Max India on Monday said it has completed spinning off its hospital assets under Max Healthcare and all its residual businesses under Advaita Allied Health Services, along with merger of healthcare business of Radiant Life Care with Max Healthcare.
The process is in line with a composite merger scheme approved by the National Company Law Tribunal (NCLT), the company said in a BSE filing.
“Max India shall stand dissolved effective today,” Max Healthcare said in a statement on Monday, adding that amalgamation and demergers as per the sanctioned scheme have been successfully completed.
The combination of Radiant and Max Healthcare, called Max Health Institute (MHIL), will be the second-largest hospital network in the country by revenue and one of the top three chains in terms of bed capacity, the company said.
Source: Economic Times