Interest stems from the growth potential of India's healthcare sector
Ontario Teachers' Pension Plan Board and BPEA EQT, along with other major players Blackstone Inc. and KKR & Co., are reportedly exploring a potential deal to acquire assets from Aster DM Healthcare Ltd., with a specific focus on its India business, insiders familiar with the matter told Bloomberg.
The interest from Ontario Teachers’ and BPEA EQT stems from the growth potential in the Indian healthcare services sector. Potential acquirers are open to collaboration, and various deal options are being explored, including the prospect of a full company takeover, the people familiar with the matter said.
If a deal for the entirety of Aster materializes, it could be valued at over $2.5 billion, the insiders said. Aster’s Gulf business may be valued at approximately $1 billion, while the Indian business alone is estimated to be worth around $1.5 billion. Aster's stock has witnessed a 40% surge this year, valuing the company, listed in Mumbai, at roughly $1.9 billion.
There is also potential for Blackstone to consider acquiring Aster's India business through Quality Care India Ltd., which recently received approval from the Competition Commission of India to purchase a 72% stake in the Care Hospitals chain.
Discussions are ongoing, and the potential acquirers could decide against pursuing a deal, the people said. Additionally, new bidders may enter the scene, they added.
