Aster DM Healthcare

Aster DM Health Care
Private Limited
Traded as Aster DM Healthcare
Industry Conglomerate
Founder Dr. Azad Moopen
Headquarters Dubai, United Arab Emirates
Number of locations
 308 centres in 9 countries
Area served
 India, Middle East, Philippines
Services Health Care Services
Revenue Increase ₹676.66 billion (US$9.4 billion) (2017-18)[1]
Increase ₹3.08 billion (US$43 million) (2017-18)[1]
Increase ₹2.82 billion (US$39 million) (2017-18)[1]
Total assets Increase ₹748.42 billion (US$10 billion) (2017-18)[1]
Number of employees
 25,000 +
Divisions Conglomerate
Subsidiaries NABH, JCI, ISO, Aster Medcity
Website asterdmhealthcare.com

Aster DM Healthcare is privately held Indian conglomerate health care provider founded in 1987 by Azad Moopen who hails from Kerala, India. The company is headquartered in Dubai, United Arab Emirates. Aster DM Healthcare currently operates hospitals, diagnostic centers, medical centers, and pharmacies in the Middle East, India and the Philippines.

History

Aster DM Healthcare was founded in 1987 in Dubai, United Arab Emirates by Dr. Azad Moopen, a doctor turned entrepreneur. The company is a private sector healthcare provider in the Middle East. The Dubai-headquartered healthcare conglomerate covers an array of healthcare verticals, from hospitals, clinics, pharmacies, healthcare consultancy service, and an advanced Medical City.

In November 2014, Aster DM Healthcare finalized Bank of America Merrill Lynch, Goldman Sachs and Kotak Mahindra Bank to manage its Rs 1,200-crore initial public offering (IPO) scheduled for early next year. The company plans to sell 10% shares on the bourses though details of the same are not finalized yet. but sebi the regulator of Indian market asked the company to prove the overseas asset networth of the company.[2]

In March 2015, Sachin Tendulkar, the highest run-scorer in Test history, opened Aster DM Healthcare’s 150th pharmacy in Abu Dhabi.[3] Sachin Tendulkar is the brand ambassador of Aster Pharmacy and CSR activities.[4][5][6]

Business expansion

In May 2011, Aster DM Healthcare opened its first medical centre in Sharjah, United Arab Emirates. The new centre was officially inaugurated by the veteran Indian play back singer K. J. Yesudas in the presence of Chairman Dr. Moopen and various guests from the Government of Sharjah and Ministry of Health.[7]

In February 2013, Aster DM Healthcare announced the interest of investing in the Philippines' healthcare sector. Initially, the company would start with the establishment of pharmacies and possibly hospitals in the later time. Chairman Dr. Azad Moopen told reporters in a press conference for the launch of the DM Healthcare Foundation Philippines Inc., which is providing free pediatric cardiac surgery to at least 50 Filipino children in two years.[8] In December, they launched its fifth Access Clinic in Jebel Ali Free Zone, or Jafza South, aimed at catering to the day-to-day healthcare needs of the employees in the neighborhood.[9]

In April 2014, the company announced the plans to establish help desks in Oman for 2 separate campuses of Aster Medcity, South Asia's largest quaternary care hospitals being set up in Thiruvananthapuram and Ernakulam, Kerala, India.[10]

In August 2016, the company has taken over Kavery Medical Institute, Bangaluru and renamed as Aster CMI Hospital, Bangaluru. It's planned for 509 beds and inaugurated by honorable cricketer Shri Sachin Tendulkar on 27 August 2016. In Bangaluru there are four clinics with complete day care facility.

Acquisitions

In 2012, Olympus Capital Holdings Asia bought a minority stake in Aster DM Healthcare for the amount of about $100 million. The company did not reveal the size of the acquired stake. However, they announced that Olympus Capital Holdings is now Aster DM Healthcare’s largest external investor and that its nominees will join the company’s board.[11] In May 2014, Olympus Capital Holdings Asia invested another $60 million round into the company.[12]

See also

References

  1. 1 2 3 4 "Auditor's Report on Consolidated Financial Results of Aster DM Healthcare Limited" (PDF). Retrieved 2018-09-09.
  2. ↑ Zachariah, Reeba; Kurian, Boby (4 November 2014). "Aster Health lines up 3 banks for Rs 1,200 crore IPO". India Times. Retrieved 30 March 2015.
  3. ↑ Iyer, Srinivasan (23 March 2015). "Sachin Tendulkar enthrals fans in Abu Dhabi as Aster DM Healthcare announces IPO plans". The National. Retrieved 30 March 2015.
  4. ↑ "Sachin Tendulkar, UAE healthcare offer over Rs 1 crore for needy in India | Latest News & Updates at Daily News & Analysis". dna. 2015-03-25. Retrieved 2017-01-16.
  5. ↑ "PUSH Integrated Communication Pvt Ltd". pushintcom.com. Retrieved 2017-01-16.
  6. ↑ "Sachin Tendulkar and Aster offer Rs 1.69 crore for needy". NRICafe.com. 2015-03-31. Retrieved 2017-01-16.
  7. ↑ "DM Healthcare's Aster brand debuts in Sharjah". TadeArabia. 16 May 2011. Retrieved 19 June 2014.
  8. ↑ "Middle East Health Care Provider Keen on Investing in RP". Manila Bulletin. 13 February 2013. Retrieved 19 June 2014.
  9. ↑ "Aster Launches Access Clinic in Jafza". Khaleej Times. 12 December 2013. Retrieved 19 June 2014.
  10. ↑ "Aster DM Healthcare to Start Helpdesks in Oman". The Week. 24 April 2014. Retrieved 19 June 2014.
  11. ↑ Joshi, Ashutosh (18 January 2012). "Olympus Capital Buys DM Healthcare Stake for $100 Million". The Wall Street Journal. Retrieved 19 June 2014.
  12. ↑ Cheung, Sonja (14 May 2014). "Asian Private Equity Fund Face Pressure to Invest Capital Hoard". The Wall Street Journal. Retrieved 19 June 2014.
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