CCI Approves Merger of Aster DM Healthcare and Quality Care India

The Competition Commission of India has cleared the merger of Aster DM Healthcare and Quality Care India. The merged entity will be named Aster DM Quality Care. Aster will acquire a 5% stake in QCIL. QCIL's previous shareholders will hold stakes in the new entity.

The Competition Commission of India (CCI) has approved the merger between Aster DM Healthcare and Quality Care India, forming a new healthcare entity named Aster DM Quality Care. The merger signifies a significant consolidation in the healthcare sector.

Aster, which currently operates 19 hospitals across India as part of the Aster Group, will acquire a 5% stake in Quality Care India Ltd (QCIL) from BCP Asia and Centella Mauritius Holdings Limited before the merger. After the amalgamation, existing shareholders of QCIL, including Centella and BCP, will maintain certain stakes, with Centella holding less than 10% without control rights.

The merger is part of a broader strategic move that includes other sectors. The CCI has also approved a partnership between Alat Technologies and TKE Group. The joint venture will focus on manufacturing and servicing transportation units like elevators and escalators, primarily in Saudi Arabia.

(With inputs from agencies.)