The Competition Commission of India (CCI) has approved acquisition of approximately 72.49% stake in Quality Care India by BCP Asia II.

The Proposed Combination envisages acquisition of ~72.49% of the total equity shareholding of Quality Care India Limited (Target), on a fully diluted basis, by BCP Asia II Topco IV Pte. Ltd (BCP Asia II/Acquirer) from Touch Healthcare Private Limited.

The Acquirer is controlled by funds advised and/or managed by affiliates of Blackstone Inc.

The Target is a multi-specialty healthcare provider established in 1997. It operates a network of multi-speciality hospitals under the brand name ‘CARE Hospitals’ in various cities in India. The Target, directly and through its downstream affiliates, has 17 healthcare facilities (16 hospitals and 1 clinic) serving 7 cities in 6 states in India, with ~2,400 beds.

Competition clearance for acquisition of majority stake in healthcare chain enables change in control by private funds. The Competition Commission approved BCP Asia II Topco IV Pte. Ltd, controlled by funds advised or managed by affiliates of Blackstone Inc., to acquire approximately 72.49% of the fully diluted equity of Quality Care India Limited from Touch Healthcare Private Limited, effecting a change in control. Quality Care India operates as CARE Hospitals and, directly and through downstream affiliates, runs 17 healthcare facilities across several states with roughly 2,400 beds, a footprint relevant to the competitive review.