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Aster DM Healthcare

Health

Aster DM Healthcare Overview

Global healthcare conglomerate Aster DM Healthcare was founded in 1987 by Indian healthcare entrepreneur Azad Moopen.

Based in Dubai, the company has expanded its operations across the Middle East, with a strong presence across the six GCC countries and India.

Since its inception Aster DM Healthcare has been dedicated to delivering high-quality, affordable healthcare services, The company has established state-of-the-art hospitals, clinics and pharmacies, as well as introducing innovative healthcare solutions.

In 2018 Aster DM Healthcare successfully completed its IPO and listed on the National Stock Exchange of India (NSE) and the Bombay Stock Exchange (BSE).

In November 2023 the company decided to split its GCC and India operations into two separate businesses.

The decision was taken to provide greater strategic and financial flexibility for the individual businesses to meet the specific healthcare needs of patients in their respective markets.

As part of this strategy, Aster DM Healthcare agreed to sell a 65% stake in its Gulf business to a Dubai private equity firm for $1 billion. The Gulf business generates 70 percent of Aster’s revenues.

Aster DM Healthcare is planning to expand even further in Saudi Arabia. It wants to increase its current roster of 250 hospital beds in Riyadh to 1,000 beds to help meet the country’s increasing demand for affordable healthcare services.

Aster is also expanding in high-demand fields such as orthopedics, physical rehabilitation, women’s and children’s health, and general surgery.

Aster DM Healthcare News

Analysts hope to see more companies listing in both Dubai and Saudi Arabia in the future

More dual listings expected as IPO trend continues

Last year, eight companies launched initial public offerings (IPO) on the two main stock exchanges in the UAE, attracting more than $7 billion in investment. The same number could float this year and list in neighbouring Saudi Arabia, analysts say. UAE-based technology company Alpha Data has already announced plans to list 40 percent of its […]

Northern Emirates health insurance

Health insurance shake-up for care in Northern Emirates

Mandatory health insurance in the poorer Northern Emirates of the UAE is likely to lead to an expansion of healthcare facilities and increased M&A activity, experts have said.  In March last year the UAE announced a plan to introduce mandatory health insurance for all workers in the Northern Emirates – Sharjah, Ajman, Umm Al Quwain, […]

Senior services such as at-home healthcare visits for retirees will help to keep costs lower, experts say

Gulf’s growth in retirees drives demand for senior services

Changing demographics globally are paving the way for a new seniors industry in the Gulf. UAE-headquartered Aster DM Healthcare and Bahrain’s GFH Financial Investment Group are Gulf household names that have entered this fledgling but promising business with targeted medical and property services. The baby boomer generation now ranges between 60 and nearly 80 years […]

Aster saudi arabia

Aster DM Healthcare expects to close Saudi deals in months

Aster DM Healthcare is buying more clinics and hospitals in Saudi Arabia with some deals expected to close in the coming months.  The hospital operator, headquartered in Dubai, wants to increase its current roster of 250 hospital beds in Riyadh to 1,000 beds within the next three to four years to help meet the country’s […]

Dr. Sulaiman Al Habib's second-quarter net earnings rose 14 percent year on year to SAR555 million

Sulaiman Al Habib secures $347m loan for Saudi expansion

Dr Sulaiman Al Habib Medical Services Group Company has secured long-term financing to expand across Saudi Arabia amid growing competition for healthcare services in the kingdom. The company, which trades on the Saudi stock exchange, has signed a sharia-compliant credit facility worth SAR1.3 billion ($347 million) with Al Rajhi Bank, a Saudi-listed lender. The 13-year-long facility will […]

Aster DM Gulf unit explores $250m Saudi expansion

The UAE-based hospital chain Aster DM Healthcare’s Gulf unit is exploring acquisitions worth $250 million to expand its presence in Saudi Arabia. The deals will focus on medical centres and hospitals, Bloomberg reported, quoting Alisha Moopen, managing director and group CEO of Aster’s Gulf Cooperation Council unit.  These deals will be finalised in the next […]

Patients from the GCC are travelling to India, Thailand or Egypt for cheaper medical treatment

Affordable healthcare in the GCC: a prescription for profit

The GCC’s affordable healthcare market is ripe for investment, research suggests, as patients are forced to travel to India, Thailand or Egypt to find cheap treatment. Low-income inhabitants make up about 38 percent of the Gulf’s total population, according to Mansoor Ahmed, executive director for healthcare at Colliers Middle East in Dubai. The proportion ranges […]

Dr Azad Moopen, the founder chairman of Aster, retains 35 percent ownership alongside management and operational control

Aster DM completes GCC and India business split

Hospital chain Aster DM Healthcare has concluded the separation of its GCC and India businesses into two standalone entities.  As part of the separation plan, a consortium of investors led by Fajr Capital, a UAE sovereign-backed private equity firm, acquired a 65 percent stake in Aster GCC. Dr Azad Moopen, the founder chairman of Aster, […]

Aster expects the sale of its GCC business to be completed in the fourth quarter of 2024

Aster DM says India, GCC business split nears closure

Hospital chain Aster DM Healthcare has confirmed that the separation of its GCC and Indian businesses and the proposed investment in the former by a Dubai private equity firm are nearing completion.  The company agreed to sell a 65 percent stake in its Gulf business to a state-backed Fajr Capital-led consortium for $1 billion in November […]

Healthcare providers are struggling in a crowded market and facing rising costs a concerned doctor looks at a chart hospitals Dubai hospitals

Dubai hospitals are ailing in saturated healthcare market 

The general healthcare sector in Dubai is buckling under saturation, with weaker operators shutting down or battling financial woes, Dr Azad Moopen, the founder and chairman of Aster DM Healthcare, told AGBI. The healthcare sector in the emirate faces a challenging economic climate, marked by stubborn inflation, high interest rates and slow growth. The introduction […]