Blackstone has acquired a majority stake in CARE Hospitals from Evercare, a platform of TPG RISE funds.

CARE Hospitals will also acquire a majority stake in KIMSHEALTH, from private equity firm True North.

The mega deal, which is pegged at over $1 billion, will create one of India’s largest hospital chains with a combined network of 23 hospitals, as per media reports.

Trilegal advised Blackstone in this acquisition deal.

Shardul Amarchand Mangaldas & Co acted as the legal counsel for TPG as well as KIMSHEALTH in this deal.

Transaction team: Abhishek Guha – Partner, Jagriti Mohata – Partner, Reshma Simon - Senior Associate, Reeya Benedict - Senior Associate, Disha Basnet - Associate

Anti-trust team: Gauri Chhabra – Partner, Eesha Sheth - Associate

Dispute related advisory: Shreya Gupta – Partner, Aashish Gupta - Partner, Aditya Mukherjee - Partner, Juhi Gupta - Principal Associate, Aditya Thyagarajan – Associate

Shardul Amarchand Mangaldas represented TPG too.

Transaction team: Iqbal Khan- Partner, Ambarish - Partner, Tanavi Mohanty -Partner, Devika Menon-Principal Associate, Subbalaxmi S- Senior Associate, Krishaal Morjaria- Senior Associate, Shachi Kalani-Associate.

Desai & Diwanji acted for True North in this deal.

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