Insurance and health-care firm Max India Ltd said it secured a Rs300 crore investment commitment from International Finance Corp. (IFC), the private investment arm of the World Bank, for its Max Healthcare unit. The company has raised another Rs1,000 crore from the market to fuel expansion of its insurance business.
Max, which is promoted by entrepreneur Analjit Singh, plans acquisitions in contract research as well as health insurance, while adding two hospitals a year to its network. The group plans to acquire contract research organizations in the US and Europe to bolster its existing operation, Neeman Medical International.A Ficci-Ernst & Young study pegged the clinical trials market as rising to $1.27 billion (Rs5,207 crore) worldwide in 2012 with profit margins of 20-25%
Read more in The Livemint article.
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