Aster DM Healthcare

Aster DM Healthcare is a publicly traded 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 centres, medical centres and pharmacies in the Middle East andIndia.

Aster DM Health Care
Public Limited
Traded asAster DM Healthcare
IndustryHealthcare Conglomerate
Founded1987 
FounderAzad Moopen
Headquarters
Dubai
,
United Arab Emirates
Number of locations
377 Establishments in 8 countries
Area served
India, Middle East
ServicesHealth Care Services and retailing
RevenueINR 79.97 Billion (2018-2019)
INR 5.90 Billion (2018-2019)
INR 3.67 Billion (2018-2019)
Total assetsINR 36.80 Billion (2018-2019)
Number of employees
20,790
DivisionsHospitals, Clinics and Pharmacies
SubsidiariesNABH, JCI, ISO, Aster Medcity
Websiteasterdmhealthcare.com

History

Aster DM Healthcare was founded in 1987 in Dubai, United Arab Emirates by 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 and healthcare consultancy service.

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.[1]

In March 2015, the cricketer Sachin Tendulkar opened Aster DM Healthcare's 150th pharmacy in Abu Dhabi.[2] Sachin Tendulkar is the brand ambassador of Aster Pharmacy and CSR activities.[3][4][5]

Aster Medcity

Aster Medcity is the flagship hospital of Aster DM Health Care. It is located in Kochi, India and was opened in 2015. At present, it is a 670 bed quaternary care healthcare centre in a 40-acre campus. The hospital plans to add 500 more beds in its second phase of expansion.[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 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. Moopen told reporters in a press conference for the launch of the DM Healthcare Foundation Philippines Inc., which is providing free paediatric 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 neighbourhood.[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 Kochi and Thiruvananthapuram in Kerala, India.[10]

In August 2016, the company has taken over Kavery Medical Institute, Bangaluru and renamed as Aster CMI Hospital, Bangaluru. Its plans for 509 beds and inaugurated by cricketer Sachin Tendulkar on 27 August 2016. In Bengaluru 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 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 into the company.[12]

See also

References
  1. 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.
  2. 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.
  3. "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.
  4. "PUSH Integrated Communication Pvt Ltd". pushintcom.com. Retrieved 2017-01-16.
  5. "Sachin Tendulkar and Aster offer Rs 1.69 crore for needy". NRICafe.com. 2015-03-31. Retrieved 2017-01-16.
  6. "Medcity — A big relief for advanced stage patients". Khaleej Times. 10 November 2014. Retrieved 4 July 2015.
  7. "DM Healthcare's Aster brand debuts in Sharjah". TadeArabia. 16 May 2011. Archived from the original on 14 July 2014. 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. Archived from the original on 15 November 2018. Retrieved 19 June 2014.
  10. "Aster DM Healthcare to Start Helpdesks in Oman". The Week. 24 April 2014. Archived from the original on 24 September 2015. 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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