Aster DM, Blackstone's Quality Care announces merger, to be among top 3 hospital chains in India

economictimes.indiatimes.com:

Aster DM Healthcare and Blackstone- owned hospital platform Quality Care India Ltd (QCIL) on Friday said they have signed definitive agreements for a merger.

The merged listed entity will be named as Aster DM Quality Care Limited.

Blackstone will be the largest shareholder in the merged entity with about 30.7% stake, Aster promoters will have around 24% and the rest will be held by public and other shareholders including TPG which will hold 10.22%

The transaction values Aster at 36.6x FY24 adjusted post INDAS EV/ EBITDA, which is 45% higher than the multiple ascribed to QCIL's 25.2x FY24

The merger is subject to regulatory, corporate and shareholders’ approvals.

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