Sun Dec 01 01:04:10 UTC 2024: ## Aster DM Healthcare and CARE Hospitals Near Mega Merger, Creating India’s Second Largest Hospital Chain
**Mumbai, November 28, 2024** – Aster DM Healthcare and CARE Hospitals are on the verge of a major merger, sources have told CNBC-TV18, creating a significant positive impact on India’s healthcare landscape. This follows earlier reports by Moneycontrol on August 4th indicating negotiations between the two companies.
The resulting entity will see Blackstone holding a 34% stake and TPG holding 11%. Blackstone currently owns CARE Hospitals, with TPG also holding a stake. The Moopens family, holding a 42% stake in Aster DM Healthcare, will retain approximately 23% in the new entity. Leadership will be shared, with executives from both Blackstone and the Moopens family involved. Sources indicate Azad Moopen will lead the new organization.
Experts predict the combined network will boast over 10,000 beds, making it India’s second-largest hospital chain. The deal is expected to be finalized after a share-swap agreement between the Moopens family and Blackstone.
The news comes after Dr. Nithin Shetty, CEO of Aster DM Healthcare, resigned in August—the same day CNBC-TV18 reported on the proposed deal. While the company stated his departure was for entrepreneurial pursuits, his resignation followed shortly after the merger talks surfaced. Dr. Shetty had been CEO since March 2023 but had been associated with the company since 2014.
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