Max ​​​​​​​Healthcare enters Bhubaneswar with Rs 300 crore Kalinga Hospital deal

Max Healthcare Institute Ltd has entered the Bhubaneswar market with an agreement to acquire a controlling stake in Kalinga Hospital Ltd for an equity value of Rs 300 crore, including control premium, as the company looks to expand its footprint in eastern India.

The company will acquire a 58.4% stake in Kalinga Hospital from Hospital Corporation of Orissa Inc., the company said in a statement. The transaction is subject to completion of customary conditions precedent.

Kalinga Hospital, a 250-bed NABH-accredited facility operational since 1997, is located in Maitri Vihar, a central part of Bhubaneswar. Built on a 10-acre parcel with a constructed area of around 2.6 lakh sq. ft., the hospital provides multi-specialty care across neurology, cardiology, orthopaedics, gastroenterology, oncology and renal sciences, supported by diagnostics infrastructure including CT, MRI and cath lab facilities.

The asset also offers significant expansion potential, with the capacity to scale up to over 1,000 beds on the same campus over the long term, positioning it as a key growth lever for Max Healthcare in the region.

Bhubaneswar has emerged as a healthcare hub catering not only to Odisha but also to neighbouring states such as West Bengal, Jharkhand and Chhattisgarh, driven by a mix of public and private hospitals and the presence of multiple medical colleges. The entry is expected to strengthen Max Healthcare’s network beyond its core northern markets, the company said.

“Bhubaneswar is an extremely attractive market, and the acquisition of a well-located and reputable hospital offers significant operational upside and brownfield potential. Such opportunities are relatively rare,” said Abhay Soi, Chairman and Managing Director, Max Healthcare Institute Ltd.

“This acquisition allows us to strengthen our footprint and extend high-quality healthcare services to a fast-growing region,” he added.

Max Healthcare currently operates 20 healthcare facilities with around 5,200 beds, with a strong presence in north India, including Delhi-NCR, Punjab and Uttarakhand, alongside facilities in Mumbai and Nagpur.