Dr Azad Moopen and family increase stake in Aster DM Healthcare

Dr Azad Moopen and his family, the promoters of Aster DM Healthcare, have increased their shareholding in the healthcare organisation by 4%—from 37.88% to 41.88%. The family acquired this additional stake from an undisclosed private equity investor at an investment of AED 207 million. The healthcare company is now valued at $1.4 billion.

Moopen, Founder, Chairman, and Managing Director of Aster DM Healthcare, said, "The increase in the stake is a reiteration of our confidence in the business across geographies."

The NSE-listed company had a turnover of Rs 10,253 crore (AED 5 billion) in FY21-22. According to Aster DM, the company is performing well in this financial year and is looking at further growth with the restructuring of the GCC and India businesses.

Aster DM has rolled out 239 pharmacies and over 177 labs and patient experience centres across India. It has over 4,095 beds across 15 hospitals in the country and aims to reach 4,670 beds across 18 hospitals in the next financial year.

The company plans to set up new projects, including a 350-bedded Aster Capital Hospital in Thiruvananthapuram, Kerala; a 200-bedded Aster MIMS Hospital in Kasargod, Kerala; a 150-bedded Aster Narayanadri Hospital in Tirupati, Andhra Pradesh; and a 100-bedded Aster G Madegowda Hospital in Mandya, Karnataka.

Aster DM is also launching a 181-bed Aster Royal Hospital in Oman and a 101-bed Aster Hospital in Sharjah and acquiring a 126-bedded hospital in Al Qusais, which will be operational soon.

With these initiatives, Aster said it is on the path to becoming one of the largest healthcare providers in the GCC region with 15 hospitals, 113 clinics, and 257 pharmacies. The company also plans to roll out over 250 new Aster pharmacies across Saudi Arabia.

The company seeks to connect all these initiatives through its myAster app—which has 3.52 lakh downloads to date—to give "omnichannel care" to its customers.

Aster DM, which is present in seven countries across 828 establishments, employs 29,108 people and serves over 18 million patients a year, said a statement from the company.