CCI approves acquisition of 72.49% stake in Quality Care India by BCP Asia II

The Competition Commission of India (CCI) has approved acquisition of approximately 72.49% stake in Quality Care India by BCP Asia II.

The Proposed Combination envisages acquisition of ~72.49% of the total equity shareholding of Quality Care India Limited (Target), on a fully diluted basis, by BCP Asia II Topco IV Pte. Ltd (BCP Asia II/Acquirer) from Touch Healthcare Private Limited.

The Acquirer is controlled by funds advised and/or managed by affiliates of Blackstone Inc.

The Target is a multi-specialty healthcare provider established in 1997. It operates a network of multi-speciality hospitals under the brand name 'CARE Hospitals' in various cities in India. The Target, directly and through its downstream affiliates, has 17 healthcare facilities (16 hospitals and 1 clinic) serving 7 cities in 6 states in India, with ~2,400 beds.

(With Inputs from PIB)