Radiant Life Care, a leading Indian hospital management company promoted by Abhay Soi and backed by KKR, has completed the acquisition of 49.7% stake in Max Healthcare Institute, a joint venture between Max India and Life Healthcare, from South Africa-based hospital operator Life Healthcare. Abhay Soi will now lead Max Healthcare as Chairman of its Board and Executive Council.
As part of the transaction, Max India’s promoters have received an advance of Rs 361 crore from KKR in exchange for a 4.99% stake in the merged entity. Max India’s promoters have used the funds for deleveraging purposes. Max India is engaged in the business of investments and providing consultancy services to group companies. The company’s segments are Healthcare Business, Business Investments, Health Insurance, Senior Living and Others.