Dr Moopen’s family increases 4% stake in Aster Healthcare

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 Rs4.6 billion (Dhs207 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 India businesses both in terms of ownership and management.”

Aster DM Healthcare, with a turnover of Rs102.53 billion or Dhs5 billion in FY 2021-22, is performing very well this financial year in terms of turnover and profits. This is mainly due to restructuring of India and GCC businesses being pursued actively. In India, the company is moving ahead with new projects like 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.

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