cr, to achieve an equal shareholding as that of its JV partner Max India.

Speaking at the occasion, Mr Mohit Talwar, Dy Managing Director, Max India, who has been instrumental in completing the transaction said, “The investment in Max Healthcare provides LHC a stronger platform to participate in the high growth Indian private healthcare space. Additionally, IFC has expressed its intention to buy additional equity in MHC to maintain its stake of 7.5%, thereby demonstrating its faith in MHC and the Indian healthcare space. We have multiple growth opportunities lined up, including expansion of our flagship super- speciality hospitals in Delhi. A portion of the proceeds will also be used to retire some debt which will further improve the financial performance.”

Max Healthcare operates 12 hospitals in North India, with a focus on high end tertiary and quaternary care. It undertook an exponential phase of organic expansion a year ago, by launching four new hospitals in Delhi-NCR and North India to nearly double its capacity to almost 2000 beds. The company’s revenue in FY 14 was Rs. 1,407 crore, a growth of 22% YoY. Its EBITDA in the same period grew by 59% YoY, to Rs. 113 crore.

The Max India Group is a leading Indian multi-business corporate with a commanding presence in the Life Insurance, Healthcare and Health insurance sectors. In the financial year 2014, the Group recorded a consolidated turnover of Rs 117 billion. It has a total customer base of over 7.5 million, nearly 300 offices spread across India and employee strength of around 17,000 as on 31st March 2014. Max India Limited is a widely held company, listed on the BSE and the NSE. Its founder sponsor Analjit Singh holds 40.5% stake in the company. Other shareholders include some of world’s best Institutional Investors such as Goldman Sachs, Temasek, IFC (Washington), Fidelity, New York Life.

Life Healthcare is the second largest private hospital operators in South Africa. It currently owns and operates 63 facilities with 8322 beds in a comprehensive geographic spread over seven South African provinces and Botswana. It is also a leading provider of acute rehabilitation and mental health services in the country.

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

Garima Sharma Nijhawan

Text100
Cell: 98991752759899175275
E-mail : Garima.sharma@text100.co.in

Anisha Rakyan

Manager-Brand & Communications
Max India Limited
Max House, Okhla – III, New Delhi-110 020
Tele # 2693 3610 Extn. 240, Cell # +91 9811024077+91 9811024077
E-mail:arakyan@maxindia.com

Walking makes people happier, healthier and restoreswork life balance: Max Bupa Walk for Health Survey 2014

Key findings:

  • 83% people across age groups experience positive lifestyle changes, post walking
  • 1 out of every 2 walkers in Delhi and 1 out of every 3 walkersin Mumbai, prefer walking over driving short distances
  • Young India loves walking; walks more frequently than middle and older age groups
  • Mumbai walks for a longer duration than Delhi on a daily basis
  • Delhiites prefer weekend walks, Mumbaiites walks similar distance on weekdays and weekends
  • Men and Women like to multitask while walking; check mails, chat online or use apps while walking

Delhi/Mumbai, October 29, 2014: Walking regularly helps people restore their work life balance, makes them calmer, happier and more positive towards life, reveals Max Bupa Walk for Health Survey 2014, a first of its kind study of nearly 1000 walkers in Delhi and Mumbai.

According to the survey, 83% walkers in Delhi and Mumbai experience positive lifestyle changes post walking. 47% walkers in Delhi and 43% walkers in Mumbai feel they have become calmer. 36% walkers in Delhi and 26% walkers in Mumbai say that their work life balance has improved post walking, as they have started leaving office on time,to walk. 41% people in Delhi and 43 % people in Mumbai also feel that their sleeping habits have improved as a result of walking. Also, 35% walkers in Delhi and 38% walkers in Mumbai experienced improvement in their self-esteem and confidence. 70% patients suffering from serious heart, respiratory, obesity and bone or joint related ailments, also experienced improvement in their physical, mental and emotional health, after walking. 91% patients suffering from bone or joint related issues, 81% obese patients, 77% cardio patients and 76% asthma patients reported that they feel happier, active, energetic and more positive, after regular walks.

The survey reiterates the multiple health benefits of a simple exercise like walking that Max Bupa has taken upon itself to drive across the country through its first of its kind health initiative, Max Bupa Walk for Health. The initiative aims to encourage people to integrate walking into their daily schedule. Buoyed by the participation of more than 40,000 people in the two editions of Max Bupa Walk for Health 2012 and 2013, the third edition of Max Bupa Walk for Health is scheduled for November 9 this year in Delhi and Mumbai.

A significant number of regular walkers say that that they have started avoiding junk food (60%), started waking up early (51%) and have become more inclined towards a healthier lifestyle than before.1 out of every 2 regular walkers in Delhi and 1 out of every 3 regular walkers in Mumbaiprefer walking over driving short distances. The incidence of walking instead of driving shorterdistancesis also high among cardio (47%) and obese patients (35%).53% patients who walk regularlyexperienced decrease in stress and 41% said it helped improve their blood pressure levels. Weight loss is also one of the positive after effects of walking, visible within six months in most patients. On an average, patients reported losing more than 4 kg through regular walking. Cardio and Obesity patients reported an average weight loss of 6 kg and 5 kg respectively.

Manasije Mishra, Chief Executive Officer, Max Bupa said, “The findings of the Max Bupa Walk for Health Survey 2014 reinforce the numerous physical and psychological benefits of walking, including better health, positive lifestyle changes, improvement in eating and sleeping patterns, among many others. It has emerged from the survey that walking is a super pill, prescribed by 96% doctors to people across age groups, including patients suffering from chronic ailments like heart diseases, obesity and asthma. The Max Bupa Walk for Health initiative, now in its third season, is our endeavour to encourage people to walk regularly for a healthier and more successful life. ”

Pointing at city wise walking trends, the survey revealed that while Delhi walks more on weekends Mumbai walks the same distance on weekdays and weekends. However, Mumbai walks longer (45 minutes) than Delhi (34 minutes) at one go. 8 out of 10 people in the 21-30 years age groups Walk for Health on a daily basis, seven days a week. However, those in the 31-45 age group prefers walking six times a week and those in who in the 45 years and above people prefer walking only 5 times a week. More than one third (34%) of walkers in the younger age group, walk after lunch and one fourth of them (24%) opt for walking on way back home. Those in the middle age group prefer walking in the morning or on way to work. Almost 5 out of 10 walkers above the age of 45 years old prefer to walk in the evening or post dinner. However, doctors recommend morning walks over evening walks. 83% doctors recommend early morning walks, as againstonly 8% doctors who prescribe evening walks.

“The survey shows that companionship makes walking more enjoyable and presence of a companion is a motivator for people across age groups to walk regularly. Over 56% people in Delhi and 50% people in Mumbai prefer to walk with their families. Over 50% males and females also enjoy walks in company of their family members. That’s why this year we are encouraging people to participate in Max Bupa Walk for Health with their family and loved ones,” added Anika Agarwal, Head-Marketing, MaxBupa.

Interestingly, the survey also revealed how technology motivates different age groupsand genders to walk more. People in the older age group are more disciplined and focused while walking, however those in the middle and younger age groupslike to multitask, engage on social networking sites or apps while walking. 45% of middle age group walkers listen to music, 41% check mails and 40% talk on the phone. 41% men plan important activities while walking, 39% men prefer to socialize with other walkers and family, while 33% women either listen to music or simply check mails while walking. Social networking sites and messaging apps like facebook and whatsapp are also popular with men and women in the younger age groups, with 23% admitting to their usage while walking.

It has emerged from the survey that every 4 out of 5 walkers suffering from serious chronic ailments in Delhi and Mumbai have health insurance policies. Almost 90% of people in the younger age group had insured their health, followed by the middle age group at 82% and the older age group lagging behind at 71%.

Note to the editor:

About Max Bupa Walk for Health Survey 2014

The Max Bupa Walk for Health Survey 2014 is a first of its kind study on walking behavior of people in Delhi and Mumbai. The research has been conducted by Nielsen among nearly 1000 respondents from the age group 21 years to 60 years and above. The respondents are primarily walkers, also suffering from one or more chronic ailments. The walking benefits were validated via 75 doctors and specialists in Delhi and Mumbai.

Max Bupa invites Families to Walk for Health on November 9

Key findings:

  • Third edition of Max Bupa Walk for Health to be held in Delhi and Mumbai
  • Aim to mobilise 15000 families and 5000 children to participate in the initiative

Delhi/Mumbai, September 29, 2014:Continuing with the commitment to help people lead healthier and more successful lives, Max Bupa Health Insurance today announced the launch of third edition of its flagship event, Max Bupa Walk for Health. The first of its kind health initiative has been successfully mobilising thousands of Indians to incorporate more walking into their daily routine, will be held in Delhi and Mumbai this year on November 9. Initiated in 2012, the previous two editions received an enthusiastic response from over 40,000 participants across India.

Over the last two years, the initiative has garnered support from a number of celebrities, politicians, health and fitness enthusiasts, social activists and sports personalitieslike Sania Mirza, Sonam Kapoor Anupam Kher, Neha Dhupia, Anurag Kashyap,Kunal Kapoor, Shobha De, Dino Morea, Smriti Irani among others. Also a host of leading brands like Fitness First, Cafe Coffee Day, Yakult among others have been associated with the annual initiative.

The last edition of Max Bupa Walk for Health saw wide participation by families. 54% of participants in Delhi and 47% of their Mumbai counterparts chose to walk with a partner or in a group someone, reflecting the underlying preference of people to walk with their loved ones. The trend was common across different age groups. Seeing the initiative’s growing popularity among families, the focus ofMax Bupa Walk for Health 2014 will be to sustain and increase participation from families with the objective of encouraging them to walk together for their overall wellbeing.

Talking about the third edition of Max Bupa Walk for Health, Manasije Mishra, CEO, Max Bupa said, “As a committed health partner to our customers and their families, our purpose is to help them live healthier and more successful lives. Through Max Bupa Walk for Health, we aim to drive greater awareness about the innumerable health benefits of walking among the general public. According to our research, walking is emerging as a preferred family exercise in India, with over 50% of people choosing to walk with their family, for better health and well-being or just to bond and connect with their loved ones. However, due to long work hours and daily commute, 60% of the people in metros are not able to walk often. Our aim is to remind families about the multiple health benefits of walking and encourage them to take out time to do what they enjoy – walk regularly with their loved ones.”

“This year our ambition is to mobilise 15, 000 people to Walk for Health with their families. As we want to drive walking as a habit among the younger generation, we also aim to encourage 5, 000 children to participate in the initiative and adopt walking in long term,” added Manasije.

Max Bupa Walk for Health 2014 will hold a plethora of entertainment and fitness activities for the participants.The event will also see popular cartoon characters,large communities, schools, colleges and corporate participating in large groups. Like last year, there will be two categories for participants –five kilometre walkfor adults and avid walkers’ and two kilometre walk for senior citizens and children.

www.walkforhealth.in is a dedicated website on the initiative that has been created for participants to register online with their friends and family and also get access to useful tips on walking. Participants can also register free of cost at wwwbookmyshow.com or on Max Bupa’s facebook page.

Note to the editors:

About Max Bupa Health Insurance

Max Bupa Health Insurance is a, 74:26, joint venture between Max India Limited, a multi-business corporate with expertise in life insurance and health care and Bupa Global, a leading international healthcare provider with 65 years of healthcare knowledge. Max Bupa brings together a combination of Bupa Global’s health insurance expertise and customer service expertise with Max India’s understanding and experience of the Indian health and insurance sectors. Max Bupa offers quality health insurance services through a dedicated team of over 1300 people and its network of 21 offices across 13 cities – Delhi, Mumbai, Hyderabad, Chennai, Bangalore, Pune, Ludhiana, Chandigarh, Jaipur, Surat, Kochi, Kolkata and Patna. Max Bupa offers individual and family oriented health insurance policies for Indians across all age groups.

Strong Network of 3500 hospitals

Max Bupa Health Insurance has a direct working relationship with a network of over 3500 top quality hospitals and healthcare providers and at the same time the company plans to extend. Max Bupa services customers directly without third party involvement. For more details about the company and a list of all our network hospitals please visit www.maxbupa.com.

Max India’s Q1FY15 Consolidated PBT up 85% to Rs 77 Cr.

Financial Highlights

  • Max India’s Q1FY15 EBITDA up 48% at Rs 142 Cr and PBT up 85% at Rs 77 Cr over Q1FY14
  • Max Life’s Individual new business premium (APE) for Q1 grows 22% to Rs.357 Cr, outpacing the private industry growth of 14%
  • Max Healthcare’s (MHC) gross revenue increases 31% in Q1FY15 to Rs 416 Cr
  • LHC to equalize its stake in MHC with Max India at an enterprise value of Rs 3650 Cr, at a multiple of 31 times FY14 EBIDTA
  • Max Bupa outperforms private health insurers. Market share increases by 60 bps, premium grows by 23% over previous fiscal year.
Below is a summary of the consolidated financials of Max India
  Quarter ended June 2014 Quarter ended June 2013 Change
Operating Revenue Rs 1974 Cr. Rs 1722 Cr. 15%
EBIDTA Rs 142 Cr. Rs 97 Cr. 48%
PBT Rs 77 Cr. Rs 42 Cr. 85%

Press statement:

New Delhi, 13 April 2014: Max India Ltd., one of India’s leading multi-business corporate,today announced their first quarter results of FY15. The Company reported a 15%increase in Operating Revenue, over previous fiscal year to Rs 1974 Cr while the corresponding rise in PBT for the period was 85% to Rs 77 Cr.

The key highlight of the quarter was the proposed stake equalization in Max Healthcare (MHC), the healthcare subsidiary of the group, by the USD 2 Bn South African healthcare major Life Healthcare, at an enterprise value of Rs 3650 Cr. MHC was valued at an industry leading multiple of 31 times FY14 EBITDA translating to an Equity Value of Rs. 2,884 Cr. The deal was in line with the original joint venture agreement between the two partners inked in 2012. With this stake equalization, Life Healthcare will accelerate transfer of its expertise and best practices in areas such as ‘informatics’, ‘Cost Management’ and HR Practices. This is mutually beneficial partnership with a clear meeting of minds on critical decisions such as business development, growth strategies, talent management and driving performance to achieve the highest standards of medical and service excellence. As MHC prepares itself for its third wave of growth it will stand to benefit immensely from LHC’s considerable experience in managing a large and widespread network of hospitals.

Key results highlights of Max India’s subsidiaries

Max Life Insurance, a 71% subsidiary of Max India, continued to outperform the industry, leading the Group’s growth charge by posting an impressive individual new business premium growth of 22%, to Rs 357 Cr over Q1 FY14. Max Life Insurance further increased its market share to 12.3%, an increase of 74 bps amongst private life insurers and maintained its rank as the fourth largest private life insurer. The Gross Written Premium of the Company grew 10% to Rs. 1,458 crore and Assets Under Management (AUM) up 25% to Rs. 26,697crore.

Max Healthcare, a 66% subsidiary of Max India, reported growth of 31% in Gross revenue to Rs 416 Cr, and 136% growth in EBIDTA, to Rs. 40 Cr. Max Healthcare also reported cash profit of Rs 19 Cr

Max Bupa Health Insurance, a 74% subsidiary of Max India Max Bupa Health Insurance posted a growth of 23% in Gross Written Premium to Rs 73 crore. while private health insurers grew by 3%. The company also underwent a significant change in its operating model with a new organization structure, closed B2B channel and merged Third Party Distribution (TPD) with Bancassurance.

Antara Senior Living, a 100% subsidiary of Max India, serving the high potential Senior Living industry, continues to generate considerable media and public interest and witnessed encouraging sales momentum for its maiden senior living community being built at Dehradun

Max Speciality Films (MSF), a division of Max India till last fiscal, and now a subsidiary of Max India since 1 April 2014, saw improvement in margin and revenues. It recorded a 20% growth in revenue over previous fiscal year to Rs 190 Cr and a 53% growth in EBIDTA over previous fiscal year to Rs. 18 Cr for the quarter

About Max India

The Max India Group is a multi-business corporate, driven by the spirit of enterprise and focused on people and service oriented businesses. The Company is headquartered in New Delhi, India. Max India is in the ‘Businesses of Life’ with its vision to be one of India’s most admired corporates for service excellence – in what we do, how we do it and the positive impact we have on society and our stakeholders. It ‘Protects Life’ through its Life Insurance subsidiary Max Life, a joint venture between Max India and Mitsui Sumitomo Insurance, Japan; ‘Cares for Life’ through its Healthcare company, Max Healthcare, a joint venture between Max India and Life Healthcare, South Africa; ‘Enhances Life’ through its Health Insurance company, Max Bupa Health Insurance, a joint venture between Max India and Bupa Finance Plc., UK; ‘Rejuvenates Life’ through its Senior Living business Antara, a fully owned subsidiary of Max India and ‘Improves Life’ through its Clinical Research business, Max Neeman, a fully owned subsidiary of Max India. The Group also continues its interest in manufacture of Speciality Products for the packaging industry through its fully owned subsidiary Max Speciality Films.

The Group’s businesses have built commanding presence in their respective sector, through a total customer base of nearly 7.5 million, over 300 offices spread across India and a people strength of over 70,000 persons. Max India remains committed to excellence in Corporate Governance and recognizes that in today’s world, it is an important driver for building all round excellence, attracting high-quality talent and intelligent capital. The Group and its companies are Shareholder steered, Board governed and Executive managed. The Board thoroughly evaluates business performance on nine strategic levers – enhancing business performance, investing in people and organisational development, creating efficiency in capital management, adopting an integrated enterprise-wide approach, investing sensibly in new growth opportunities, maintaining the highest standards of governance, continuously improving service quality, developing a distinct corporate brand and effectively managing risk.

The flagship company Max India Limited is a widely held public limited company, listed on the BSE & the NSE. Analjit Singh, Founder & Chairman, is the lead shareholder in Max India with around 40% holding. Other leading shareholders in the company include some of world’s leading Institutional Investors, such as Goldman Sachs, International Finance Corporation, Washington (IFC), and Temasek Holdings.

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

Anisha Rakyan

Manager-Brand & Communications
Max India Limited
Max House, Okhla – III, New Delhi-110 020
Tele # 2693 3610 Extn. 240, Cell # +91 9811024077+91 9811024077
E-mail:arakyan@maxindia.com

Connect with Max India on social media:

LinkedIn: Max India Ltd I Twitter: @maxindialtd
Facebook: maxindialimited I YouTube: channelmaxindia

Max Super Speciality Hospital, Saket, New Delhi conducts CME on ‘Diabesity- Diabetes and Obesity’ in Agra

Dr Pradeep Chowbey, Renowned Bariatric Surgeon from Delhi speaks about ‘Surgical Management of Diabesity’

Agra, 2nd August, 2014: Dr Pradeep Chowbey, a renowned name in the field of bariatric surgery in Delhi today delivered a lecture on ‘Surgical Management of Diabesity’ at a CME organized in Agra by Max Super Speciality Hospital, Saket. Dr Manish Baijal, Sr. Consultant- Minimal Access, Metabolic and Bariatric Surgery delivered a lecture on ‘Obesity and Metabolic Syndrome’ and Dr Vikas Ahluwalia, Director- Metabolic and Bariatric Medicine at Max Super Speciality Hospital, Saket delivered on ‘Diabetes and Obesity’. Doctors from the Bariatric Surgery team of Max Hospital, Saket are holding regular OPDs at Dr Nawal Kishore Hospital, Agra on every last Sunday of the month from 11 AM to 1 PM.

The first step towards preventing or controlling Obesity is to understand what it means and how is it identified. Obesity is a medical condition in which excess body fat is accumulated to the extent that it may have an adverse effect on health. BMI (Body Mass Index) is a measure of weight in relation to height and is used to define levels of excess weight which help to determine whether bariatric intervention is required. If your Body Mass Index (BMI) is between 25 and 29.9 kg/m2 you are considered overweight. You are considered obese, if your BMI is 30 kg/m2 or above. Clinically, severe obesity describes a BMI of over 37.5 kg/m2 or BMI of 32.5 kg/m2 in combination with co – morbid conditions like type II Diabetes, hypertension and sleep apnea.

There is no single method to treat obesity. A combination of diet, exercise, lifestyle modifications and behaviour modification may be required and in case of severe obesity, Bariatric (weight loss) Surgery is now days strongly recommended.

Dr. Pradeep Chowbey, Joint MD, Chief- Surgery and Allied Surgical Specialities and Director- Minimal Access, Metabolic and Bariatric Surgery at Max Super Speciality Hospital, Saket says, “Bariatric Surgery is the only solution for sustained weight loss in morbidly obese individuals. Many associated diseases like type II Diabetes, high blood pressure and sleep apnea can also get corrected after these weight loss procedures. Improved longevity is noted after Bariatric procedures. Earlier bariatric surgical procedures were done with large incision on body but now days with the help of laparoscopy (key hole) surgical techniques there is less tissue damage, quick post operative recovery and shorter hospital stay.”

Dr. Chowbey explains that the basic principle of Bariatric Surgery is to restrict the food intake and decrease the absorption of food in stomach and intestine. There are four types of surgeries that are offered:
  • Adjustable gastric banding (AGB)
  • Roux-en-Y gastric bypass (RYGB)
  • Vertical sleeve gastrectomy (VSG)
  • Mini gastric by pass (Sleeve by pass )

Weight loss surgical procedures help to shed about 60 – 80% of excess weight in 18 – 24 months post operatively. Bariatric surgery works by changing the anatomy of your gastro intestinal track (stomach and digestive system) or by causing different physiological changes in your body that change your energy balance and fat metabolism and you feel more energetic and fitter after weight loss surgery.

Dr. Chowbey further added, “Obesity is a metabolic disease and obese individuals are more prone to type II diabetes, hypertension, osteoarthritis, obstructive sleep apnea and high cholesterol levels. Obesity is one of the major cause of mortality in our country.”

Obesity has reached epidemic proportions in India in 21st century with morbid obesity affecting 5% of the country’s population. Currently there are about 2 – 2.5 million people suffering from Obesity in India in all age groups. There is a sharp rise in the number of obese adolescents due to unhealthy sedentary lifestyle and excessive consumption of processed food.

Notes to the editor- About Max Healthcare:

Max Healthcare is the country’s leading comprehensive provider of standardized, seamless and international-class healthcare services. It is committed to the highest standards of medical and service excellence, patient care, scientific and medical education.

Max Healthcare has 12 facilities in North India, offering services in over 30 medical disciplines. Of this 9 facilities are located in Delhi & NCR and the others in Mohali, Bathinda and Dehradun. The Max network includes state-of-the-art tertiary care hospitals in Saket, Patparganj, Shalimar Bagh, Mohali, Bathinda and Dehradun, secondary care hospitals at Gurgaon, Pitampura and Noida and an out-patient facility and a speciality centre at Panchsheel Park. The 12 hospitals together have over 1900 beds.

The tertiary care hospitals at Saket, Patparganj and Shalimar Bagh are centres of excellence for Cardiac Care, Minimal Access, Metabolic & Bariatric Surgery, Cancer Care, Orthopaedics& Joint Replacement, Neurosciences, Paediatrics, Obstetrics &Gynaecology, Aesthetic & Reconstructive Plastic Surgery and Internal Medicine. In addition, they offer services in the disciplines of Urology, ENT, Gastroenterelogy, Nephrology, Dermatology, Mental Health & Behavioural Sciences amongst others.

The Super Speciality Hospitals in Mohali and Bathinda are under PPP arrangement with the Government of Punjab and have tertiary care facilities in cancer care, cardiac care, neurology, orthopedics and trauma. The recently launched Super Speciality Hospital in Dehradun is the latest addition to the Max Healthcare network and offers comprehensive tertiary, secondary and primary care services.

Max Healthcare is a pioneer in the introduction of technology to provide patients with the highest standards in medical care. Examples are the first Brain Suite in Asia at Max Saket and the Electronic Health Record System in use across Max Hospitals. The hospitals are equipped with the advanced medical equipment like state-of-the-art Cath labs, OTs with HEPA, Nuclear Medicine, Gama Camera, LINAC for Radiotherapy and MRI and CT scan machines.

Max Healthcare has over 2100 leading doctors, 9300 employees and has treated over 19,00,000 patients from over 80 countries.

For additional information, please contact:

Jolly Ahuja

+91 9871026333+91 9871026333

Swati Verma

+91 8826430008+91 8826430008

Max Bupa introduces the most comprehensive and flexible family health insurance plan in India

Launches the new version of flagship product Heartbeat Health Insurance with a host of industry first benefits for customers
  • Worldwidecashless treatment for critical illnesses and emergency medical evacuation through Bupa International network
  • Wide flexibility in sum insured for individuals, nuclear and extended families ranging from Rs 2 lakh to Rs 1 crore
  • Coverage for pre-existing diseases with industry’s lowest waiting period of 2 years,downfrom 4 years
  • Enhanced family coverage, coverage upto 14 relations in a single policy
  • Option to enhance upto 50% sum assured on renewal,irrespective of claim history

Delhi, July 30, 2014:Max Bupa has introduced the new edition of its flagship product Heartbeat Health Insurance Plan, offering individuals, nuclear and extended families the most comprehensive health insurance plan. The plandistinguishes itself from other plans available in the market with the introduction of manynew features like international cashless treatment for 9 major critical illnesses,worldwide emergencymedical evacuation,flexibility in sum assured ranging from Rs 2 lakh to 1 crore,reduced waiting period of 24 months on pre-existing diseases for sum insured of Rs. 5 lakh and above, coverage for upto 14 relationships under a single policy and option for loyal customers to enhance sum insured on renewal, irrespective of claim history.

In continuation of its endeavor to address the health needs of senior citizens, Max Bupa has introduced the option of tapering co-pay, another industry first featurethat provides customers above 60, a comprehensive coverage, with reducing and subsequently zero co-payment on continuous renewal. Max Bupa was the first insurer to offer any age enrollment and lifelong renewal with the launch of Heartbeat in 2010, enabling senior citizens to access quality healthcare, who were until then excluded from the ambit of health insurance, owing to high risk associated with the segment.

Talking about Max Bupa’s focus on providing quality family health insurance offerings to customers, Manasije Mishra, Chief Executive Officer, Max Bupa said “Our flagship product Heartbeat Health Insurance Plan is already the most preferred family health cover in the market. The new edition of Heartbeat has been designed to address the evolving health needs of our customers. Our research indicates that customers are looking for best quality healthcare for their families, in India and abroad. The new Heartbeat Health Insurance Plan offers exclusive benefits to families like international treatment, reduced waiting periods and comprehensive coverage upto Rs 1 Crore.”

One of the most significant features of Heartbeat Health Insurance Plan is that Max Bupa customers can now avail cashless treatment abroad for nine major critical illnesses including Cancer, Heart Attack, Organ Transplant, Stroke, Brain Surgery among others.Max Bupa customers can access of Bupa International’s network of quality hospitals across 190 countries. Also, in case of a medical emergency outside India, Bupa International will provide medical evacuation assistance to the customers.

The increasing incidence of lifestyle and critical illnesses, escalating healthcare costsdue to inflation andadvancement in technology and treatment protocols,has created a demand for higher health insurance covers. Heartbeat Health Insurance Plan will now offer customers the option to choose a sum assured ranging from Rs 2 lakhs upto 1 crore.

Max Bupa will nowgive families an option to cover upto 14 family relationshipsin a single policy under Heartbeat Family First Family First, a product design exclusive to Max Bupa, offers an additional floater amountthat can be utilized by any member of the extended family, along with a fixed sum assured to each individual under a single policy. It is one of the most cost effective family health insurance product in the market.

In another customer centric move, through Max BupaHealth Relationship Loyalty initiative, customers are given a choice to opt for an additional 10% sum insured on renewal that can accumulate up to 50% of sum insured on continous renewal,or avail 10% of premium as loyalty pointsfor a host of health and lifestyle products and services.Unlike the conventional industry practice of rewarding customers based of their claim history, Max Bupa rewards customer loyalty irrespective of whether they have claimed or not.

In the new edition of Heartbeat, Max Bupa will cover pre –existing diseases after two years, against general industry practice of four years, to enable customers to use their health cover when they need it.

In addition to comprehensive family products, Max Bupa providesseamless and personalized customer service, through a host of service benefits like cashless approval within one hour of submitting all information, 24×7 customer helpline for claims related queriesand instant access to personal information on Max Bupa website including claim history, health information and health profile.

Note to the editors:

About Max Bupa Health Insurance

Max Bupa Health Insurance is a, 74:26, joint venture between Max India Limited, a multi-business corporate with expertise in life insurance and health care and Bupa, a leading international healthcare provider with 65 years of healthcare knowledge. Max Bupa brings together a combination of Bupa’s global health insurance expertise and customer service expertise with Max India’s understanding and experience of the Indian health and insurance sectors. Max Bupa offers quality health insurance services through a dedicated team of over 1300 people and its network of 21 offices across 13 cities – Delhi, Mumbai, Hyderabad, Chennai, Bangalore, Pune, Ludhiana, Chandigarh, Jaipur, Surat, Kochi, Kolkata and Patna. Max Bupa offers individual and family oriented health insurance policies for Indians across all age groups.

Strong Network of 3500 hospitals

Max Bupa Health Insurance has a direct working relationship with a network of over 3500 top quality hospitals and healthcare providers and at the same time the company plans to extend. Max Bupa services customers directly without third party involvement. For more details about the company and a list of all our network hospitals please visit www.maxbupa.com.

About Max India

The Max India Group is a multi-business corporate, driven by the spirit of enterprise and focused on people and service oriented businesses. The Company is headquartered in New Delhi, India. Max India is in the ‘Businesses of Life’ with its vision to be one of India’s most admired corporates for service excellence – in what we do, how we do it and the positive impact we have on society and our stakeholders. It ‘Protects Life’ through its Life Insurance subsidiary Max Life, a joint [1]venture between Max India and Mitsui Sumitomo Insurance, Japan; ‘Cares for Life’ through its Healthcare company, Max Healthcare, a joint venture between Max India and Life Healthcare, South Africa; ‘Enhances Life’ throughits Health Insurance company, Max Bupa Health Insurance, a joint venture between Max India and Bupa Finance Plc., UK; ‘Rejuvenates Life’ through its Senior Living business Antara, a fully owned subsidiary of Max India and ‘Improves Life’ through its Clinical Research business, Max Neeman, a fully owned subsidiary of Max India. The Group also continues its interest in manufacture of Speciality Products for the packaging industry through its fully owned subsidiary Max Speciality Films

The Group’s businesses have built commanding presence in their respective sector, through a total customer base of nearly 7 million, over 300 offices spread across India and a people strength of over 70,000 persons. Max India remains committed to excellence in Corporate Governance and recognizes that in today’s world, it is an important driver for building all round excellence, attracting high-quality talent and intelligent capital. The Group and its companies are Shareholder steered, Board governed and Executive managed. The Board thoroughly evaluates business performance on nine strategic levers – enhancing business performance, investing in people and organisational development, creating efficiency in capital management, adopting an integrated enterprise-wide approach, investing sensibly in new growth opportunities, maintaining the highest standards of governance, continuously improving service quality, developing a distinct corporate brand and effectively managing risk.

The flagship company Max India Limited is a widely held public limited company, listed on the BSE & the NSE. Analjit Singh, Founder & Chairman, is the lead shareholder in Max India with around 40% holding. Other leading shareholders in the company include some of world’s leading Institutional Investors, such as Goldman Sachs, International Finance Corporation, Washington (IFC), and Temasek Holdings.

About Bupa: 65 years of Health and Care

Bupa’s purpose is longer, healthier, happier lives. A leading international healthcare group, Bupa serves over 22 million customers in more than 190 countries. The company offers personal and company financed health insurance and medical subscription products, runs hospitals, provides workplace health services, home healthcare, health assessments and long-term condition management services. Bupa is also a major international provider of nursing and residential care for elderly people. Its services also include primary care and diagnostic centres, and dental centres.

With no shareholders, Bupa invests its profits to provide more and better healthcare and fulfil its purpose. The company employs more than 70,000 people, principally in the UK, Australia, Spain, Poland and New Zealand, as well as in Saudi Arabia, Hong Kong, India, Thailand, China, Chile and the USA.

The company began operations in 1947 in the UK, when 17 provident associations joined together to form Bupa with the purpose of “preventing, relieving and curing sickness and ill health of every kind”. Its history goes back even earlier in Australia where its business was founded in the 1930s to provide a solution for people who could not afford doctors’ fees.

Max Multi-Speciality Hospital – Affordable High Quality Healthcare, Now in Greater Noida

Honourable Health and Family Welfare Minister, UP, Shri Ahmed Hasan inaugurates the Secondary Care Hospital in Greater Noida

Greater Noida, 25 July 2014: Max Healthcare Institute Limited, a premier healthcare provider, today announced the inauguration of the 114 bedded ‘Max Multi Speciality Hospital’ in Greater Noida. Max Hospitals are renowned for high quality clinical care, excellence in service quality, offering the latest in medical technologies and other infrastructure. In addition to this new facility in Greater Noida, there are 12 Max Hospitals spread over North India across Delhi-NCR, Punjab and Uttarakhand.

The hospital, sponsored by Bhai Mohan Singh Foundation was inaugurated by the Honourable Health and Family Welfare Minister, UP, Shri Ahmed Hasan in the presence of Mr. Analjit Singh, Founder and Chairman, Max India Limited, Mr. Rahul Khosla, Managing Director, Max India Ltd and Mr. Rajit Mehta, Deputy Managing Director, Max Healthcare.

Key features:

Infrastructure: 114bedded Hospital including 17 OPD rooms, CT Scan, 2 OT’s, 2 Delivery Rooms, 18 beds of ICU, 95 beds of patient ward (predominantly economy beds) and Laboratory services.

Key Specialities: General and laparoscopic Surgery, Obstetrics and Gynecology, Medicine, Pediatrics with NICU, Orthopedics and trauma, ENT, Medical ICU, Dental, and Ophthalmology.

Key Technology: 0Ts with HEPA, NICU, Radiology

Emergency Care: Max Emergency Services and 30 minutes Max Ambulance Services

Mr. Analjit Singh, Founder and Chairman of Max India Limited and Chairman of Bhai Mohan Singh Foundation, said, “This is a special occasion for me personally, as we dedicate this new hospital, which is sponsored by Bhai Mohan Singh Foundation. My father always had an ardent desire to establish a hospital that was based on the values of Sevabhav, Excellence and Credibility. This hospital is in consonance with his vision and will deliver the highest standards of medical & service excellence and patient care”.

Max Multi Speciality Hospital is expected to provide healthcare cover to a population of over 5 lacs from the adjoining villages and housing societies of Greater Noida. The hospital will offer comprehensive secondary level services in medical and surgical specialities like Laparoscopy & General Surgery, Obstetrics and Gynaecology, Internal Medicine, Paediatrics with NICU, Orthopaedics, Emergency and Trauma Care backed by other support services. The hospital aims to offer international quality healthcare using a multi-disciplinary approach to clinical diagnosis, interventions and treatment outcomes.

Speaking on the launch, Mr. Rahul Khosla, Managing Director, Max India, said “Max Healthcare is the largest healthcare provider in Delhi-NCR with an extensive network of 9 hospitals in this region. We believe that our strategy of dense presence in the region allows us to offer best clinical talent and easy access to healthcare services to our patients. The new hospital at Greater Noida will strengthen this value proposition for our customers. Built over and area of approx 65000 sq ft, this Super Speciality hospital will provide best clinical care at a relatively affordable price point. ”

According to a report by the United Nations, 75% of the health infrastructure in India is concentrated in the cities where only 27% of India’s population lives. The 716 million people who live in smaller cities and towns or the rural areas do not have access to critical medical facilities. Max Multi Speciality Hospital, Greater Noida has been set up as a community hospital for the residents of Greater Noida and adjoining villages. It has been designed taking into consideration the expected growth in population which is likely to rise to 12 lacs by 2021. Currently the residents have to commute a distance of approximately 25 km along the Noida-Greater Noida Expressway in order to avail the nearest quality healthcare services. With the launch of Max Multi Speciality Hospital, they can access advanced medical services in their vicinity itself.

While explaining the importance of Max Multi-Speciality Hospital, Greater Noida in filling a vital healthcare gap, Mr. Rajit Mehta, Deputy Managing Director, Max Healthcare said, “There has been a burgeoning demand for quality healthcare services in North India with affordability being one of the biggest challenges. With the launch of Max Multi Speciality Hospital in Greater Noida, we intend to bridge this gap by making quality healthcare accessible to smaller cities and towns. This multi-speciality Hospital brings together specialist doctors, medical technology and high quality infrastructure – at a more affordable cost. We are confident that Max Multi Speciality Hospital, Greater Noida will contribute significantly to fulfilling the healthcare needs of the residents.”

About Max Healthcare:

Max Healthcare is the country’s leading comprehensive provider of standardized, seamless and international-class healthcare services. It is committed to the highest standards of medical and service excellence, patient care, scientific and medical education.

Max Healthcare has 12 facilities in North India, offering services in over 30 medical disciplines. Of this 9 facilities are located in Delhi & NCR and the others in Mohali, Bathinda and Dehradun. The Max network includes state-of-the-art tertiary care hospitals in Saket, Patparganj, Shalimar Bagh, Mohali, Bathinda and Dehradun, secondary care hospitals at Gurgaon, Pitampura and Noida and an out-patient facility and a speciality centre at Panchsheel Park. The 12 hospitals together have over 1900 beds.

The tertiary care hospitals at Saket, Patparganj and Shalimar Bagh are centres of excellence for Cardiac Care, Minimal Access, Metabolic & Bariatric Surgery, Cancer Care, Orthopaedics & Joint Replacement, Neurosciences, Paediatrics, Obstetrics & Gynaecology, Aesthetic & Reconstructive Plastic Surgery and Internal Medicine. In addition, they offer services in the disciplines of Urology, ENT, Gastroenterology, Nephrology, Dermatology, Mental Health & Behavioural Sciences amongst others.

The Super Speciality Hospitals in Mohali and Bathinda are under PPP arrangement with the Government of Punjab and have tertiary care facilities in cancer care, cardiac care, neurology, orthopaedics and trauma. The recently launched Super Speciality Hospital in Dehradun is the latest addition to the Max Healthcare network and offers comprehensive tertiary, secondary and primary care services.

Max Healthcare is a pioneer in the introduction of technology to provide patients with the highest standards in medical care. Examples are the first Brain Suite in Asia at Max Saket and the Electronic Health Record System in use across Max Hospitals. The hospitals are equipped with the advanced medical equipment like state-of-the-art Cath labs, OTs with HEPA, Nuclear Medicine, Gama Camera, LINAC for Radiotherapy and MRI and CT scan machines.

Max Healthcare has over 2,100 leading doctors with 9,300 employees and has treated over 19,00,000 patients from over 80 countries.

For additional information, please contact:

Jolly Ahuja

+91 9871026333+91 9871026333

Swati Verma

+91 8826430008+91 8826430008

Life Healthcare to equalize its stake in Max Healthcare at an Enterprise Value of Rs 3650 Cr

Honourable Health and Family Welfare Minister, UP, Shri Ahmed Hasan inaugurates the Secondary Care Hospital in Greater Noida

Life Healthcare to equalize its stake in Max Healthcare at an Enterprise Value of Rs 3650 Cr
LHC will invest upto an additional Rs. 794 Cr in an all cash deal at Rs 67.50 per share
MHC valued at industry leading multiple of 31 times FY14 EBITDA translating to an Equity Value of Rs. 2,884 Cr
Stake equalisation is in line with original joint venture agreement between the two partners
MHC to utilize funds for its 3rd wave of growth and to retire debt

New Delhi, 22 July 2014 Life Healthcare (LHC), a USD 2 Bn South African healthcare major, is set to invest upto an additional Rs. 794 Cr in Max Healthcare (MHC), one of India’s leading private healthcare providers. LHC will pay Rs. 67.50 per share to equalize its stake with Max India in MHC, in an all cash transaction which puts the enterprise value of MHC at Rs 3,650/- Cr and its Equity value at Rs. 2,884 Cr.

In January 2012, Life Healthcare had invested Rs 50.24 per share, translating to Rs 516.5 Cr, to acquire a 26% stake in Max Healthcare. The current transaction will lead to equalization of stake of both joint venture partners as envisaged in their original JV agreement.

Post transaction, both JV partners will have equal representation on the MHC Board. The brand name of Max Healthcare will remain unchanged.

Max India is one of India’s leading multi business corporates with interests in Life Insurance, Healthcare and Health Insurance. Since its inception almost three decades ago, it has had an experience of managing successful joint venture partnership due to its philosophy of open and transparent relationships always managed in the spirit of equal ownership.

Speaking on the development, Mr Rahul Khosla, Managing Director, Max India and Chairman, Max Healthcare, said, “Max India and Life Healthcare’s joint venture has evolved into a mutually beneficial partnership with a clear meeting of minds on critical decisions such as business development, growth strategies, talent management and driving performance to achieve the highest standards of medical and service excellence. As MHC prepares itself for its third wave of growth it will stand to benefit immensely from LHC’s considerable experience in managing a large and widespread network of hospitals. Both the joint venture partners are committed to expand and grow the company rapidly.”

Commenting on the transaction, Andre Meyer, CEO, Life Healthcare, said, “India is a very important market for us. Our relationship with Max had been very constructive. Both Max and LHC were very keen on growing our partnership and the stake equalization is an important step in this direction.”

LHC will invest upto Rs. 397 Cr directly in MHC by subscribing to fresh equity at Rs. 67.50 per share. It will also acquire upto 13.3% of existing stake in the Company from Max India at Rs. 67.50 per share for upto Rs. 383 Cr, to achieve an equal shareholding as that of its JV partner Max India.

IFC, Washington currently holds 7.5% stake in MHC and has the option of either maintaining its 7.5% stake, by converting a portion of its preference shares to equity, or exercising a proportionate tag along right with Max India so as to dilute its shareholding to 5.4 %. The actual amount invested by Life Healthcare (and thus the amount received by Max Healthcare and Max India) will vary depending on IFC, Washington’s decision.

Speaking at the occasion, Mr Mohit Talwar, Dy Managing Director, Max India, who led this deal said, “The transaction would provide LHC a stronger platform to participate in the high growth Indian private healthcare space. We have multiple growth opportunities lined up, including expansion of our flagship super-speciality hospitals in Delhi. A portion of the proceeds will also be used to retire some debt which will further improve the financial performance.”

Max Healthcare operates 12 hospitals in North India, with a focus on high end tertiary and quaternary care. It undertook an exponential phase of organic expansion a year ago, by launching four new hospitals in Delhi-NCR and North India to nearly double its capacity to almost 2000 beds. The company’s revenue in FY 14 was Rs. 1,407 crore, a growth of 22% YoY. Its EBITDA in the same period grew by 59% YoY, to Rs. 113 crore.

The Boards of Max India, Life Healthcare and Max Healthcare approved the transaction earlier today. The transaction is subject to execution of definitive agreements and receipt of requisite statutory approvals.

The Max India Group is a leading Indian multi-business corporate with a commanding presence in the Life Insurance, Healthcare and Health insurance sectors. In the financial year 2014, the Group recorded a consolidated turnover of Rs 117 billion. It has a total customer base of over 7.5 million, nearly 300 offices spread across India and people strength of around 17,000 as on 31st March 2014. Max India Limited is a widely held company, listed on the BSE and the NSE. Its founder sponsor Analjit Singh holds 40.5% stake in the company. Other shareholders include some of world’s best Institutional Investors such as Goldman Sachs, Temasek, IFC (Washington), Fidelity, New York Life.

Life Healthcare is the second largest private hospital operators in South Africa. It currently owns and operates 63 facilities with 8322 beds in a comprehensive geographic spread over seven South African provinces and Botswana. It is also a leading provider of acute rehabilitation and mental health services in the country.

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

Garima Sharma Nijhawan

Text100
Cell: 98991752759899175275
E-mail : Garima.sharma@text100.co.in

Anisha Rakyan

Manager-Brand & Communications
Max India Limited
Max House, Okhla – III, New Delhi-110 020
Tele # 2693 3610 Extn. 240, Cell # +91 9811024077+91 9811024077
E-mail:arakyan@maxindia.com

Max Super Speciality Hospital, Bathinda awarded the coveted NABH Accreditation

First Super Speciality Hospital in Malwa region to receive NABH Accreditation

Bathinda, 15th July, 2014: Max Super Speciality Hospital, Bathinda- leading healthcare service provider of the region was awarded the prestigious NABH (National Accreditation Board for Hospitals & Healthcare Providers) Accreditation, making it the first super specialty hospital in Malwa region to be awarded this coveted certification. NABH is regarded as the highest national recognition for quality patient care and safety and Max Hospital is proud to be in the league of premier hospitals recognized for its focus on providing quality services to its patients.

Speaking on the occasion, Mr Haresh Dahyalal Trivedi, General Manager– Operations, Max Super Speciality Hospital, Bathinda stated, “Patients will be the biggest beneficiaries of this accreditation as getting NABH accreditation, fully endorses the fact that the hospital has a 360 degree approach towards patient care which entails ethical & safe practices at par with the National Standards; that patients interests are kept foremost and patient and family’s rights are respected. Max Super Specialty Hospital, Bathinda has won the trust of several lakhs of patients since its inception. It is a matter of great honor to be the first super specialty hospital in the entire Malwa region to achieve this successful accreditation. The esteemed certification is a milestone in our journey of progress and reaffirms our ability to deliver world-class integrated healthcare services to our patients. NABH Standards are known to strengthen the patient and community’s confidence in the quality and safety of care, treatment and services provided at the hospital. We are delighted with this respected recognition and will continue to live up to the standards set by NABH.”

Dr. Manoj Majhi, Medical Advisor at Max Super Speciality Hospital, Bathinda said, “Max Super Speciality Hospital, Bathinda began its journey in September 2011 and within almost 3 years of its operations, it has become the leading choice of the residents of Bathinda for their healthcare needs. The NABH accreditation is a recognition of our commitment to provide service and medical excellence with an all round focus on patient care. We underwent almost a year of rigorous screening process to receive the coveted accreditation.”

NABH is a constituent board of Quality Council of India, set up to establish and operate accreditation and allied programs for healthcare organizations. The board is structured to cater to much desired needs of the consumers and to set benchmarks for the progress of health industry. The 636 standards of NABH form the check points for the accreditation and have been developed to cover all aspects of patient care, with particular emphasis on patient rights, safety, infection control, and clinical protocols. In order to receive NABH Accreditation, the hospital must adhere to all the standards mentioned in the Guidelines issued by NABH and must maintain these standards over time.

Over the last three years Max Super Speciality Hospital, Bathinda has earned the reputation of being the most trusted hospital for its scientific work with humane touch. Since its commencement, doctors from Max Hospital have touched upon the lives of numerous patients. Based on globally accepted practices with world-class ‘man & machine’, this facility of 220 bedded Hospital is designed to deliver the highest level of professional expertise and care. With a team of approximately 60 expert doctors and more than 520 total staff Max Hospital caters to the healthcare needs of the residents of not only Bathinda, but also the neighboring towns of Faridkot, Mansa, Barnala, Sirsa, Ganganagar, Dabwali, Hisar, Hanumangarh, Malout, Mukatsar, Kotkapura, Abohar and Faridkot The hospital has access to some of the most advanced technologies in medical care which are amongst the first in the region.

Notes to the editor

About Max Healthcare:

Max Healthcare is the country’s leading comprehensive provider of standardized, seamless and international-class healthcare services. It is committed to the highest standards of medical and service excellence, patient care, scientific and medical education.

Max Healthcare has 12 facilities in North India, offering services in over 30 medical disciplines. Of this 9 facilities are located in Delhi & NCR and the others in Mohali, Bathinda and Dehradun. The Max network includes state-of-the-art tertiary care hospitals in Saket, Patparganj, Shalimar Bagh, Mohali, Bathinda and Bathinda, secondary care hospitals at Gurgaon, Pitampura and Noida and an out-patient facility and a speciality centre at Panchsheel Park. The 12 hospitals together have over 1900 beds.

The tertiary care hospitals at Saket, Patparganj and Shalimar Bagh are centres of excellence for Cardiac Care, Minimal Access, Metabolic & Bariatric Surgery, Cancer Care, Orthopaedics& Joint Replacement, Neurosciences, Paediatrics, Obstetrics &Gynaecology, Aesthetic & Reconstructive Plastic Surgery and Internal Medicine. In addition, they offer services in the disciplines of Urology, ENT, Gastroenterelogy, Nephrology, Dermatology, Mental Health & Behavioural Sciences amongst others.

The Super Speciality Hospitals in Mohali and Bathinda are under PPP arrangement with the Government of Punjab and have tertiary care facilities in cancer care, cardiac care, neurology, orthopedics and trauma. The recently launched Super Speciality Hospital in Dehradun is the latest addition to the Max Healthcare network and offers comprehensive tertiary, secondary and primary care services.

Max Healthcare is a pioneer in the introduction of technology to provide patients with the highest standards in medical care. Examples are the first Brain Suite in Asia at Max Saket and the Electronic Health Record System in use across Max Hospitals. The hospitals are equipped with the advanced medical equipment like state-of-the-art Cath labs, OTs with HEPA, Nuclear Medicine, Gama Camera, LINAC for Radiotherapy and MRI and CT scan machines.

Max Healthcare has over 2100 leading doctors, 9300 employees and has treated over 19,00,000 patients from over 80 countries.

About NABH

NABH is a constituent board of Quality Council of India, set up to establish and operate accreditation and allied programs for healthcare organizations. The board is structured to cater to much desired needs of the consumers and to set benchmarks for the progress of health industry. The board while being supported by all stakeholders including industry, consumers, government has full functional autonomy in its operation.

Participation in NABH accreditation program is on a voluntary basis. Healthcare organization applies to participate in a program run by NABH. The health care organization signs a general Accreditation Agreement stating rights and obligations of all parties concerned. The assessment process is performed using standards and assessment procedures as per policy and procedures made beforehand. These can be seen on NABH website. NABH on its website publishes the accreditation status of the healthcare organizations that participate in its program as applicant or accredited.

NABH is an Institutional Member of the International Society for Quality in Health Care (lSQua). NABH 3rd edition Hospital standards are accredited by ISQua.

The award of NABH Accreditation to the healthcare organization means that the organization ensures:

  • Commitment to create a culture of quality, patient safety, efficiency and accountability towards patient care.
  • Establishment of Protocols and Policies as per National / International Standards for patient care, medication management, consent process, patient safety, clinical outcomes, medical records, infection control and staffing.
  • Patients are treated with respect, dignity and courtesy at all times.
  • Patients are involved in care planning and decision making.
  • Patients are being treated by qualified and trained staff.
  • Feedback from patients is sought and complaints (if any) are addressed.
  • Transparency in billing and availability of tariff list.
  • Continuous monitoring of its services for improvement.
  • Commitment to prevent adverse events that may occur.

For further information, please contact:

Jolly Ahuja

+91 9871026333+91 9871026333

Amit Abhilash

+91 9810805619+91 9810805619

Max Bupa wins the coveted technology award at the fourth edition of India Insurance Awards

  • Awarded for seamless customer service delivery through technological innovation
  • Second recognition in a year for technology expertise

New Delhi, June 26, 2014: Max Bupa has been conferred with top honor for technology maturity at the fourth edition of India Insurance awards. Max Bupa was recognized as the company with the most effective and mature technology infrastructure in the health insurance industry. Max Bupa has received the award ‘Technology Maturity’ for its focused utilization of technology to deliver the best in class service experience to its customers. The awards were presented at a special ceremony attended by the industry leaders in Mumbai

Max Bupa has been an exemplar in providing seamless and personalized customer experience through advanced technological implementation. Max Bupa had made significant investment in its technology capabilities, including in-house development and support teams to ensure agility and responsiveness for changing business needs. The management has a clear roadmap to ensure that the technology implementation maintains its competitive edge and addresses the evolving customer needs. The core policy administration system at Max Bupa was inherited from its parent company BUPA and evolved over 18 years basis the market experience of Bupa across countries.

On receiving the award, Manasije Mishra, Chief Executive, Max Bupa said “We are delighted to be recognized for our continued investment in technology and infrastructure to provide a seamless experience to our customers. Role of technology will be pivotal to the industry’s growth and as the industry continues to evolve, Indian Insurance awards recognize early innovators that lead the way. For us, customer is always at the core and, we will continue to invest in offerings and services that will benefit them.

The Indian Insurance Awards have been conceptualised to honour performance, growth and excellence in the Indian insurance industry, and raise the benchmark year on year for industry participants.

The jury comprised of an esteemed panel from the Indian Insurance industry including S B Mathur, Secretary General, Life Insurance Council, R Chandrasekaran, Secretary General, General Insurance Council and Vepa Kamesam, Managing Director, Institute of Insurance and Risk Management. The jury conducted detailed research and assessment on market performance of the qualifying companies.

Earlier this year, Max Bupa was also conferred with the Model Insurer Asia of the Year 2014 by the analyst firm Celent for usage of advanced technology in insurance.

About Max Bupa Health Insurance

Max Bupa Health Insurance is a, 74:26, joint venture between Max India Limited, a multi-business corporate with expertise in life insurance and health care and Bupa, a leading international healthcare provider with 65 years of healthcare knowledge. Max Bupa brings together a combination of Bupa’s global health insurance expertise and customer service expertise with Max India’s understanding and experience of the Indian health and insurance sectors. Max Bupa offers quality health insurance services through a dedicated team of over 1000 people and its network of 21 offices across 13 cities – Delhi, Mumbai, Hyderabad, Chennai, Bangalore, Pune, Ludhiana, Chandigarh, Jaipur, Surat, Kochi, Kolkata and Patna. Max Bupa offers individual and family oriented health insurance policies for Indians across all age groups.

Strong Network of 3500 hospitals

Max Bupa Health Insurance has a direct working relationship with a network of over 3500 top quality hospitals and healthcare providers and at the same time the company plans to extend. Max Bupa services customers directly without third party involvement. For more details about the company and a list of all our network hospitals please visit www.maxbupa.com.

About Max India

Max India Group is a multi-business corporate, driven by the spirit of enterprise and focused on people and service oriented businesses. The Company is headquartered in New Delhi, India. Max India is in the ‘Business of Life’ with its vision is to be one of India’s most admired corporates for Service Excellence. It ‘Protects Life’ through its Life Insurance subsidiary Max Life, a joint venture between Max India and Mutsui Sumitomo; ‘Cares for Life’ through its Healthcare company, Max Healthcare, a joint venture between Max India and Life Healthcare, South Africa; ‘Enhances Life’ through its Health Insurance company, Max Bupa Health Insurance, a joint venture between Max India and Bupa Finance Plc., UK; ‘Rejuvenates Life’ through its Senior Living business Antara, a fully owned subsidiary of Max India and ‘Improves Life’ through its Clinical Research business, Max Neeman, a fully owned subsidiary of Max India. The Group also continues its interest in manufacture of Specialty Products for the packaging industry through its strategic business unit Max Specialty Films.

The flagship company Max India Limited is a widely held public listed entity, with the owner sponsors, led by Analjit Singh holding over 39% stake. Its other shareholders include some of world’s best Institutional Investors such as, Goldman Sachs, International Finance Corporation, Washington (IFC) and Temasek Holdings.

About Bupa: 65 years of Health and Care

Bupa’s purpose is to help people lead longer, healthier, happier lives. Established in 1947, it has over 11.3 million customers in more than 190 countries. Employing over 52,000 people, Bupa has operations around the world, principally in the UK, Australia, Spain, New Zealand and the USA, as well as Hong Kong, Thailand, Saudi Arabia, India, China and across Latin America. A leading international healthcare group, Bupa offers personal and company health insurance, runs care homes for older people and hospitals, and provides workplace health services, health assessments and chronic disease management services, including health coaching, and home healthcare. With no shareholders, Bupa invests its profits to provide more and better healthcare and is committed to making quality, patient-centred, affordable healthcare more accessible in the areas of wellness, chronic disease management and ageing

Max Healthcare and GE Healthcare Join Hands to Advance Cancer Care in India through Research & Co-creation of multi-faceted cancer care solutions

  • Partners to set up First of a kind Centre of Excellence for Cancer Care in India
  • To set up Training Institute for bridging talent shortage and advancing the oncology care skill set

NEW DELHI, INDIA, MARCH 26, 2014: Max Healthcare, a leading healthcare services provider and GE Healthcare, a unit of General Electric Company (NYSE: GE), today announced a strategic partnership to advance the standard of cancer care in India through collaborative research and co-creation of futuristic, multifaceted cancer management solutions.

An MoU was signed to this effect by Dr. Ajay Bakshi, MD & CEO, Max Healthcare and Ms. Terri Bresenham, President & CEO, GE Healthcare South Asia, in the presence of Mr Analjit Singh, Chairman, Max India Group; Mr John Dineen, President & CEO, GE Healthcare; Mr. Rahul Khosla, Managing Director, Max India Ltd.; Mr Banmali Agrawala, President & CEO, GE South Asia; and Dr Harit Chaturvedi, Chairman Oncology, Max Healthcare

Speaking at the occasion, Dr Ajay Bakshi, MD & CEO, Max Healthcare said “There is an alarming increase in the incidence of cancer in India. Inadequate screening and a severe shortage of oncologists and other trained staff further compound the problem. With advanced healthcare infrastructure and the availability of one of the largest pools of clinical talent in the country, comprising of 45 oncologists and 220 trained oncology support staff, Max Healthcare is uniquely positioned to partner with GE Healthcare to set new standards for cancer care by innovating on clinical protocols, technology and systems.”

“At GE, we envision a day when Cancer is no longer a deadly disease. When the disease is as complex and multi-faceted as cancer, solutions need to be equally multi-faceted and even more integrated, combining medical imaging, molecular imaging, healthcare IT and cellular technologies. With technology advances, we can see diseases as we have never seen before and provide most personalized treatment eliminating non-responding treatment protocols. Through this partnership with Max Healthcare, we aim to understand the fingerprint of specific cancers in India and co-develop disruptive solutions” said John Dineen, President & CEO, GE Healthcare.

As one of the most relevant global cancer diagnostic companies, GE is devoting an even greater share of R&D budget (US $ 1 Billion) to continue developing disruptive oncology solutions. Combining Max Healthcare’s expertise and experience in tackling cancer presents a fantastic opportunity to advance technology solutions, processes and protocols to set a new standard of cancer care as well as improving access to quality cancer care for more people. The partnership will give emphasis to the following critical areas:

  • Creation of a first of its kind Centre of Excellence for Cancer in India at Max Super Speciality Hospital, Saket, Delhi. The Centre will be equipped with the latest technology solutions like medical imaging, molecular diagnostics, healthcare IT solutions to integrate data, processes etc.
  • Collaborative research on cancer care & co-creation of technology solutions
  • Improved access to quality cancer care through Healthcare IT Solutions (example. cloud/mobile health platforms).
  • Decision Support System like virtual tumor board – to virtually surround a patient with multi-disciplinary expertise. Oncologists from Max Healthcare network as well as leading experts from around the world will be available to provide best possible personalized treatment course to each patient
  • Development of innovative cancer specific treatment pathways and protocols to make diagnosis and treatment more efficient.
  • Setting up an Oncology Training Institute to advance existing skill set on clinical care and to build a larger pool of talent

Addressing the media, Dr Harit Chaturvedi, Chairman- Oncology, Max Healthcare said, “At Max Cancer Centre, we receive around 10,000 patients every year and the numbers are increasing by the day. With this collaboration with GE Healthcare, we aim to bring together clinical and basic research to find new solutions to cancer. The virtual tumour board will enable experts from different geographies and time zones to review each case of cancer and propose specific solutions for patients.”

The incidence of cancer is sharply rising in India with a prevalence of 3 million and annual new addition of 1.23 million cases.* The mortality rates are very high due to late detection, access and affordability to care. India has highest rates of cervical, gall bladder, oral and pharynx cancers. Breast cancer is the second largest cancers among women in India. As per a GE commissioned study, 70-80% of cancer patients are diagnosed late which renders any form of treatment less effective. The need of the hour is to improve awareness leading to more early diagnosis, improve access to diagnosis and treatment as well as significantly improve the treatment protocols and care pathways to enhance quality of outcome – survival and leading a healthier life.

“Every two minutes India loses three people to Cancer. Two new people are detected with cancer every minute in India. It is a ticking bomb. We can save many of these lives with early detection and precise treatment. The partnership with Max Healthcare reflects our shared commitment in tackling the deadly disease early and with precision” said Terri Bresenham, President & CEO, GE Healthcare South Asia.

“We hope to learn much more about each type of cancer and their cellular behaviour and develop solutions through this collaboration” she added.

Max Healthcare has been working towards addressing the scourge of Cancer. Recently Max Healthcare partnered with the Government of Punjab to organize the world’s largest Cancer Screening Camp across 22 districts of Punjab, helping 20,000 patients. This partnership with GE Heatlhcare is a definitive step in tackling cancer head-on by working together to develop unique, disruptive solutions as well as by improving access to quality care

About Max Healthcare:

Max Healthcare is the country’s leading comprehensive provider of standardized, seamless and international-class healthcare services. It is committed to the highest standards of medical and service excellence, patient care, scientific and medical education.

Max Healthcare has 12 facilities in North India, offering services in over 30 medical disciplines. Of this 9 facilities are located in Delhi & NCR and the others in Mohali, Bathinda and Dehradun. The Max network includes state-of-the-art tertiary care hospitals in Saket, Patparganj, Shalimar Bagh, Mohali, Bathinda and Dehradun, secondary care hospitals at Gurgaon, Pitampura and Noida and an out-patient facility and a speciality centre at Panchsheel Park. The 12 hospitals together have over 1900 beds.

The tertiary care hospitals at Saket, Patparganj and Shalimar Bagh are centres of excellence for Cardiac Care, Minimal Access, Metabolic & Bariatric Surgery, Cancer Care, Orthopaedics & Joint Replacement, Neurosciences, Paediatrics, Obstetrics & Gynaecology, Aesthetic & Reconstructive Plastic Surgery and Internal Medicine. In addition, they offer services in the disciplines of Urology, ENT, Gastroenterelogy, Nephrology, Dermatology, Mental Health & Behavioural Sciences amongst others.

The Super Speciality Hospitals in Mohali and Bathinda are under PPP arrangement with the Government of Punjab and have tertiary care facilities in cancer care, cardiac care, neurology, orthopedics and trauma. The recently launched Super Speciality Hospital in Dehradun is the latest addition to the Max Healthcare network and offers comprehensive tertiary, secondary and primary care services.

Max Healthcare is a pioneer in the introduction of technology to provide patients with the highest standards in medical care. Examples are the first Brain Suite in Asia at Max Saket and the Electronic Health Record System in use across Max Hospitals. The hospitals are equipped with the advanced medical equipment like state-of-the-art Cath labs, OTs with HEPA, Nuclear Medicine, Gama Camera, LINAC for Radiotherapy and MRI and CT scan machines.

Max Healthcare has over 2,100 leading doctors with 9,300 employees and has treated over 19,00,000 patients from over 80 countries.

About GE Healthcare

GE Healthcare provides transformational medical technologies and services to meet the demand for increased access, enhanced quality and more affordable healthcare around the world. GE (NYSE: GE) works on things that matter – great people and technologies taking on tough challenges. From medical imaging, software & IT, patient monitoring and diagnostics to drug discovery, biopharmaceutical manufacturing technologies and performance improvement solutions, GE Healthcare helps medical professionals deliver great healthcare to their patients.

GE Healthcare is at work for a healthier India. We are focusing on some of the toughest healthcare challenges of India – lowering maternal and infant deaths; enable early detection of cancer for early treatment, addressing heart disease the burden etc. We design, develop and manufacture technologies in India for India and the world that will enhance access to quality healthcare at affordable costs to more people.

For our latest news, please visit http://newsroom.gehealthcare.com.

For additional information, please contact:

Jolly Ahuja

Max Healthcare
+91 9871026333+91 9871026333

Swati Verma

+91 8826430008+91 8826430008

98710263339871026333

Manoj V Menon

Communications Leader,
GE Healthcare
Email: manoj.menon@ge.com
T: +91 9845199852+91 9845199852
Twitter: @GEHealthIndia

*Source: Globocan 2008, Globacan 2012, ICMR, GE Studies

Max Speciality Films appoints Jaideep Wadhwa as Chief Executive Officer

17th Feb 2014: Max Specialty Films (MSF), a business division of Max India Ltd, has appointed Jaideep Wadhwa as Chief Executive Officer. Jaideep will focus on profitably growing the business, achieving optimal scale and strengthening key customer relationships. He will report to Rahul Khosla, Managing Director, Max India. Jaideep will succeed Sudhir Mathur who successfully led MSF as Chief Executive Officer for 8 years, steering growth of five times in revenues, over three times in profits and establishing a market share of over 30% in the Indian Speciality Films category.

Sudhir, who retires on March 31, 2014, led MSF to grow domestically and expand in diverse international markets. In FY ’13, MSF exported 30% of its production to South Africa, Middle East and Europe. It has a steady base of blue chip customers with its top 15% clients contributing nearly 70% of its sales. MSF operates at the higher value end of the market. While it has 11% of the installed BOPP capacity in India, it has a disproportionately high market share of 15%. The company has won many recognitions that endorse its innovation and quality orientation, including India’s most coveted packaging award, the India Star Award and the premier international packaging award, the World Star Award. The Company’s environment sensitivity won it the National Energy Conservation Award 2012 from Ministry of Power.

As India grows to become the 5th largest consumer market in the world by 2020, MSF will be a leading player in the speciality packaging film industry. Its current installed capacity is 52,000 tonnes per annum and its turnover for FY ’13 was Rs 713 crore.

Speaking about the appointment, Rahul Khosla, Managing Director of Max India said, “I am delighted to welcome Jaideep to the Max family. His deep yet diverse expertise in specialized manufacturing businesses will be invaluable for Max Speciality Films. His track record of consistent and profitable growth will stand us in good stead for the growth, development and value creation that MSF is set to embark upon.”

Jaideep is a consummate professional with 27 years of experience in leading manufacturing businesses. He has held P&L responsibilities, managed business development, sales as well as manufacturing across India & China during his career. He last held the position of Director, Actis Advisors, Mumbai, intensively engaged in guiding and supporting the management teams at Actis’ investee companies to improve operations and optimize returns. Prior to joining Actis, he was President of Tomkins Plc’s Industrial & Automotive Businesses in India.

Commenting about his latest assignment, Jaideep Wadhwa said, “I look forward to being a part of the Max India family as there is a great alignment of culture and values between us. I believe this opportunity will allow me to build on a strong foundation and further enhance value”

Jaideep started his career with Wadco Tools Ltd. and worked several years at Ingersoll Rand managing various leadership roles in India & China. He last served as Vice President & General Manager, Industrial Technologies, India and Managing Director Ingersoll Rand (India) Ltd.

Jaideep studied at Modern School and graduated from St. Stephens College in New Delhi. He is also an MBA from the Darden Graduate School of Management, Virginia.

About Max India

The Max India Group is a multi-business corporate, driven by the spirit of enterprise and focused on people and service oriented businesses. The Company is headquartered in New Delhi, India. Max India is in the ‘Businesses of Life’ with its vision to be one of India’s most admired corporates for service excellence – in what we do, how we do it and the positive impact we have on society and our stakeholders. It ‘Protects Life’ through its Life Insurance subsidiary Max Life, a joint venture between Max India and Mitsui Sumitomo Insurance, Japan; ‘Cares for Life’ through its Healthcare company, Max Healthcare, a joint venture between Max India and Life Healthcare, South Africa; ‘Enhances Life’ through its Health Insurance company, Max Bupa Health Insurance, a joint venture between Max India and Bupa Finance Plc., UK; ‘Rejuvenates Life’ through its Senior Living business Antara, a fully owned subsidiary of Max India and ‘Improves Life’ through its Clinical Research business, Max Neeman, a fully owned subsidiary of Max India. The Group also continues its interest in manufacture of Speciality Products for the packaging industry through its SBU Max Speciality Films.

The Group’s businesses have built commanding presence in their respective sector, through a total customer base of nearly 7 million, over 300 offices spread across India and a people strength of over 70,000 persons. Max India remains committed to excellence in Corporate Governance and recognizes that in today’s world, it is an important driver for building all round excellence, attracting high-quality talent and intelligent capital. The Group and its companies are Shareholder steered, Board governed and Executive managed. The Board thoroughly evaluates business performance on nine strategic levers – enhancing business performance, investing in people and organisational development, creating efficiency in capital management, adopting an integrated enterprise-wide approach, investing sensibly in new growth opportunities, maintaining the highest standards of governance, continuously improving service quality, developing a distinct corporate brand and effectively managing risk.

The flagship company Max India Limited is a widely held public limited company, listed on the BSE & the NSE. Analjit Singh, Founder & Chairman, is the lead shareholder in Max India with over 39% holding. Other key shareholders in the company include some of world’s leading Institutional Investors, such as Goldman Sachs, International Finance Corporation, Washington (IFC), and Temasek Holdings.

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

Anisha Rakyan

Manager-Brand & Communications
Max India Limited
Max House, Okhla – III, New Delhi-110 020
Tele # 2693 3610 Extn. 240, Cell # +91 9811024077+91 9811024077
E-mail:arakyan@maxindia.com

Max India’s FY14 Consolidated Revenue increases 19%* to Rs 11,683 Cr, PAT up 44% to Rs 209 Cr.

Financial Highlights

  • Max India’s FY 2014 net revenue increases 19%* over previous fiscal to Rs 11,683 Cr
  • Max India announces 90% final dividend taking annual dividend to180% **
  • Max Life reports strong new sales growth of 17% over previous fiscal, outperforming industry de-growth of 3%. The Company’s gross premium increases 10% over previous fiscal to Rs 7279 Cr.
  • Max Healthcare turns cash profitable. Net Revenue increases 22% over previous fiscal to Rs 1407Cr
Below is a summary of the consolidated financials of Max India
ghhgh Quarter ended March 2014 Quarter ended March 2013 Change Year ended March 2014 Year ended March 2013 Change
Revenue Rs 3740 Cr. Rs 2468 Cr. 52% Rs 11683 Cr. Rs 9820 Cr. 19%
EBIDTA Rs 121 Cr. Rs 87 Cr. 39% Rs 506 Cr. Rs 419 Cr. 21%
PBT Rs 62 Cr. Rs 28 Cr. 120% Rs 274 Cr. Rs 197 Cr. 39%
PAT Rs 52 Cr. Rs 29 Cr. 84% Rs 209 Cr. Rs 146 Cr. 44%

Press statement:

New Delhi, 12 February 2014: Max India Ltd., one of India’s leading multi-business corporates,today announced its results for FY 2014. The Company reported a net increase in consolidated revenue in FY 2014, by 19% over the previous fiscal to Rs 11,683 Cr. The rise in EBITDA for the same period was 21% and stood at Rs 506 Cr. Profit After Tax (PAT) rose 44%, to Rs. 209 Cr., on a consolidated basis.

The Q4 FY 2014 figures were equally impressive with consolidated revenue rising 52% to Rs 3740 vs. Q4 FY 2013. Profit After Tax (PAT) rose by 84% to Rs 52 Cr during the same period.

The key contributing factors to the sterling performance of the company have been MLIC’s 10% growth in premium income and Max Healthcare turning cash positive, reporting a 22% increase in net revenue over last fiscal year.

Key highlights of subsidiaries

Max Life, a 71% life insurance subsidiary of Max India, continued to outperform the industry, leading the Group’s growth charge by posting an impressive new sales growth of 17% over the previous fiscal. Its overall revenues increased by 19% to stand at Rs 9633 Cr. The increase in revenue was supported by a 10% growth in Gross Premium during the period. Embedded Value as at the end of the current period is at Rs.3,953 Cr., with operating Return on Embedded Value (RoEV) at 15.6%. The Assets Under Management (AUM) of the Company rose by 21%, during the fiscal year, to Rs 24,716 Cr.

Max Healthcare, a 66% subsidiary of Max India, reported growth of 22% in Gross Revenue to Rs 1407 Cr, and 59% growth in EBIDTA, to Rs. 113 Cr supported by higher average occupancy which increased to 74% this fiscal vs 69% in the previous fiscal despite 12% expansion in operational beds to 1470 from 1300 beds in the last fiscal year.

Max Bupa Health Insurance, a 74% subsidiary of Max India recorded a 49% rise in net revenue in FY14 to stand at Rs 309 Cr. The company strengthened its distribution through four new bancassurance tie-ups with Ratnakar Bank, Standard Chartered Bank, Deustche Bank and Federal Bank.

Antara Senior Living, a 100% subsidiary of Max India serving the high potential Senior Living industry, continued to generate considerable media and public interest and witnessed encouraging sales momentum for its maiden senior living community being built at Dehradun[1]

Max Speciality Films (MSF), a division of Max India till last fiscal, and now a subsidiary of Max India since 1 April 2014, saw stabilization of the industry leading to margin and revenue improvement. This translated to a 33% growth in EBIDTA to Rs. 57 Cr. MSF continues to operate at peak capacity vis-à-vis average industry capacity utilization of around 70%.

Commenting on the Company’s performance, Mr. Rahul Khosla, Managing Director, Max India Ltd. said, “Our Businesses of Life continue to set the pace in their respective industries, while focusing on sustained profitability and growth over key fiscal metrics. The macro environment looks positive with the new government in place. Backed by a high quality leadership team we are well placed for another successful year.

Mr. Mohit Talwar, Deputy Managing Director, Max India Ltd. added, “Our businesses have performed admirably even in challenging business environment. Max Life has outperformed the industry, Max Healthcare has turned cash profitable and we continue to be extremely bullish about the growth prospects of Max Bupa As a Group, we are well positioned for growth in our businesses”

About Max India

The Max India Group is a multi-business corporate, driven by the spirit of enterprise and focused on people and service oriented businesses. The Company is headquartered in New Delhi, India. Max India is in the ‘Businesses of Life’ with its vision to be one of India’s most admired corporates for service excellence – in what we do, how we do it and the positive impact we have on society and our stakeholders. It ‘Protects Life’ through its Life Insurance subsidiary Max Life, a joint [2]venture between Max India and Mitsui Sumitomo Insurance, Japan; ‘Cares for Life’ through its Healthcare company, Max Healthcare, a joint venture between Max India and Life Healthcare, South Africa; ‘Enhances Life’ through its Health Insurance company, Max Bupa Health Insurance, a joint venture between Max India and Bupa Finance Plc., UK; ‘Rejuvenates Life’ through its Senior Living business Antara, a fully owned subsidiary of Max India and ‘Improves Life’ through its Clinical Research business, Max Neeman, a fully owned subsidiary of Max India. The Group also continues its interest in manufacture of Speciality Products for the packaging industry through its fully owned subsidiary Max Speciality Films

The Group’s businesses have built commanding presence in their respective sector, through a total customer base of nearly 7 million, over 300 offices spread across India and a people strength of over 70,000 persons. Max India remains committed to excellence in Corporate Governance and recognizes that in today’s world, it is an important driver for building all round excellence, attracting high-quality talent and intelligent capital. The Group and its companies are Shareholder steered, Board governed and Executive managed. The Board thoroughly evaluates business performance on nine strategic levers – enhancing business performance, investing in people and organisational development, creating efficiency in capital management, adopting an integrated enterprise-wide approach, investing sensibly in new growth opportunities, maintaining the highest standards of governance, continuously improving service quality, developing a distinct corporate brand and effectively managing risk.

The flagship company Max India Limited is a widely held public limited company, listed on the BSE & the NSE. Analjit Singh, Founder & Chairman, is the lead shareholder in Max India with around 40% holding. Other leading shareholders in the company include some of world’s leading Institutional Investors, such as Goldman Sachs, International Finance Corporation, Washington (IFC), and Temasek Holdings.

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

Anisha Rakyan

Manager-Brand & Communications
Max India Limited
Max House, Okhla – III, New Delhi-110 020
Tele # 2693 3610 Extn. 240, Cell # +91 9811024077+91 9811024077
E-mail:arakyan@maxindia.com

Connect with Max India on social media:

LinkedIn: Max India Ltd I Twitter: @maxindialtd
Facebook: maxindialimited I YouTube: channelmaxindia

Standard Chartered Bank enters into a bancassurance tie up with Max Bupa

~ Standard Chartered Bank to offer comprehensive health plans of Max Bupa to its 2 million customers across 99 branches in 42 cities

Mumbai/ New Delhi, Feb 3, 2014: Standard Chartered Bank and Max Bupa today announced their bancassurance Corporate Agency arrangement to provide Max Bupa’s comprehensive health insurance offerings to the diverse customer base of Standard Chartered Bank across the country.

The arrangement comes on the back of IRDA’s guidelines which permits a stand-alone health insurance company to avail the services of Corporate Agents of other Life and / or Non-Life insurance companies to distribute their products in addition to the existing arrangements of the Corporate Agents with one life and one general insurance company. Standard Chartered will distribute Max Bupa’s health insurance products to its customers across its 99 branches spread over 42 cities in India. Max Bupa will work with Standard Chartered Bank to ensure sales training, product support and smooth operational processes in order to offer Max Bupa’s health insurance products to customers seeking a health cover for themselves and their family. This arrangement will reflect the core philosophy of Max Bupa of building unique product proposition around customer needs and Standard Chartered Bank’s philosophy to provide best in class customer experience.

Speaking about the Corporate Agency arrangement with Max Bupa, Sanjeeb Chaudhuri, Regional Head, South Asia & Chief Marketing Officer,Consumer Banking, Standard Chartered Bank, said, “”We are delighted to enter into Corporate Agency arrangement with Max Bupa and believe that the inherent synergies of this relationship will benefit our customers. This arrangement will enable us to further augment the comprehensive range of third party products and services by offering innovative health insurance solutions of Max Bupa. Our endeavour has always been to explore avenues to enhance suit of products and services offered to our customers. We are confident that this will be a mutually beneficial relationship and pave the way for greater access to a wide range of products and services to our customers.”

Talking about Max Bupa’s commitment towards making quality Health Insurance more accessible for customers, Manasije Mishra, CEO, Max Bupa said, “Max Bupa and Standard Chartered Bank reflect the long standing commitment in providing quality product and service to customers. The forging of this relationship is an important milestone for us as bancassurance is an important part of our growth strategy.”

Manasije added, “We want people to live healthier and more successful lives and this will become a reality when people across India use Health Insurance to protect their families’ health. It is our endeavour to continuously innovate and make our products more widely available. This arrangement will meet the mission of helping customers live a healthier and happier life. We are confident that we will be successful in providing the right mix of products to cater to our customers’ diverse health insurance needs.”

The HNI and Personal Banking clients of Standard Chartered Bank will have an access to a rich bouquet of health insurance products from Max Bupa catering to the varied needs of the customers.

The comprehensive product suite will include Max Bupa’s flagship product Heartbeat, one of the most comprehensive offering in the market with exclusive product and service propositions like coverage upto 50 lakhs, 24X7 customer service helpline, coverage for day care procedures, OPD benefit, among others. Health Assurance, a first of its kind three in one assured cash benefit plan from Max Bupa that covers critical illness, personal accident and hospital cash, will also be offered to Standard Chartered customers.

Note to the editor

About Max Bupa Health Insurance

Max Bupa Health Insurance is a, 74:26, joint venture between Max India Limited, a multi-business corporate with expertise in life insurance and health care and Bupa, a leading international healthcare provider with 65 years of healthcare knowledge. Max Bupa brings together a combination of Bupa’s global health insurance expertise and customer service expertise with Max India’s understanding and experience of the Indian health and insurance sectors. Max Bupa offers quality health insurance services through a dedicated team of over 1000 people and its network of 21 offices across 13 cities – Delhi, Mumbai, Hyderabad, Chennai, Bangalore, Pune, Ludhiana, Chandigarh, Jaipur, Surat, Kochi, Kolkata and Patna. Max Bupa offers individual and family oriented health insurance policies for Indians across all age groups.

Strong Network of 3400 hospitals

Max Bupa Health Insurance has a direct working relationship with a network of over 3400 top quality hospitals and healthcare providers and at the same time the company plans to extend. Max Bupa services customers directly without third party involvement. For more details about the company and a list of all our network hospitals please visit www.maxbupa.com.

About Max India

Max India Group is a multi-business corporate, driven by the spirit of enterprise and focused on people and service oriented businesses. The Company is headquartered in New Delhi, India. Max India is in the ‘Business of Life’ with its vision is to be one of India’s most admired corporates for Service Excellence. It ‘Protects Life’ through its Life Insurance subsidiary Max Life, a joint venture between Max India and Mutsui Sumitomo; ‘Cares for Life’ through its Healthcare company, Max Healthcare, a joint venture between Max India and Life Healthcare, South Africa; ‘Enhances Life’ through its Health Insurance company, Max Bupa Health Insurance, a joint venture between Max India and Bupa Finance Plc., UK; ‘Rejuvenates Life’ through its Senior Living business Antara, a fully owned subsidiary of Max India and ‘Improves Life’ through its Clinical Research business, Max Neeman, a fully owned subsidiary of Max India. The Group also continues its interest in manufacture of Specialty Products for the packaging industry through its strategic business unit Max Specialty Films.

The flagship company Max India Limited is a widely held public listed entity, with the owner sponsors, led by Analjit Singh holding over 39% stake. Its other shareholders include some of world’s best Institutional Investors such as, Goldman Sachs, International Finance Corporation, Washington (IFC) and Temasek Holdings.

About Bupa: 65 years of Health and Care

Bupa’s purpose is to help people lead longer, healthier, happier lives. Established in 1947, it has over 11.3 million customers in more than 190 countries. Employing over 52,000 people, Bupa has operations around the world, principally in the UK, Australia, Spain, New Zealand and the USA, as well as Hong Kong, Thailand, Saudi Arabia, India, China and across Latin America. A leading international healthcare group, Bupa offers personal and company health insurance, runs care homes for older people and hospitals, and provides workplace health services, health assessments and chronic disease management services, including health coaching, and home healthcare. With no shareholders, Bupa invests its profits to provide more and better healthcare and is committed to making quality, patient-centred, affordable healthcare more accessible in the areas of wellness, chronic disease management and ageing.

Standard Chartered – leading the way in Asia, Africa and the Middle East

Standard Chartered is a leading international banking group. It has operated for over 150 years in some of the world’s most dynamic markets and earns around 90 per cent of its income and profits in Asia, Africa and the Middle East. This geographic focus and commitment to developing deep relationships with clients and customers has driven the Bank’s growth in recent years. Standard Chartered PLC is listed on the London and Hong Kong stock exchanges as well as the Bombay and National Stock Exchanges in India.

With 1,700 offices in 70 markets, the Group offers exciting and challenging international career opportunities for 88,000 staff. It is committed to building a sustainable business over the long term and is trusted worldwide for upholding high standards of corporate governance, social responsibility, environmental protection and employee diversity. Standard Chartered’s heritage and values are expressed in its brand promise, ‘Here for good’.

For further information please visit www.standardchartered.com. Follow Standard Chartered at www.facebook.com/standardcharteredand on Twitter@StanChart.

Standard Chartered Bank in India

Standard Chartered Bank is India’s largest international bank with 99 branches in 42 cities, serving 40,000+SMEs, over 2,500 key Corporate and Institutional Relationships and approx 2 million retail customers. Key businesses comprise Consumer Banking, including Deposits, Loans, Wealth Management, Private Banking and SME Banking; and Wholesale Banking, which includes Cash Transaction Banking, Treasury, Corporate Finance and Custody Services. For more information, visit www.standardchartered.co.in.

Standard Chartered Bank, India is a licensed Corporate Agent of Max Bupa Health Insurance Company Limited for standalone health Insurance products vide composite license number 1096736.

Max Bupa Health Insurance plans for Standard Chartered Bank customers are underwritten and issued by Max Bupa Health Insurance Company Limited. Claims will be settled by Max Bupa Health Insurance Company Limited as per the terms and conditions of the policy.

For more details or risk factors, terms and conditions, please read the sales brochure carefully (or refer to the policy wordings), before concluding a sale. Please refer policy document for exact terms and conditions and specific details applicable to the Insurance Policy.

Insurance is the subject matter of solicitation.

Max Bupa recognised for its innovative Customer Education Initiative

‘Satya Mythya ki Paathshala’

Awarded Best Client Agency Idea at the Loyalty Awards 2014

New Delhi, Feb 11, 2014: A first of its kind customer education initiative by Max Bupa, Satya Mythya ki Paathshala has been awarded the Best Client Agency Idea at the seventh edition of the Loyalty Awards held in Mumbai recently. This is the first time a health insurance player has been felicitated with this honour. The award recognizes the efforts undertaken by an organisation in the area of customer loyalty to improve customer relationships while building long term profitability.

With the objective to de-mystify health insurance for customers, which is often perceived to be complicated, the initiative launched in 2013, saw two virtual characters Satya and Mythya drive conversations around health insurance in an engaging manner. The initiative is in line with Max Bupa’s belief that health insurance awareness and penetration will be driven by industry’s ability to win customer’s trust.

In a first of its kind effort by an insurer, Max Bupa introduced a unique customer education initiative Satya Mythya ki Paathshala on Facebook and Twitter last year. The initiative launched two virtual characters Satya and Mythya, to drive conversations around health insurance in an engaging manner and de-mystify the common misconceptions about the category. While Mythya propagates common myths prevalent about the category, Satya helps bust them to guide the customer in the right direction.

The penetration of health insurance in India is as low as five to seven percent and as a result, most people don’t know much about health insurance and its benefits. The widespread mistrust about the health insurance industry is also a key barrier to the growth of the sector. Through this initiative, Max Bupa aims to overcome people’s lack of involvement and negative disposition towards health insurance and increase their likelihood to consider buying health insurance. Some of the issues that will be tackled through the initiative include the perception of insurance as a tax saving instrument to doubts on the benefit of buying health insurance at a young age.

Manasije Mishra, Chief Executive Officer, Max Bupa said, “We are delighted to witness such a positive response for Satya Mythya Ki Paathshala by our customers and the industry. Our constant endeavour is to simplify the concept of health insurance and create a greater acceptance for it. Customers must be empowered to make informed decisions.”

“The idea was to narrate a compelling story which gets everyone involved and has a high recall value. We wanted the message execution to be clutter breaking to draw people’s attention towards the category,” added Sevantika Bhandari, Director – Marketing, Max Bupa.

The initiative increased Max Bupa’s engagement metric scores significantly on social media and also added to its follower base. Max Bupa has also used the two mascots for agent and sales training.

The initiative is an ongoing effort and will run through a course of comic strips, infographics, contests and games.

Note to the editor

About Max Bupa Health Insurance

Max Bupa Health Insurance is a, 74:26, joint venture between Max India Limited, a multi-business corporate with expertise in life insurance and health care and Bupa, a leading international healthcare provider with 65 years of healthcare knowledge. Max Bupa brings together a combination of Bupa’s global health insurance expertise and customer service expertise with Max India’s understanding and experience of the Indian health and insurance sectors. Max Bupa offers quality health insurance services through a dedicated team of over 1000 people and its network of 21 offices across 13 cities – Delhi, Mumbai, Hyderabad, Chennai, Bangalore, Pune, Ludhiana, Chandigarh, Jaipur, Surat, Kochi, Kolkata and Patna. Max Bupa offers individual and family oriented health insurance policies for Indians across all age groups.

Strong Network of 3400 hospitals

Max Bupa Health Insurance has a direct working relationship with a network of over 3400 top quality hospitals and healthcare providers and at the same time the company plans to extend. Max Bupa services customers directly without third party involvement. For more details about the company and a list of all our network hospitals please visit www.maxbupa.com.

About Max India

Max India Group is a multi-business corporate, driven by the spirit of enterprise and focused on people and service oriented businesses. The Company is headquartered in New Delhi, India. Max India is in the ‘Business of Life’ with its vision is to be one of India’s most admired corporates for Service Excellence. It ‘Protects Life’ through its Life Insurance subsidiary Max Life, a joint venture between Max India and Mutsui Sumitomo; ‘Cares for Life’ through its Healthcare company, Max Healthcare, a joint venture between Max India and Life Healthcare, South Africa; ‘Enhances Life’ through its Health Insurance company, Max Bupa Health Insurance, a joint venture between Max India and Bupa Finance Plc., UK; ‘Rejuvenates Life’ through its Senior Living business Antara, a fully owned subsidiary of Max India and ‘Improves Life’ through its Clinical Research business, Max Neeman, a fully owned subsidiary of Max India. The Group also continues its interest in manufacture of Specialty Products for the packaging industry through its strategic business unit Max Specialty Films.

The flagship company Max India Limited is a widely held public listed entity, with the owner sponsors, led by Analjit Singh holding over 39% stake. Its other shareholders include some of world’s best Institutional Investors such as, Goldman Sachs, International Finance Corporation, Washington (IFC) and Temasek Holdings.

About Bupa: 65 years of Health and Care

Bupa’s purpose is to help people lead longer, healthier, happier lives. Established in 1947, it has over 11.3 million customers in more than 190 countries. Employing over 52,000 people, Bupa has operations around the world, principally in the UK, Australia, Spain, New Zealand and the USA, as well as Hong Kong, Thailand, Saudi Arabia, India, China and across Latin America. A leading international healthcare group, Bupa offers personal and company health insurance, runs care homes for older people and hospitals, and provides workplace health services, health assessments and chronic disease management services, including health coaching, and home healthcare. With no shareholders, Bupa invests its profits to provide more and better healthcare and is committed to making quality, patient-centred, affordable healthcare more accessible in the areas of wellness, chronic disease management and ageing.

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