Blackstone (BX.N) said on Monday it will buy a majority stake in India’s Care Hospitals from a fund belonging to asset management firm TPG, marking the U.S.-based private equity firm’s entry into the country’s healthcare services sector. Blackstone will commit $1 billion in the hospital chain in India and hold over 75% in Care Hospitals, a source with direct knowledge of the matter said. They did not want to be named as the deal details are private. The deal comes as a post-pandemic boom in demand for private healthcare in India has made the sector attractive, with global investors seeking an entry into healthcare chains in the country.
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