CCI approves proposed combination involving indirect subscription of over 30% of total number of issued shares of CitiusTech by Bain Capital and Bain Credit

The Competition Commission of India (CCI) approved the proposed combination involving the indirect subscription of over 30% of the total number of issued shares of CitiusTech by Bain Capital Investors, LLC (Bain Capital) and Bain Capital Credit Member, LLC and Bain Capital Credit Member II, Ltd. (Bain Credit), which represents approximately half the economic interest in CitiusTech (Proposed Combination).

Bain Capital: Bain Capital is a private equity investment firm that invests, through its family of funds, in companies across many industries, including information technology, healthcare, retail and consumer products, communications, financial and industrial/manufacturing.

Bain Credit: is a leading global credit specialist, which invests up and down the capital structure and across the spectrum of credit strategies, including leveraged loans, high-yield bonds, distressed debt, private lending, structured products, non-performing loans and equities. Its team of more than 240 professionals creates value through rigorous, independent analysis of thousands of corporate issuers around the world.

CitiusTech: CitiusTech holds approximately 80% interest in CitiusTech Healthcare Technology Private Limited (CT India) and does not have any business activities as such. CT India is a healthcare technology services and solutions provider. CT India provides healthcare software engineering, healthcare professional services, healthcare QA test automation, healthcare technology consulting, healthcare BI/ Analytics, and business and process outsourcing services in healthcare.

Detailed order of the CCI will follow.