Moopen Family Ups Investment in Aster DM Healthcare, Signaling Trust in Business Growth
Aster DM Healthcare’s promoters, the Moopen family, have raised their stake in the India-listed company by 4%, moving from 37.88% to 41.88%. This increase was achieved by purchasing additional shares for Rs 460 Crore (Dh. 207 million) from a top private equity investor.
Founder Chairman and Managing Director Dr. Azad Moopen stressed the family’s unwavering commitment to the business, its patients, and employees. Aster DM Healthcare, with a turnover of Rs. 10,253 crore in FY 2021-22, is currently witnessing a thriving stage of growth, driven by active restructuring of its India and GCC businesses.
In India, new projects 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 the 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 expansion will make Aster 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 garnered 352,000+ downloads since its launch, will integrate the omnichannel healthcare delivery system, connecting all facilities for a seamless patient experience.