Aster DM Healthcare has announced a definitive merger agreement with Quality Care India (QCIL) to form Aster DM Quality Care. Approved by the respective companies’ board of directors, the merger is subject to regulatory, corporate, and shareholders’ approvals. The combined entity will have a portfolio of brands, including Aster DM, CARE Hospitals, KIMSHEALTH, and Evercare, as well as a network of 38 hospitals and over 10,150 beds spread across 27 cities. Prior to the merger, Aster will acquire a 5% stake in QCIL from Blackstone and TPG through a primary share issuance, which will result in a 3.6% stake for the investors in Aster. Upon completion, Aster Promoters and Blackstone will have equal representation on the board and will oversee the merged entity collectively.
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Source: https://finance.yahoo.com/news/aster-dm-healthcare-quality-care-161900482.html