Aster DM merges with Quality Care to create third-largest hospital chain in India

Aster DM Healthcare has merged with Quality Care India Limited in a deal valued at $5.08 billion, creating Aster DM Quality Care, the third-largest hospital chain in India. The new entity will operate 38 hospitals and plans to add over 3,000 beds in two years. The merger, announced on November 29, 2024, involves a share-swap ratio of 977 Aster shares for every 1,000 QCIL shares. Aster shareholders will own 57.3% of the merged company, while Blackstone will hold 30.7%, making it the largest shareholder. Aster DM Quality Care aims to expand its presence in central India and enhance its oncology and cardiology services. The merger is expected to conclude within 12 months, pending regulatory approvals.