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 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. In March 2015, the cricketer Sachin Tendulkar opened Aster DM Healthcare's 150th pharmacy in Abu Dhabi. Sachin Tendulkar is the brand ambassador of Aster Pharmacy and CSR activities.
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.
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. 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. 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. 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. 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. In May 2014, Olympus Capital Holdings Asia invested another $60 million into the company.
