In India, many families have long relied on traditional remedies and home solutions for their health. Yet, despite this deep belief in age-old practices, Max Healthcare has managed to earn the trust of millions.
Starting as a modest facility in 1985, it has grown into a respected multi-speciality hospital that people now turn to for advanced medical care. Max Healthcare has earned its place as the second-largest healthcare provider in India by market cap.
This journey reflects the aspirations of every Indian family—to grow, evolve, and strive for a healthier tomorrow.
Let’s take a closer look at Max Healthcare’s growth history.
History of Max Healthcare| How It Became India’s Second-Largest Healthcare Provider
In 1985, the Max Healthcare Foundation came into existence.
However, it took years of dedication to turn this vision into reality, bringing healing and hope to people.
And today?
Max Healthcare ranks 2nd among the top 10 healthcare providers in India. With every new hospital and service, Max Healthcare has made a real difference in countless lives.
Let’s take a walk through the inspiring history of Max Healthcare.
After the founding of Max Healthcare in 1985, over the years, the organisation grew, gaining the trust of over 37,000 shareholders.
The first major step in expanding health care was taken in 2000.
It began with the establishment of Max Medcentre in Panchsheel Park. This was the first centre equipped with outpatient facilities and daycare surgeries.
In 2002, two important milestones were achieved: Max Hospital in Pitampura became the first hospital in North Delhi to receive ISO certification.
Then, Max Hospital in Noida was opened. It focused on mother and child care alongside various specialities.
2004 saw the launch of the Max Heart & Vascular Institute in Saket. This introduced advanced cardiac life support ambulances and air evacuation services. This facility was a major contribution of Max Healthcare services in cardiac care.
By 2005, Max Hospital in Patparganj emerged as the first multispecialty tertiary care centre in East Delhi. It was equipped with 147 beds, three operating theatres, and a cath lab.
The next chapter evolved in 2006 when Max Super Speciality Hospital in Saket opened. This hospital became the first multi-speciality tertiary care location. It offers a wide range of advanced medical services.
In 2007, Max Healthcare achieved NABH and NABL certification for its laboratories.
That same year, Max Hospital in Gurgaon was established as a high-end secondary care centre, further extending the reach of Max Healthcare.
The following year, 2008, Max Healthcare received the Express Healthcare Awards for Excellence in Healthcare.
In 2009, the organisation received NABH accreditation for its blood bank. It was honoured with the D L Shah National Award for the ‘Economics of Quality’ by the Quality Council of India.
2011 was a significant year, as Max Healthcare expanded its footprint in North India with the opening of Max Super Speciality Hospitals in Bathinda and Mohali.
This was indeed a major milestone. These were opened in partnership with the Government of Punjab. Additionally, Max Super Speciality Hospital in Shalimar Bagh strengthened its presence in Delhi and NCR with a 300-bed facility.
In 2012, Max Super Speciality Hospital in Dehradun opened. This marked Max Healthcare’s first entry into Uttarakhand. This was followed by the opening of Max Multi Speciality Hospital in Greater Noida in 2014.
By 2015, significant transformations took place as Saket City Hospital officially became Max Smart Super Speciality Hospital, and Pushpanjali Crosslay Hospital rebranded as Max Super Speciality Hospital in Vaishali.
The foundation of Max Healthcare continued to strengthen in 2016 with the launch of the Max Institute of Cancer Care in Lajpat Nagar, dedicated to providing quality cancer care.
2017 brought the prestigious Joint Commission International (JCI) accreditation for Max Super Speciality Hospital in Saket. They were all set for international healthcare standards.
Finally, in 2020, Max Healthcare was listed on the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE), marking a new chapter in its growth journey.
The story continues.
Today, the Max Healthcare Insurance hospital list has 20 names spread all over India.
Celebrating Key Milestones at Max Healthcare
Max Healthcare has had impressive instances in the years 2023 and 2024.
- In June 2023, Max Healthcare achieved its 11th consecutive quarter of year-on-year growth.
- On March 30, 2023, Abhay Soi, the Chairman and Managing Director, was honoured as the Entrepreneur of the Year at the Forbes India Leadership Awards.
- In April 2023, Max Healthcare announced the introduction of cutting-edge medical technologies, including the Radixact-X9 system for cancer care and the Innova IGS 520 catheterisation lab.
- On March 15, 2024, Max Healthcare acquired Jaypee Healthcare.
- Then came the news of the most awaited telemedicine platform in April 2024. Now, people can access healthcare from the comfort of their homes.
- On June 30, 2024, Max Healthcare announced the introduction of custom care plans and 24/7 patient monitoring through Max@Home.
On September 20, 2024, at their Annual General Meeting, Max Healthcare Services announced big sustainability goals.
Here’s a look at their future CSR goals and current programs in action!
Max Healthcare Services: A Leader in Indian Medical Excellence
Max Healthcare Institute Limited is one of the largest healthcare organisations in India. It operates 20 healthcare facilities. To our amazement, these healthcare hospitals have over 4,300 beds and more than 5,000 clinicians.
Max Healthcare serves the NCR Delhi, Haryana, Punjab, Uttarakhand, Maharashtra, and Uttar Pradesh regions.
In addition to hospitals, Max Healthcare has a homecare business called Max@Home. Additionally, there is a pathology business named Max Labs. It aims to offer pathology services outside its hospital network.
Let’s explore a little more about the history of Max Healthcare:
Max was formed after Radiant Life Care Pvt. Ltd. acquired a 49.7% stake in the previous Max Healthcare Institute Limited and later merged with it.
- Max Healthcare Operations
Max Healthcare operates 20 hospitals with a total capacity of over 12,000 beds.
- Max Healthcare Ownership
Abhay Soi is the Chairman and Managing Director of Max Healthcare.
- Max Healthcare Facilities
Max Healthcare has 12 hospitals in Delhi NCR alone, with a total of 20 hospitals across India.
- Max Healthcare Services
Max Healthcare offers a variety of services, including Max@Home services and Max Labs for pathology.
- Max Healthcare Revenue – Quarter Ended June 30
Max Healthcare reported a revenue of ₹62,139 Lakhs (up from ₹54,363 Lakhs last year).
- Max Healthcare Net Worth
As of September 2024, Max Healthcare’s market cap is approximately INR 883.19 billion.
- Max Healthcare Products and Max Health Services
| Specialties | Procedures |
| Urology | Tetralogy of Fallot Repair |
| Bone Marrow Transplant | Autologous Stem Cell Transplant for Lymphoma |
| Cancer Care | Allogeneic Stem Cell Transplant |
| Cardiac Sciences | Uterine Cancer Treatment |
| Gastroenterology | Esophageal Cancer Treatment |
| IVF & Infertility | Novalis Tx Radiosurgery |
| Liver Transplant | Nose Reshaping Surgery (Rhinoplasty) |
| Neurosciences | Robotic Heart Surgery |
| Orthopaedics | |
| Plastic Surgery | |
| Paediatric Liver Transplant | |
| General and Laparoscopic Surgery | |
| Bariatric Surgery | |
| Kidney Transplant |
CSR Initiatives| Max Healthcare’s Vision for a Healthier Tomorrow
Max Healthcare Foundation believes in the social well-being of the communities around its hospitals. It aims to serve local communities. And thus, Max Healthcare services covers education, health awareness, and clinical support. By addressing wider social needs, it aims to create a positive impact nationwide.
- Education: Promoting learning opportunities for all.
- Skill Training: Offering training to weaker sections of society to enhance employability.
- Health Awareness: Educating communities about health and hygiene.
Popular CSR Initiatives
Max Medical Scholarship Programme
This program aims to focus on talented students from economically weaker sections. To make this drive successful, Max Healthcare provides scholarships for students attending esteemed government colleges for medical education.
Max Skill Training for Sustainable Livelihoods
In partnership with the National Skill Development Corporation, it offers training programs. For example, the latest is at Tihar Jail. Under this, undertrials can acquire new skills to help them reintegrate into society after release.
Max Water Conservation Programme
The foundation prioritises sustainable water management in its hospitals. With a goal to become 100% water-neutral by March 2025, Max Healthcare plans to recharge one million kilolitres of water annually.
Since its inception in 1985, Max Healthcare continues to transform lives with innovative solutions and compassionate care.
FAQs| Max Healthcare Services
Max Healthcare was founded in 2001 by Analjit Singh. His vision set the stage for a leading healthcare network in India.
The Chairman and Managing Director of Max Hospital is Abhay Soi.
Max Healthcare is renowned for its exceptional medical excellence and patient care. It specialises in fields such as oncology, cardiology, and orthopaedics.
Max Healthcare was listed on BSE and NSE in 2020.
Max Hospital ranks as the second largest healthcare provider in India by market cap.
As of Sep 27th, 2024, Max Healthcare has more than 27000 employees.
Source: Screener and Max Healthcare website