Aster DM Healthcare has announced that it has secured a decisive 96.68% shareholder approval for its proposed merger with Quality Care India Limited (QCIL), along with strong backing from minority shareholders and creditors.
The endorsement follows overwhelming support for the share swap preceding the merger, signaling broad investor confidence in the transaction. The merger is expected to be finalized next quarter, pending remaining regulatory and NCLT approvals.
Commenting on the vote, Azad Moopen, Founder Chairman of Aster DM Healthcare, said: “The strong support from our shareholders reflects their confidence in the strategic rationale of this merger and the long-term value it will deliver.
"By bringing together Aster DM Healthcare and Quality Care India, we are building a scaled, future-ready healthcare platform with the clinical depth, operational strength and governance framework required to serve millions of patients across the country.
"This partnership combines Aster’s legacy of patient-centric care and physician leadership with the institutional strength and growth expertise of Blackstone. Together, we are well positioned to expand access to high-quality healthcare, invest in clinical excellence and innovation, and create one of India’s leading integrated healthcare networks.”
Once completed, the merged entity is set to become one of India’s top three hospital chains, with a presence across nine states and 28 cities. The combined platform will operate 39 hospitals with more than 10,625 beds, supported by over 36,307 employees and clinicians, serving millions of patients annually through hospitals, clinics, laboratories, and allied healthcare services.
India remains Aster’s largest growth market. The merged group plans to expand total bed capacity to approximately 14,710 in the coming years. Of the 4,080 new beds planned, Aster will contribute around 2,368, with QCIL driving the remainder. Aster’s expansion is backed by a capital outlay of roughly ₹2,300 crore, with ₹350 crore already invested in critical projects as of September 2025.
The expansion strategy includes greenfield projects and selective acquisitions, reinforcing Aster’s leadership in key states such as Kerala and Karnataka. Key upcoming projects include two new hospitals in Bengaluru—a 430-bed facility on Sarjapur Road and a 500-bed hospital in Yeshwanthpur—along with 350 beds at Aster CMI Hospital and 159 beds at Aster Whitefield.
In Kerala, the 263-bed Aster Kasaragod Hospital became operational in October 2025. The 454-bed greenfield Aster Capital Hospital in Trivandrum is under development, while Aster Medcity, Kochi is adding 100 beds. Other planned expansions include a 300-bed Women & Children’s Hospital in Hyderabad and a 75-bed addition at Aster Ramesh Hospital in Ongole.
