Blackstone enters Indian healthcare with Hyd buy

Global private equity firm Blackstone has entered the Indian healthcare market with the acquisition of a majority stake in Hyderabad-based CARE Hospitals. CARE Hospitals has also agreed to acquire Kerala-based KIMShealth from private equity player True North. The deal, valued at over $1 billion, will create one of India's largest hospital chains with 23 hospitals and 4,000 beds across 11 cities. Blackstone aims to build a patient-centric hospital platform focused on quality clinical care and services. TPG and True North will retain minority stakes in the combined platform.