Moopen Family Reinforces Commitment to Aster DM Healthcare with a 4% Stake Hike
The promoters of Aster DM Healthcare, the Moopen family, have increased their shareholding in the India-listed company by 4%, from 37.88% to 41.88%. This expansion resulted from acquiring additional shares worth Rs 460 Crore (Dh. 207 million) from a prominent private equity investor.
Dr. Azad Moopen, Founder Chairman and Managing Director, expressed the family’s strong commitment to the business, its patients, and employees. Aster DM Healthcare, with a revenue of Rs. 10,253 crore in FY 2021-22, is currently experiencing significant growth due to restructuring efforts in India and GCC.
The company has several upcoming projects in India, such as new hospitals in Trivandrum, Kasargod, Tirupati, and Mandya, as well as 239 Aster pharmacies and 177 Aster Labs & patient experience centers. 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.