CCI approves Blackstone, TPG stake buy in Quality Care India, Health News, ET HealthWorld

by Rahul Devi

The Competition Commission of India (CCI) has given its approval for the stake acquisition by Blackstone and TPG in Quality Care India Ltd (QCIL). QCIL is a multi-speciality healthcare provider that operates a network of hospitals under the brand name ‘CARE Hospitals’ in several cities across India.

According to two separate releases, CCI has approved the acquisition of about 72.49% and 24.16% stake in QCIL by BCP Asia II and Centella Mauritius Holdings Ltd, respectively. BCP Asia II is controlled by funds advised and/or managed by affiliates of Blackstone Inc, while Centella Mauritius Holdings is a special purpose investment vehicle controlled by the affiliates of TPG Inc.

Deals of this nature require approval from CCI, which aims to keep a tab on unfair business practices and promote fair competition in the marketplace.

The approval for the stake acquisition comes as a significant development in the healthcare industry. QCIL’s CARE Hospitals have established themselves as a trusted name in providing quality healthcare services. With the support of Blackstone and TPG, QCIL can further expand its operations and reach a wider audience.

The investment by Blackstone and TPG not only provides financial support to QCIL but also brings in their expertise and industry knowledge. This partnership can potentially drive innovation and improve healthcare services in India.

The approval from CCI also indicates the positive regulatory environment in India, which encourages investments in the healthcare sector. This can lead to more collaborations and advancements in the industry, ultimately benefiting the consumers.

Overall, the stake acquisition by Blackstone and TPG in QCIL is a step towards strengthening the healthcare infrastructure in India. With the backing of these renowned investors, QCIL can continue to provide quality healthcare services and contribute to the growth of the healthcare sector in the country.

Published On Sep 21, 2023 at 07:35 AM IST

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