Abhay Soi, Chairman and managing
director, Max Healthcare
Image: Amit Verma
On 24 March 2020, Abhay Soi found himself in a pickle. The first-generation entrepreneur had, with the help of private equity firm KKR, bought out Analjit Singh’s stake in Max Healthcare in June 2019. Overnight, he’d gone from running two hospitals in Delhi and Mumbai to 17 spread across north India. On the eve of the nationwide lockdown, the new company had ₹350 crore of Ebitda—hardly enough to service the ₹2,300 crore of debt on its books.
(This story appears in the 31 March, 2023 issue of Forbes India. To visit our Archives, click here.)