Joint Venture12 Mar 2025, 07:10 pm
Max Healthcare to Enter Long-term Service Agreement with Bharat Prakritik Chikitsa Mission
AI Summary
Max Healthcare Institute Ltd announced the outcome of their Board Meeting held on March 12, 2025. The Board approved the proposal to enter into a Long-term Service Agreement (LTSA) with Bharat Prakritik Chikitsa Mission (BPCM), a society setting up a 200-bedded hospital in Pitampura, Delhi. The construction of the hospital premises is expected to be completed within the next three to four years. Once the hospital is ready for commissioning, the Company will provide an interest-free, refundable deposit linked to construction milestones as a guarantee against its performance obligations under the LTSA. The Board meeting commenced at 12.00 noon (IST) and concluded at 1.20 pm (IST).
Key Highlights
- Max Healthcare to enter into a Long-term Service Agreement with Bharat Prakritik Chikitsa Mission
- Bharat Prakritik Chikitsa Mission is setting up a 200-bedded hospital in Pitampura, Delhi
- The hospital construction is expected to be completed within the next three to four years
- Max Healthcare to provide an interest-free, refundable deposit once the hospital is ready for commissioning
- The deposit will be linked to construction milestones as a guarantee against its performance obligations under the LTSA