Dr. Azad Moopen with M.K. Stalin. Aster currently operates 14 hospitals in India. Image Credit: Supplied

Dubai: Healthcare provider Aster DM Healthcare will invest Rs 5 billion (Dh241 million) to set up hospitals, pharmacies and laboratories in Tamil Nadu, it said on Sunday, as it signed a Memorandum of Understanding with the state government.

The agreement was signed by Dr. Azad Moopen, Founder Chairman and Managing Director, Aster DM Healthcare, and Tamil Nadu Chief Minister M.K. Stalin in Dubai on Saturday.

The investment will help provide quality healthcare at affordable cost to the people of Tamil Nadu and is expected to generate employment for more than 3,500 people.

Currently, Aster has 14 hospitals, nine clinics and 66 labs and patient experience centres in India, with an approximate investment of Rs 30 billion.

Overall, the healthcare chain operates 27 hospitals, 118 clinics, 323 pharmacies and 66 labs and patient experience centres in seven countries.