Aster secures Dhs265m in financing from EDB

Aster DM Healthcare, one of the leading integrated healthcare providers in the UAE and GCC, has today announced a strategic partnership with Emirates Development Bank (EDB), the key financial engine of economic development and industrial advancement in the UAE, to secure Dhs265m in financing, with provision for additional upsising to support further projects.

The financing will be directed towards the development of two major multi-specialty hospitals in Dubai, as an effort to meet the rising demand for quality healthcare services among UAE’s growing population.

The agreement was signed by Dr. Azad Moopen, Founder Chairman of Aster DM Healthcare and Ahmed Mohamed Al Naqbi, CEO of Emirates Development Bank, in the presence of Alisha Moopen, Iqbal Khan and senior officials from both organisations.

Currently, Aster DM Healthcare in the UAE has a strong network of 10 hospitals with around 920 bed-capacity under the Aster and Medcare brands, 113 clinics and 298 pharmacies, along with a workforce of 2,036 doctors and 4,063 nurses and healthcare professionals, serving millions of patients each year.

The new facilities will add more than 250 beds and enabling treatment for over 560,000 patients annually. Once operational, the hospitals will collectively be home to over 675 doctors, nurses, and allied health professionals, contributing significantly to the local healthcare workforce and service capability.

EDB is the UAE’s development bank and a key financial engine driving economic growth and industrial advancement. Its mandate focuses on five priority sectors: manufacturing, advanced technology, food security, healthcare, and renewable energy.

By providing patient capital, innovative financing and non-financing solutions, and strategic partnerships, the Bank supports national diversification efforts, strengthens the private sector, and accelerates industrial transformation. Its impact is reflected in stronger local industries, new jobs, higher GDP contribution, and greater economic self-reliance.

The support to Aster follows its strong developmental impact in the UAE.

Aster’s GCC business continues to build momentum across all verticals - hospitals, clinics, and pharmacies - driven by operational excellence, strategic investments, and growing demand for quality care across the UAE and the wider region.

The growth acceleration follows Fajr Capital led consortium of investors acquiring 65% stake in Aster’s GCC business in 2024, while the Moopen family continues to operate and manage the business.