Dr. Moopen’s Family increases their stake in Aster DM Healthcare by 4%, buying shares for AED 207 millionTue 28 Mar 2023
- The increase of 4% stake from 37.88% reaffirms the family’s commitment to the business in India and GCC
- Listed in India, the valuation of Aster DM Healthcare stands at USD $ 1.4 billion as on date
UAE: The promoters of Aster DM Healthcare have increased their shareholding in the India-listed company by 4% from 37.88% to 41.88%, after acquiring an additional stake from one of the large private equity investors at an additional investment of Rs 460 Crore (AED 207 million).
Speaking on the increase in stake, Dr. Azad Moopen, Founder Chairman and Managing Director of Aster DM Healthcare said, “The increase of our stake in Aster DM Healthcare is a reiteration of our confidence in the business across geographies and our commitment to the patients and employees who have placed their trust in us. As a family, we are fully committed to Aster and promise our continued involvement in GCC and Indian businesses both in terms of ownership and management.
Aster DM Healthcare, with a turnover of Rs. 10,253 crore or AED 5 billion in FY 2021-22, is performing very well during this FY in turnover and profits with an exciting stage of growth, due to the restructuring of India and GCC businesses being pursued actively. In India, we are moving ahead with new projects like the 350-bedded Aster Capital Hospital in Trivandrum – Kerala, 200-bedded Aster MIMS Hospital in Kasargod – Kerala, 150-bedded Aster Narayanadri Hospital in Tirupati – Andhra Pradesh, 100-bedded Aster G Madegowda Hospital in Mandya – Karnataka among others. We have also rolled out 239 Aster pharmacies and 177 Aster Labs & patient experience centers already. With 4,095 beds in 15 hospitals in India going up to 4,670 in 18 hospitals next financial year, Aster shall be connecting all the above through the myAster App that is going to be launched this year to give omni channel care to our customers.
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The launch of 181 bed Aster Royal Hospital in Oman, 101 bed Aster Hospital in Sharjah, and the acquisition of a 126 bedded hospital in Al Qusais which would be operational soon, will make Aster one of the largest healthcare providers in GCC with 15 hospitals, 113 clinics, and 257 pharmacies. The company has embarked on a plan to roll out 250 new Aster Pharmacies in the Kingdom of Saudi Arabia. The Omni channel healthcare delivery is being tied up with the myAster App which has already received 352,000+ downloads within a short period since its launch.
Aster DM Healthcare, with its presence in 7 countries and 828 establishments employs 29,108 people and serves over 18 million patients a year.”