Arttimez : Aster DM Healthcare and Quality Care India recently signed definitive agreements for a merger with Blackstone and TPG. The merger has been approved by the boards of directors of the respective companies and is subject to regulatory, corporate and shareholder approvals. The combined listed company will be named Aster DM Quality Care Limited. Aster DM Quality Care Limited will have a combined portfolio of four leading brands: Aster DM, Care Hospitals, KIMSHEALTH and Evercare. Accordingly, the combined company will have a network of 38 hospitals and 10,150+ beds across 27 cities, making it one of the top 3 hospital chains in India.
Dr. Azad Moopan, Founder and Chairman, Aster DM Healthcare, said: “The new combined entity, ‘Aster DM Quality Care Limited’, is poised to become one of the largest healthcare providers in the industry, setting new benchmarks in patient-centric care, innovation and access. With nearly four decades of leadership in the GCC and India, Aster continues to be the largest healthcare company in both regions. The integration of Aster and Quality Care’s extensive network and the support of Blackstone and TPG will leverage our capabilities to deliver world-class healthcare services, drive innovation and improve patient health. The merger will also provide our medical professionals with the opportunity to cater to a larger and more diverse patient population”.
Mr. Varun Khanna, Group Managing Director, Quality Care, said, “This merger demonstrates our aligned cultures and values, and further enhances our commitment to addressing the bed shortage in underserved areas of India. The teams at Aster and Quality Care have established a strong legacy of improving patients’ lives and meeting the evolving needs of communities. I look forward to taking this platform into a new era.”
