Max Healthcare to Acquire Controlling Stake in Kalinga Hospital, Bhubaneswar; Re-appoints Mr. Narayan K. Seshadri as Director

Max Healthcare Institute Ltd. has announced its decision to acquire a controlling stake in Kalinga Hospital Ltd., a 250-bedded Multi-Specialty Hospital in Bhubaneswar, Orissa. The company will also provide loans up to ₹100 Crore for construction, renovation, upgradation, and equipment. Additionally, the Board has approved a Senior Secured Term Loan of amount up to ₹300 Crore in the form of External Commercial Borrowings for financing the acquisition. The Board has also approved the re-appointment of Mr. Narayan K. Seshadri as Non-Executive and Non-Independent Director for a further term of 3 years.