Dr. Moopen’s Family raises stake in Aster DM Healthcare by 4%, investing Rs 460 Crore (Dh 207 million)

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Aster DM Healthcare’s promoters have boosted their ownership in the publicly traded Indian firm by 4%, from 37.88% to 41.88%, after purchasing additional shares from a major private equity investor for Rs 460 Crore (Dh. 207 million).

Commenting on the increased shareholding, Dr. Azad Moopen, Founder Chairman and Managing Director of Aster DM Healthcare, stated, “Our amplified stake in Aster DM Healthcare underscores our faith in the business’s operations across regions and our dedication to the patients and employees who rely on us. As a family, we remain wholly devoted to Aster and pledge our ongoing engagement in GCC and India businesses in terms of both ownership and management.”

With a revenue of Rs. 10,253 crore or AED 5 billion in FY 2021-22, Aster DM Healthcare is experiencing an impressive growth stage this fiscal year, with increased turnover and profits due to the active restructuring of India and GCC operations. New projects in India include the 350-bedded Aster Capital Hospital in Trivandrum, Kerala, the 200-bedded Aster MIMS Hospital in Kasargod, Kerala, the 150-bedded Aster Narayanadri Hospital in Tirupati, Andhra Pradesh, and the 100-bedded Aster G Madegowda Hospital in Mandya, Karnataka. Additionally, 239 Aster pharmacies and 177 Aster Labs & patient experience centers have been launched. With 4,095 beds in 15 Indian hospitals and plans to increase to 4,670 beds in 18 hospitals next fiscal year, Aster will connect all facilities through the forthcoming myAster App, offering omnichannel care to customers.

Aster DM Healthcare is expanding its presence in GCC with the opening of the 181-bed Aster Royal Hospital in Oman, the 101-bed Aster Hospital in Sharjah, and the acquisition of a 126-bed hospital in Al Qusais, which will be operational soon. This will establish Aster as one of the largest healthcare providers in the region, with 15 hospitals, 113 clinics, and 257 pharmacies. The company is also planning to roll out 250 new Aster Pharmacies in Saudi Arabia. The myAster App, which has already seen 352,000+ downloads since its launch, will integrate the omnichannel healthcare delivery system.

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