Indian private hospital chain Aster DM Healthcare has confirmed plans to invest up to Rs9bn ($108m) to expand its operating presence across India.
The company said it intends to position itself as one of the top three hospital chains in India by fiscal year 2027 (FY 2027) by adding 1,500 beds.
The expansion plan includes investing in the upcoming Aster Capital in Trivandrum, Kerela, which is expected to feature more than 350 beds in the initial phase by FY 2026, and Aster MIMS Kasargod, Kerela, which will have a bed capacity of more than 200.
In addition, the company aims to increase the existing bed capacities of its hospitals in Medcity and MIMS Kannur by 100 each, as well as add 159 beds at its Aster Whitefield facility.
The announcement comes as Aster DM is on the verge of completing the separation of its India and the Gulf Cooperation Council (GCC) businesses and has also reached the final stage of the proposed investment in its GCC business by a consortium led by UAE-based Fajr Capital.
A definitive agreement was reached for a Fajr Capital-led consortium to acquire a 65% stake in the GCC business. This plan received shareholder endorsement in January 2024.
The Moopen family will maintain a 35% stake in the GCC business and continue to operate it.
Aster DM’s expansion plans for GCC include opening the 126-bed super-speciality Medcare Royal Hospital in Al Qusais, UAE, and increasing the bed capacity at Aster Sanad Hospital in Riyadh, Saudi Arabia.
Aster GCC business managing director and CEO Alisha Moopen said: “With most of the processes near closure and necessary approvals in place, we are almost at the closure of the transaction and ready to embark on the next stage of our growth journey which would see us expand our presence in Saudi Arabia and further strengthen our footprint in UAE, Oman and Qatar.”
