Blackstone’s BCP Asia II secures CCI approval for a game-changing 72.49% stake acquisition in Quality Care India Limited.

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Blackstone's BCP Asia II secures CCI approval for a game-changing 72.49% stake acquisition in Quality Care India Limited.
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  • Post last modified:21 September 2023
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New Delhi, September 21, 2023 – In a significant development, the Competition Commission of India (CCI) has granted its approval for the acquisition of approximately 72.49% stake in Quality Care India Limited by BCP Asia II. This decision marks a pivotal moment in the healthcare industry in India and signals a new chapter for the renowned healthcare provider.

A Transformative Move

The Proposed Combination, as approved by the CCI, involves the acquisition of approximately 72.49% of the total equity shareholding of Quality Care India Limited, commonly known as ‘CARE Hospitals.’ This acquisition, which will be executed on a fully diluted basis, is set to be carried out by BCP Asia II Topco IV Pte. Ltd, an entity affiliated with Blackstone Inc. This major step forward underscores the growing influence of private equity in the healthcare sector.

Behind the Acquirer

BCP Asia II Topco IV Pte. Ltd, the acquirer in this deal, is under the control of funds advised and/or managed by affiliates of Blackstone Inc. This global investment powerhouse has a formidable reputation and an extensive portfolio, making it a significant player in the world of finance and investments.

Quality Care India Limited: A Legacy of Healthcare Excellence

Quality Care India Limited, founded in 1997, is a distinguished multi-specialty healthcare provider in India. Operating under the brand name ‘CARE Hospitals,’ it has established a formidable network of multi-speciality hospitals across various cities in the country. The Target, directly and through its downstream affiliates, boasts an impressive count of 17 healthcare facilities, including 16 hospitals and 1 clinic, strategically located in 7 cities across 6 states in India. With a cumulative capacity of approximately 2,400 beds, CARE Hospitals has been at the forefront of delivering top-notch healthcare services to patients.

Strengthening Healthcare Access

This acquisition holds the promise of fortifying healthcare access and quality for patients across India. It brings together the financial prowess of BCP Asia II and the established healthcare infrastructure of Quality Care India Limited. As the healthcare landscape continues to evolve, this partnership is poised to contribute positively to the overall well-being of the nation.

Looking Ahead

While the CCI has given its green light to this transformative acquisition, a detailed order will soon follow, outlining the specifics of the approval. As the healthcare industry navigates the complexities of the modern world, partnerships like these are expected to shape the future of healthcare delivery in India.

In conclusion, the CCI’s approval of the acquisition of a substantial stake in Quality Care India Limited by BCP Asia II signifies a remarkable development in the healthcare sector. It underscores the potential for innovation and growth in providing quality healthcare services to the people of India.


Key Facts

πŸ“Œ CCI approves acquisition of 72.49% stake in Quality Care India by BCP Asia II:

  • 🏒 Quality Care India Limited (Target) to be acquired by BCP Asia II Topco IV Pte. Ltd (BCP Asia II/Acquirer).
  • 🀝 BCP Asia II/Acquirer is controlled by funds advised and/or managed by affiliates of Blackstone Inc.
  • πŸ₯ Quality Care India is a multi-specialty healthcare provider established in 1997, operating under the brand name ‘CARE Hospitals’ in India.
  • 🏨 Quality Care India has 17 healthcare facilities, including 16 hospitals and 1 clinic, serving 7 cities in 6 states with approximately 2,400 beds.

πŸ“Œ CCI approves acquisition of approximately 24.16% stake in Quality Care India Limited by Centella Mauritius Holdings Limited:

  • 🏒 Quality Care India Limited (QCIL) to be acquired by Centella Mauritius Holdings Limited.
  • 🀝 Centella Mauritius Holdings Limited is an investment vehicle incorporated in Mauritius and owned and controlled by an entity advised by the affiliates of TPG Inc. (TPG).
  • πŸ’Ό TPG Group, including its subsidiaries and affiliates, operates in India across various sectors, including healthcare.
  • πŸ₯ QCIL, operating under the ‘CARE Hospitals’ brand, is a multispecialty healthcare provider with 17 facilities in 7 cities across 6 states in India.

πŸ“„ 1-liner Summary

The Competition Commission of India (CCI) has approved the acquisition of a 72.49% stake in Quality Care India by BCP Asia II and a 24.16% stake by Centella Mauritius Holdings Limited, impacting the healthcare sector.

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Frequently Asked Questions (FAQs)

  1. What is the significance of the CCI’s approval for this acquisition? The CCI’s approval is a crucial step that allows BCP Asia II to acquire a significant stake in Quality Care India Limited, a major healthcare provider in India. It signals a transformative move in the healthcare industry.
  2. Who is BCP Asia II, and what is its role in this acquisition? BCP Asia II Topco IV Pte. Ltd is the entity responsible for acquiring the stake. It is affiliated with Blackstone Inc., a global investment firm.
  3. Tell us more about Quality Care India Limited and its ‘CARE Hospitals’ brand. Quality Care India Limited, known for its ‘CARE Hospitals,’ is a multi-specialty healthcare provider established in 1997. It operates a network of hospitals and clinics in various cities in India, providing high-quality healthcare services.
  4. What is the expected impact of this acquisition on healthcare in India? This acquisition is expected to strengthen healthcare access and quality in India by combining the financial resources of BCP Asia II with the established healthcare infrastructure of Quality Care India Limited.
  5. What can we expect in the detailed order from the CCI? The detailed order from the CCI will provide specific information regarding the approval, including any conditions or requirements that must be met as part of the acquisition.

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