Deals
Blackstone Deepens India Push With $5 Billion Hospital Deal
- Combination to create one of India’s largest hospital chains
- Blackstone to be largest shareholder of newly-combined company
The merged company will have more than 10,000 beds, making it one of India’s top hospital chains in terms of revenue and bed capacity.
Photographer: Bing Guan/BloombergThis article is for subscribers only.
Quality Care India Ltd., the Indian hospital chain backed by Blackstone Inc., agreed to combine with Aster DM Healthcare Ltd. in an all-stock deal that will create one of India’s largest hospital chains.
Blackstone will be the biggest shareholder of the newly-combined entity with a roughly 31% stake, while Aster founders will hold 24%, according to a regulatory filing on Friday, which confirmed an earlier Bloomberg News report. The company will remain listed in Mumbai and be rebranded as Aster DM Quality Care Ltd.