In a major move, the global investment company Blackstone is putting in a massive $1 billion (₹8,300 crore) to take control of two well-known South Indian hospital chains. This means Blackstone will now be the fourth largest hospital group in India.
Blackstone has just bought about 73% of Quality Care India Ltd (QCIL), which owns the famous CARE Hospitals. This is a big step for Blackstone, as it’s their first dive into India’s growing healthcare sector.
Teaming Up for Better Healthcare
At the same time, Care Hospitals is teaming up with KIMSHEALTH, a respected private healthcare group in Kerala. Together, they’ll become one of the biggest hospital networks in India, with 23 modern hospitals in 11 cities, and over 4,000 beds.
Blackstone’s Plan for Growth
Ganesh Mani, the head of Blackstone Private Equity, says, “We want to make this network even better, by growing naturally and through more partnerships.” This means they’re serious about making healthcare better in India.
Everyone’s Staying Involved
Even with this big change, the global investment company TPG, which helps run Care Hospitals, will still be a part of the team. Also, KIMSHEALTH will keep being led by Dr. M.I. Sahadulla.
True North’s Smart Move
In this deal, a local investment company called True North is selling its whole stake in KIMSHEALTH. Though they didn’t share exact money details, this shows how smart moves are being made for the future.
This isn’t just about business – it’s about making healthcare better for all of us. With Blackstone’s huge investment, the future looks bright for Care Hospitals, KIMSHEALTH, and healthcare in India.