The International Finance Corporation (IFC), the World Bank Group's private sector arm, will invest Rs 300 crore in Delhi-based Max Healthcare Institute to aid expansion programmes over the next four years.
IFC’s investment in Max will include Rs 50 crore of common equity and Rs 250 crore of preferred, cumulative, and redeemable equity.
The proposed expansion will add 452 beds to the company’s existing 765-bed capacity. This includes 268 beds in Patparganj hospital, a new
100-bed secondary and tertiary hospital in Dehradun, and a new 84-bed
tertiary hospital focussed on obstetrics, gynecology, and pediatrics at Saket, Delhi.
This is the second investment announced by IFC in the healthcare-pharmaceutical segment in India. On June 14, it had announced a financial assistance worth Rs 63 crore ($15 million —loans of up to $9 million and up to $6 million in equity) to pharmaceutical firm Granules India.
IFC holds a portfolio of $1.3 billion in India, as of June 2006, its fourth-largest country portfolio. During 2006, it committed over $400 million in new investments.
Source : Business Standard