Aster DM Healthcare, one of India’s largest integrated healthcare service providers, has announced a major merger with Quality Care India (QCIL), a company backed by Blackstone and TPG. This strategic move will create one of the country’s top three hospital chains, significantly reshaping the healthcare sector.
The newly merged entity, Aster DM Quality Care, will bring together four prominent healthcare brands: Aster DM, CARE Hospitals, KIMSHEALTH, and Evercare, creating a robust network of 38 hospitals and over 10,150 beds across 27 cities. The merger is set to enhance the combined organization’s presence in the rapidly expanding healthcare market. As part of the deal, Aster shareholders will own 57.3% of the merged entity, while QCIL shareholders will hold 42.7%.
Leadership of the merged entity will be jointly managed by Aster promoters and Blackstone, with the Moopen family, who have led Aster’s operations in India and GCC countries, continuing to drive the company forward. Azad Moopen, founder and chairman of Aster DM Healthcare, emphasized the transformative potential of the merger, combining the strengths of two major players in the healthcare sector to drive innovation and growth.
In addition, Aster DM will acquire a 5% stake in QCIL from Blackstone and TPG as part of the merger process, which is expected to be completed by Q3 FY26, pending shareholder and regulatory approvals. Amit Dixit, head of Asia for Blackstone Private Equity, highlighted their commitment to expanding the platform, leveraging scale and operational expertise to transform the merged entity into a world-class healthcare institution.
As reported by TOI, this merger marks a pivotal moment in the Indian healthcare industry, setting the stage for significant expansion and advancements in healthcare services across the region.