Aster DM Healthcare has received approval from the Competition Commission of India for its proposed merger with Quality Care India. The merged healthcare entity will be named as ‘Aster DM Quality Care’. The proposed transaction includes the proposed merger of Quality Care India (QCIL) into Aster DM Healthcare (Aster) by way of a scheme of amalgamation, post which the company will be renamed as Aster DM Quality Care.
Prior to the merger, the company will acquire a 5 per cent stake in QCIL from BCP Asia II TopCo IV Pte (BCP Asia) and Centella Mauritius Holdings (Centella) in consideration of a primary share issuance by the company. The existing shareholders of QCIL -- Centella, BCP and certain minority shareholders are proposed to hold certain stakes in the merged entity with Centella holding less than 10 per cent stake, without any control rights.
Aster DM Healthcare operates in multiple segments of the healthcare industry, including hospitals, clinics and retail pharmacies and provide healthcare services to patients across economic segments in several GCC states through its various brands ‘Aster’, ‘Medcare’ and ‘Access’.
