Announced Date: October 2023
o3 Capital acted as the financial advisor to Blackstone for the acquisition of a majority stake in Quality Care India Limited, the operator of CARE Hospitals
Blackstone is one of the largest alternative asset manager with over a trillion dollar in AUM deployed across various sectors like software, pharma, consumer, finance and specifically real estate. It’s assets under management include investment vehicles focused on private equity, real estate, public debt and equity, infrastructure, life sciences, growth equity, opportunistic, non-investment grade credit, real assets and secondary funds, all on a global basis. CARE Hospitals marks its maiden investment in the healthcare services sector in India.
CARE Hospitals is a multi-specialty healthcare company with presence in Aurangabad, Bhubaneswar, Hyderabad, Indore, Nagpur, Raipur and Visakhapatnam. A leader in its markets, CARE Hospitals is counted among the top 5 pan-Indian hospital chains and delivers comprehensive care in over 30 clinical specialties. It has 14 facilities across 7 cities in India with leadership position in under-penetrated, emerging cities. The healthcare chain had received investments from marquee financial sponsors in the past and prior to the current transaction, was owned by Evercare, a platform of TPG RISE funds.
This transaction, being amongst the largest buyout deals in Indian hospitals segment, holds significance in CARE Hospital’s next phase of growth as it positions itself amongst the top five hospital groups in the country. This will involve augmentation of capacities in in its core Central and South India cities, along with expansion of presence via inorganic means in adjacent geographies.
This marks o3 Capital's 14th deal closure in the Healthcare & Lifesciences space in the last 24 months. The deal reiterates o3 Capital’s strong credentials in the Healthcare & Lifesciences segment (56 deal closures till date) and our ability to advise on large deals in multi-specialty segment within the healthcare space.