Blackstone Inc. (NYSE:BX) is the only contender left in the race to acquire CARE Hospitals Private Limited for INR 78,000 - INR 80,000 million in what would be one of the biggest healthcare buyouts in the country. Blackstone's offer trumps a competing bid from Sheares Healthcare Management. The two had made the final shortlist, but Sheares eventually opted out, sources told ET Rothschild and Barclays are advising TPG Capital, L.P. on the sale process.

ET in its November 7, 2022 edition was the first to report about Blackstone and Sheares emerging as frontrunners in a keenly contested bidding process that had also drawn CVC Capital Partners Limited, Torrent Investments Private Limited (Torrent Group) and The Carlyle Group Inc. (NasdaqGS:CG) among others. As the sole bidder, Blackstone has now raised some concerns during its diligence over Care's Bangladesh assets. Blackstone did not respond to ET's mail.

A TPG spokesperson declined to comment.