Aster DM Healthcare quashes merger rumours: Is Blackstone-backed Care Hospitals still in the race?

  • Aster DM Healthcare has dismissed speculation about a potential merger with Blackstone-backed Care Hospitals. A merger between the two entities would potentially create one of the largest healthcare networks in India.

Shivangini
Published19 Sep 2024, 08:20 AM IST
Aster DM Healthcare quashes merger rumours: Is Blackstone's Care Hospitals still in the picture?
Aster DM Healthcare quashes merger rumours: Is Blackstone’s Care Hospitals still in the picture?

Aster DM Healthcare has officially addressed speculation regarding a potential merger with Blackstone-backed Care Hospitals. The clarification came in an exchange filing after a news report published by Moneycontrol on September 18, 2024, hinted that the companies were in advanced discussions for a possible merger.

This led to inquiries from the stock exchanges, including the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE), on the validity of the reported claims, the filing added.

Aster DM Healthcare share price closed in the green, up 1.82 per cent, at 421.45, on September 18, on NSE. Aster DM Healthcare stock price hit its 52-week high on April 15, 2024, at 558.

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In its formal response, Aster DM Healthcare stated that while the company routinely explores strategic opportunities as part of its growth and expansion plans, no material events have taken place that require disclosure under the Securities and Exchange Board of India (SEBI) Listing Obligations and Disclosure Requirements (LODR) regulations.

In the filing, the company emphasised that it remains committed to adhering to all regulatory obligations and would disclose any significant developments as and when required.

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What did Aster DM Healthcare said on merger reports?

Aster DM Healthcare also clarified that there had been no noticeable impact on the company’s stock price following the media report, and assured shareholders that any developments of material significance would be communicated through the appropriate channels. The company’s statement reads, "At this stage, there is no material event or information that requires disclosure. The Company will make appropriate disclosures in compliance with applicable laws, as and when required."

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This clarification comes in response to heightened interest from the market, especially after Blackstone-backed Care Hospitals emerged as a key player in the healthcare sector. A merger between the two entities would potentially create one of the largest healthcare networks in India, leading to widespread speculation about the future of Aster DM Healthcare.

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First Published:19 Sep 2024, 08:20 AM IST
Business NewsCompaniesNewsAster DM Healthcare quashes merger rumours: Is Blackstone-backed Care Hospitals still in the race?

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