Blackstone and TPG have been granted approval by the Competition Commission of India (CCI) to acquire stakes in Quality Care India Ltd (QCIL), a multi-speciality healthcare provider that operates a network of hospitals under the brand name ‘CARE Hospitals’ in several cities across India.
BCP Asia II, which is controlled by funds advised and/or managed by affiliates of Blackstone Inc, has been approved to acquire about 72.49% of the stake, while Centella Mauritius Holdings Ltd, a special purpose investment vehicle controlled by the affiliates of TPG Inc, has been approved to acquire 24.16% of the stake.
The acquisition deals beyond a certain threshold require approval from CCI, which monitors unfair business practices and promotes fair competition in the marketplace.
The approval of the acquisition by Blackstone and TPG in QCIL will aid in expanding the healthcare sector in India. The stake acquisition by these firms will also help in providing better healthcare services to people in India.
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