CCI approves Blackstone, TPG stake buy in Quality Care India

Anti-trust watchdog Competition Commission of India (CCI) on Wednesday said it has approved the stake acquisition by Blackstone and TPG in Quality Care India Ltd (QCIL). QCIL is a multi-speciality healthcare provider, which operates a network of multi-speciality hospitals under the brand name 'CARE Hospitals' in several cities across the country.

According to two separate releases, CCI said it has approved the acquisition of about 72.49 per cent and 24.16 per cent stake in Quality Care India Ltd by BCP Asia II and Centella Mauritius Holdings Ltd, respectively.

BCP Asia II is controlled by funds advised and/or managed by affiliates of Blackstone Inc, while Centella Mauritius Holdings is a special purpose investment vehicle controlled by the affiliates of TPG Inc.

Deals beyond a certain threshold require approval from CCI, which keeps a tab on unfair business practices as well as promotes fair competition in the marketplace.