CCI greenlights Aster DM-Quality Care India merger; check details

The Competition Commission of India (CCI) on Tuesday, April 15, greenlit the merger of Quality Care India Ltd (QCIL) into Aster DM Healthcare Ltd.

The approved merger transaction, “by way of a scheme of amalgamation,” will result in Aster being renamed to Aster DM Quality Care Ltd.

Before the merger, Aster will purchase a 5% stake in QCIL from BCP Asia and Mauritius Holdings Ltd (Centella), the existing shareholders of Quality Care. This transaction will be in consideration of a primary share issuance by Aster, CCI said in a press release.

The existing shareholders, including BCP Asia, Mauritius Holdings and certain minority stakeholders, will hold a certain stake in the merged entity. However, Mauritius Holdings will have a less than 10% stake without control rights in Aster DM Quality Care, the press release stated.

Quality Care, an unlisted public limited company, is owned and controlled by Mauritius Holdings (Centella) and BCP Asia. BCP Asia is owned by the asset-management firm Blackstone. Centella is owned by TPG Inc., the holding company of TPG Group. This makes Quality Care India a Blackstone and TPG-backed healthcare company.

About Quality Care India

Quality Care India operates a network of multi-speciality hospitals under the brand names CARE Hospitals, KIMS Health and Evercare across the country.

Quality Care, with a team of more than 2,500 doctors, offers over 30 medical specialities across 14 Indian cities and more than 5,150 beds in 26 healthcare centres.

About Aster DM Healthcare

Aster DM Healthcare, a part of the Aster Group, is a healthcare service provider operating in India through 19 hospitals with 4,867 beds, 13 clinics, 215 pharmacies, 232 labs and patient experience centers across six Indian states.

Aster DM Healthcare share performance

Shares of Aster DM Healthcare closed in the red at ₹489.45 apiece, down 2.17% on the National Stock Exchange (NSE) on Tuesday.

The stock gained 0.21% over the last week and 1.23% since the beginning of April. The scrip 4.77% on a year-to-date basis.

Aster DM Healthcare has a total market capitalisation of ₹24,551.07 crore as of April 15, 2025, on the NSE.