Blackstone enters Indian healthcare services with Care Hospitals buy
© Reuters. Signage is seen at the Blackstone Group headquarters in New York City, U.S., January 18, 2023. REUTERS/Jeenah Moon/File Photo) said on Monday it will buy a majority stake in India's Care Hospitals from a fund belonging to asset management firm TPG, marking the U.S.-based private equity firm's entry into the country's healthcare services sector.
The deal comes as a post-pandemic boom in demand for private healthcare in India has made the sector attractive, with global investors seeking an entry into healthcare chains in the country. In a separate deal, Care Hospitals will buy a majority stake in KIMSHEALTH, which operates under Kims Healthcare Management, to form one of India's largest hospital platforms with 23 facilities and more than 4,000 beds across 11 Indian cities.
TPG, which has a stake in Care Hospitals through its Evercare Health Fund, will retain a significant minority stake in the combined platform, the statement said.EQTAB
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