Maitreya Medicare Ltd IPO

Maitreya Medicare Limited was originally incorporated as `Maitreya Medicare Private Limited' a private limited company under the Companies Act, 2013 at Surat Gujarat, pursuant to a certificate of incorporation dated March 28, 2019, issued by the Registrar of Companies, Central Registration Centre (CRC) (RoC). Thereafter, name of the Company was changed from 'Maitreya Medicare Private Limited' to 'Maitreya Medicare Limited', consequent to conversion of the Company from private to public company, pursuant to a special resolution passed by the shareholders of the Company on March 06, 2023, and a fresh certificate of incorporation consequent to change of name was issued by the RoC on March 30, 2023. The Company's Corporate Identity Number is U24290GJ2019PLC107298.

The Company operates in the healthcare sector. The healthcare market for West India is expected to grow at a CAGR of 16% from Rs. 1.15 trillion in Fiscal 2022 to Rs. 2.25 trillion by Fiscal 2027. Healthcare has become one of India's largest sectors, both in terms of revenue and employment. India's healthcare industry comprises hospitals, medical devices and equipment, health insurance, clinical trials, telemedicine and medical tourism. These market segments are expected to diversify as an ageing population with a growing middle class increasingly favours preventative healthcare. The long-term outlook for the hospital sector is stable, with annual revenues likely to grow robustly over the next few years on account of rising domestic demand for healthcare as well as medical tourism. The Government aims to develop India as a global healthcare hub, and is planning to increase public health spending to 2.5% of the country's GDP by 2025. The Union Budget 2023 has allocated a whopping Rs. 88,956 crores to health expenditure, Rs. 2,350 Crore hikes to 2.71 percent from Rs. 86,606 crores in F.Y 2023-24. The Indian healthcare sector is growing briskly due to its strengthening coverage, services, and increasing expenditure by public and private players. India's healthcare delivery system is categorized into two major components - public and private. The government, i.e. public healthcare system, comprises limited secondary and tertiary care institutions in key cities and focuses on providing basic healthcare facilities in the form of primary healthcare centers (PHCs) in rural areas. The private sector provides the majority of secondary, tertiary, and quaternary care institutions with a major concentration in metros, tier-I, and tier-II cities. The adequacy of a country's healthcare infrastructure and personnel is a barometer of its quality of healthcare. This, in turn, can be assessed from bed density (bed count per 10,000 population) and availability of physicians and nurses (per 10,000 population). The Indian medical tourism market was valued at US$ 2.89 billion in 2020 and is expected to reach US$ 13.42 billion by 2026. According to India Tourism Statistics at a Glance 2020 report, close to 697,300 foreign tourists came for medical treatment in India in FY19. India has been ranked 10th in the Medical Tourism Index (MTI) for 2020-21 out of 46 destinations by the Medical Tourism Association.

Maitreya Medicare Limited (MML) is a NABH accredited, 125 bedded (including non census beds) multi super speciality hospital incorporated in the year 2019 based out in Surat City, the heart of Gujarat, providing ultimate secondary and tertiary healthcare services at affordable charges. Its core specialities include Cardiology, Urology, Oncology, Laparoscopic Surgery, Neurology, Neurosurgery, Spine Surgery, Nephrology including Dialysis, Gastroenterology, Gastrointestinal surgery, Cardiothoracic Surgery, Oncosurgery, Orthopedic Surgery including joint replacements and Arthroscopic surgeries, Gynecology & High-Risk Obstetrics, Hepatocellular Billary Surgery, Critical Care Medicine etc. Its promoters have a combined experience of more than two decades in the healthcare industry. Its healthcare facilities consist of advanced technology and its doctors, nurses and other healthcare professionals follow treatment protocols that match acceptable standards. Its hospital boasts of one of its kind premier Cathlab, two modular superspeciality operation theatres with laminar air flow and HEPA filters, well equipped 20 bedded Intensive Care Units (ICU) with ECMO and CRRT and excellent support services like Pathology and Radiology including CT scan. It is also currently in the process of developing a multi-super speciality hospital in its subsidiary company, Maitreya Hospital Private Ltd, at Valsad, Gujarat, which is designed to accommodate over 125 beds.