Max Healthcare Institute Ltd (MHIL), a Delhi-based private hospital chain announced its plans to invest Rs 2,500 crore to develop hospitals in Lucknow and strengthen its footprint in Uttar Pradesh (UP).

In a statement, the company said that the investment will include the development of a new 500-bed hospital and expanding the capacity of the recently-acquired Max Super Specialty Hospital in Lucknow. "This gives us an opportunity to participate in the development of Uttar Pradesh as it marches towards becoming a $1 trillion economy by 2027," said Abhay Soi, chairman and managing director, Max Healthcare.

The group earlier announced its acquisition of the 550-bed Sahara Hospital on a slump sale basis from Sahara India Medical Institute Limited at an enterprise value of ₹940 crore and renamed it as Max Super Speciality Hospital. After this acquisition, the hospital group has around 700 beds in UP.

These investments are part of the company's plan to invest ₹5,000 crore to double its capacity across its network of hospitals by adding 4,200 beds in the next four to five years. The group currently has 4,000 beds and plans to raise it to 8,200.