Azad Moopen’s family hikes stake in Aster DM Healthcare by 4%

Dubai: The promoters of Aster DM Healthcare have increased their shareholding in the India-listed company by 4 per cent from 37.88 per cent to 41.88 per cent, after acquiring additional stake from one of the large private equity investors at an additional investment of Rs 4.6 billion (Dh 207 million).

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 India businesses both in terms of ownership and management.

Aster DM Healthcare reported a turnover of Rs 102.53 billion or Dh5 billion in FY 2021-22.

In India, the group is moving ahead with new projects like a 350-bed Aster Capital Hospital in Trivandrum, Kerala, 200-bed Aster MIMS Hospital in Kasargod, Kerala, 150-bed Aster Narayanadri Hospital in Tirupati, Andhra Pradesh, 100-bed Aster G Madegowda Hospital in Mandya, Karnataka among others. Aster has also rolled out 239 Aster pharmacies and 177 Aster Labs & patient experience centres.

The launch of 181-bed Aster Royal Hospital in Oman, 101-bed Aster Hospital in Sharjah and the acquisition of a 126-bed hospital in Al Qusais 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 Saudi Arabia.