Aster DM Healthcare announces merger with Blackstone-backed CARE Hospitals

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Aster DM Healthcare announces merger with Blackstone-backed CARE Hospitals - Business Standard

Quick Summary:

Ahead of this merger, Aster will purchase a 5 per cent stake in QCIL from Blackstone and TPG in exchange for a primary share issuance by Aster for a 3.

TPG has been a long-term investor in the hospital segment in India and is focused on building healthcare institutions with a foundation of continuous quality improvement and standardized care to improve clinical outcomes and patient safety,” said Vishal Bali, senior advisor at TPG.

In October last year, Blackstone acquired a 72.5 per cent stake in Quality Care India, which operates CARE Hospitals and Kerala's KIMS Health, for around $1 billion.