Park Medi World has signed a 28-year deal with Axis Educational Society to run a 300-bed hospital in Kanpur under an asset-light model.

The agreement is being executed through Aggarwal Hospital and Research Services, a wholly owned subsidiary of Park Medi World.

The hospital, to be renamed Axis Hospital and Research Centre, sits on Kanpur’s NH-2 stretch and spans around 1.2 lakh square feet.

This is what’s known as an asset-light deal. Park Medi World will not buy the land or the building.

Instead, it will handle everything else, from renovation and modernisation to day to day operations, once the facility is upgraded to offer multi-super speciality care.

The hospital is expected to be commissioned before the end of this financial year, with the agreement itself coming into effect no later than 1 April 2027.

On the money side, Park Medi World will pay Axis Educational Society 6% of the hospital’s collections as revenue share, plus applicable taxes.

There is also a minimum guaranteed payment of Rs 20 lakh a month, inclusive of GST, for the first year, continuing at the same level plus GST after that.

This isn’t a one-off move. Park Group already runs 17 hospitals across North India with close to 4,300 beds combined, making it the region’s second largest hospital chain.

Alongside the Kanpur facility, the group is in the process of integrating six more hospitals and expanding three existing ones, a push expected to take total capacity to around 6,600 beds.

The company’s Q1 FY27 numbers also point to strong momentum. Consolidated net profit rose 42.31% to Rs 82.51 crore, while revenue climbed 19.27% to Rs 475.71 crore compared to the same quarter last year.

Managing Director Dr Ankit Gupta said Kanpur adds an important piece to the company’s Uttar Pradesh presence, allowing it to bring an established facility up to Park Group’s standards quickly, without the time or capital needed for a fresh acquisition or a ground-up build.

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