Life Healthcare to exit Max Healthcare

Life Healthcare Group Holdings is looking to sell its 49.7 percent stake in Max Healthcare, Bloomberg reported on Tuesday citing people in the know of the development.

The report said the Johannesburg-based company is working with Barclays to explore potential interest in its holding in Max Healthcare, one of India’s largest private hospital chains.

Life Healthcare is expecting around USD 406 million for its stake.

Launched in 2000, Max Healthcare is an equal JV partnership between Max India and Life Healthcare, South Africa with each of them owning a 49.7 percent stake. Max Healthcare is focused on tertiary and quaternary care, with revenues of Rs 2,567 crore from over 2,500 beds across 14 hospitals.

Analjit Singh and his family own 40.97 percent of the listed Max India, which has other subsidiaries including Max Bupa, which is healthcare insurance joint venture, and Antara, a senior-living platform.