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Dr Azad Moopen

Dr Moopen’s family raises stake in Aster investing $56.37m

ABU DHABI, March 29, 2023

The promoters of Aster DM Healthcare have increased their stake investing AED207 million ($56.37 million) in the India listed firm by 4%, from 37.88% to 41.88%, after acquiring additional stake from a large private equity investor.
 
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 Rs10,253 crore or AED5 billion in FY 2021-22, is performing very well during this FY in turnover and profits. It is at an exciting stage of growth with the restructuring of India and GCC businesses. In India the firm is moving ahead with new projects such as the 350-bed Aster Capital Hospital in Trivandrum - Kerala, 200-bed Aster MIMS Hospital in Kasargod - Kerala, 150-bed Aster Narayanadri Hospital in Tirupati – Andhra Pradesh, 100-bed Aster G Madegowda Hospital in Mandya – Karnataka among others. 
 
myAster App
The company has also rolled out 239 Aster pharmacies and 177 Aster Labs & patient experience centres already. With 4,095 beds in 15 hospitals in India going up to 4,670 in 18 hospitals next financial year, Aster will be connecting all the above through the myAster App that is going to be launched this year to give omni channel care to its customers, he said. 
 
The launch of 181-bed Aster Royal Hospital in Oman, 101-bed Aster Hospital in Sharjah and the acquisition of a 126-bed hospital in Al Qusais which would be operational soon, will make Aster one of the largest healthcare providers in the 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 Omni channel 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 with 828 establishments employs 29,108 people and serves over 18 million patients a year, he added.-- TradeArabia News Service
 



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