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Grapevine: Narayana Health, Aster DM Healthcare, Blackstone, and IvyCap-backed Miko in news

VCCircle

VCCircle · 9m ago

Grapevine: Narayana Health, Aster DM Healthcare, Blackstone, and IvyCap-backed Miko in news

Hospital chains Narayana Health and Aster DM Healthcare are making headlines as they engage in talks regarding an overseas acquisition and a merger with a local peer, respectively. Additionally, robotics startup Miko is expected to secure more funding in its ongoing Series C round.

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The big hospital merger: Aster DM, Care to sign deal next month

Livemint

Livemint · 1y ago

The big hospital merger: Aster DM, Care to sign deal next month

Bengaluru-based Aster DM Healthcare and Hyderabad-based Care Hospitals, both backed by Blackstone, are set to merge next month, according to sources. The new entity, potentially named Aster DM Quality Care Pvt. Ltd, will become India's third-largest hospital chain with close to 9,900 beds. The deal is currently under due diligence, with a share swap ratio of 50:50 agreed upon. The Moopen family, Blackstone, TPG, and other investors will own stakes in the combined entity, and an open offer is expected after the merger. The merger will have to be approved by the National Company Law Tribunal.

Aster DM, Blackstone-backed Quality Care announce merger in $5 bn deal

Livemint

Livemint · 9m ago

Aster DM, Blackstone-backed Quality Care announce merger in $5 bn deal

Bengaluru-based Aster DM Healthcare announced a merger with Blackstone-backed Quality Care India Limited (QCIL), creating a Top 3 player in India's hospital industry. The merger will value the combined entity at $5.08 billion and give Aster shareholders a 57.3% stake in the merged company. The merger is expected to be completed in 12 months, pending regulatory approvals. The combined entity will have 10,150 beds and plans to add 3,180 more in the next two years. Blackstone will be the largest shareholder with a 30.7% stake.

Aster DM Healthcare plans to double bed capacity to 10,000 in three years: CEO

Livemint

Livemint · 1y ago

Aster DM Healthcare plans to double bed capacity to 10,000 in three years: CEO

Bengaluru-based healthcare provider Aster DM Healthcare plans to increase its bed capacity to over 10,000 in the next three years through acquisitions and organic growth. The company intends to spend at least ₹1,000 crore ($136m) to acquire 2,000-4,000 beds and invest an additional ₹1,000 crore to add 1,700 beds organically. Aster DM aims to become one of India's top three healthcare providers and sees Uttar Pradesh as a potential market for expansion.

Aster DM eyeing fresh funding as it moves to buy remaining stake in arm

VCCircle

VCCircle · 9m ago

Aster DM eyeing fresh funding as it moves to buy remaining stake in arm

Listed hospital chain Aster DM Healthcare is planning to raise fresh capital from select investors as it moves to acquire the remaining 13% stake in subsidiary Aster Aadhar Hospital. The acquisition will bring Aster DM Healthcare's ownership to 100%. The company is also seeking board approval to issue additional equity shares via preferential allotment, allowing specific investors to purchase up to 5% of the company's total equity post-issuance. If approved, the value of the 5% shares would be around $140m. Aster DM Healthcare operates 19 hospitals with nearly 5,000 beds across India.

Aster DM Healthcare to invest ₹1,400 crore in expansion across India

Business Today

Business Today · 4m ago

Aster DM Healthcare to invest ₹1,400 crore in expansion across India

Aster DM Healthcare plans to invest Rs 1400 crore to expand its network in India by adding 1,700 beds by FY27. This includes investments in Kerala, Karnataka, and Hyderabad, with ₹850 crore in Kerala alone. Projects include a new hospital in Trivandrum and expanded facilities in Kasaragod and Kochi. With a merger, Aster has consolidated its assets, now operating 38 hospitals with over 10,000 beds across 27 cities, also focusing on digital health services.

Aster DM Healthcare quashes merger rumours: Is Blackstone-backed Care Hospitals still in the race? | Mint

Livemint

Livemint · 11m ago

Aster DM Healthcare quashes merger rumours: Is Blackstone-backed Care Hospitals still in the race? | Mint

Aster DM Healthcare has denied rumors of a potential merger with Care Hospitals, dismissing speculation that emerged from a news report. In a filing response, Aster DM Healthcare stated that while it explores strategic opportunities for growth, no material events requiring disclosure have occurred. The company assured shareholders that any significant developments will be communicated through the appropriate channels. Aster DM Healthcare's stock price was not affected by the media report. The company remains committed to adhering to regulatory obligations and will disclose any required information accordingly.

Aster DM block deal: 9.3% stake sold for Rs 1,607 crore; Olympus likely seller

Money Control

Money Control · 1y ago

Aster DM block deal: 9.3% stake sold for Rs 1,607 crore; Olympus likely seller

On June 20th, Aster DM Healthcare's share price increased by 1.1% to reach Rs 355.9 at close. It has seen a decline of nearly 19% since March 27, which was when Olympus last sold its stake in the company. On June 21st, around 9.3% of Aster DM Healthcare's equity was sold for Rs 1,607 crore in block deals. Olympus, a private equity firm, is likely to sell part of its remaining stake in the company. This move would mark Olympus' complete exit from Aster DM Healthcare.

Grapevine: Blackstone, Carlyle, TPG, Hillhouse, Access Health, AstraZeneca in news

VCCircle

VCCircle · 8m ago

Grapevine: Blackstone, Carlyle, TPG, Hillhouse, Access Health, AstraZeneca in news

At least four global private equity firms, including Blackstone, Carlyle, TPG, and Hillhouse Partners, have submitted non-binding bids for healthcare outsourcing firm Access Healthcare. Meanwhile, AstraZeneca's India unit has reportedly cut over 125 jobs in its biopharmaceutical business. These updates highlight active interest from significant investment firms in healthcare outsourcing and job restructuring within the biopharmaceutical sector in India, as reported by various media sources.

AGS Health gets PE suitors; Fireside, ChrysCap in fund news

VCCircle

VCCircle · 5m ago

AGS Health gets PE suitors; Fireside, ChrysCap in fund news

Several private equity firms, including Blackstone, TPG Capital, and General Atlantic, are vying to acquire AGS Health, a healthcare IT company. Reports suggest the deal could value AGS Health at approximately $1 billion. This indicates a strong interest in the healthcare IT sector from major investment players, underscoring the company's growth potential and strategic importance. AGS Health could become a significant acquisition target in the industry.

Exclusive: Aster DM Healthcare set to stitch deal for India biz with top PE firm

VCCircle

VCCircle · 1y ago

Exclusive: Aster DM Healthcare set to stitch deal for India biz with top PE firm

Mumbai-listed Aster DM Healthcare is in advanced discussions with a leading private equity firm to sell its India business. The hospital chain had previously agreed to separate and sell its India operations last year. The deal is expected to be finalized soon and underscores the company's efforts to streamline its operations.

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