Aster DM Healthcare wins shareholder backing for Quality Care India merger

Dubai: Aster DM Healthcare said it has secured overwhelming shareholder and creditor approval for its proposed merger with Quality Care India Limited (QCIL), clearing a key step toward creating one of India’s largest hospital networks.

The company said 96.68% of shareholders voted in favour of the scheme of amalgamation, alongside strong backing from minority shareholders and creditors. The approval follows earlier clearances from the Competition Commission of India and stock exchanges.

The transaction, structured as a share swap ahead of the merger, reflects broad-based investor support for the combined entity, Aster DM Quality Care Ltd, which is expected to be finalised next quarter pending remaining regulatory and National Company Law Tribunal approvals.

Upon completion, the merged entity is set to become one of India’s top three hospital chains by capacity, with more than 10,625 beds across 39 hospitals.

The network will span 9 states and 28 cities, supported by over 36,300 employees and clinicians. The platform will serve millions of patients annually across hospitals, clinics, laboratories and related healthcare services.

Aster said the merger will combine its existing healthcare operations with QCIL’s institutional backing, aiming to strengthen clinical capabilities and expand access to care.

Founder Chairman Azad Moopen said the strong voting outcome signals investor confidence in the deal’s long-term value.

The combined platform is expected to scale operations, invest in clinical infrastructure and improve service delivery across India’s healthcare market.

Aster currently operates 20 hospitals with 5,451 beds in India, along with clinics, pharmacies and diagnostic centres across five states.

The merger is part of a broader strategy to build a larger, integrated healthcare network capable of meeting rising demand for medical services in the country.