Park Medi World Signs 28-Year Deal to Manage 300-Bed Kanpur Hospital

The key milestones will now include completing the renovation and re-equipment work and commissioning the facility.

Park Medi World has entered into a 28-year agreement with Axis Educational Society to operate and manage a 300-bed multi-super speciality Axis Hospital and Research Centre in Kanpur, Uttar Pradesh.

The facility will be renovated and re-equipped before operations begin, with the arrangement adding to the company’s planned expansion across North India.

The hospital covers approximately 1.2 lakh square feet and is expected to be fully commissioned by the end of the current financial year. The management arrangement is scheduled to take effect no later than April 1, 2027.

Under the agreement, Park Medi World’s subsidiary will operate the hospital without acquiring the underlying property.

The company will pay Axis Educational Society 6% of total collections, subject to applicable taxes, with a minimum guaranteed payment of INR 20 lakh per month during the first year.

The Kanpur addition comes as Park Medi World continues to increase its hospital footprint across North India. The company currently manages 17 hospitals with around 4,300 beds and has outlined plans to increase capacity through a combination of owned hospitals, public-private partnerships and management or lease arrangements.

Its expansion pipeline includes markets such as Prayagraj, Gorakhpur, Zirakpur and Rohtak.

The company’s recent expansion activity has also included the launch of the 330-bed Medicity Hospital in Rudrapur and the incorporation of a special purpose vehicle for a proposed 550-bed PPP hospital project in Prayagraj.

The asset-light structure allows Park Medi World to take operational control of an existing hospital facility while avoiding the cost and timeline associated with developing a completely new site.

For the company, the key milestones will now include completing the renovation and re-equipment work, commissioning the facility, and integrating the hospital into its wider clinical and operational network.

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