Park Medi World to Operate 300-Bed Hospital in Kanpur Under 28-Year Agreement

New Delhi [India], September 16: Park Medi World Limited has entered into a long-term Operations and Management (O&M) agreement through its wholly owned subsidiary, Aggarwal Hospital and Research Services Private Limited (AHRSPL), with Axis Educational Society (AES) to operate and manage a 300-bed multi-super speciality hospital in Kanpur, Uttar Pradesh.

According to the company’s exchange filing dated September 16, 2026, the facility, named Axis Hospital and Research Centre, will be operated under the agreement for a period of 28 years. The hospital is located at Rooma, Kanpur, and spans approximately 1.2 lakh square feet of covered area.

Under the asset-light arrangement, Park Group will undertake renovation, modernisation and investment in medical equipment without acquiring the underlying land or building. The agreement is expected to become effective no later than April 1, 2027.

As part of the arrangement, AHRSPL will pay AES a revenue share equivalent to 6% of collections, subject to applicable taxes. The minimum guaranteed payment is ₹20 lakh per month, including GST, during the first year, followed by ₹20 lakh per month plus GST thereafter.

The hospital is planned to be renovated and re-equipped before commissioning by the end of the current financial year. The company said the arrangement will expand its presence in Uttar Pradesh and add capacity through an asset-light operating model.