Aster DM plans to invest Rs 950 crore on hospital projects

Aster DM Healthcare has decided to invest Rs 950 crore by the end of next financial year to set up new hospitals in India and Gulf region.

According to a Financial Chronicle report, DM healthcare add new hospitals, clinics and pharmacies in the current as well as next fiscal.

As far as India is concerned, the healthcare chain with operations in India and Gulf region will commission this year a Greenfield project – 200-bed multi-specialty hospital in Kerala’s Kannur district and a 220-bed hospital in Bangalore, which is under operation and management contract.

Azad Moopen, chairman of Aster DM Healthcare, said, “The total capex on the new projects is estimated to be Rs 950 crore. Of this, we will raise additional debt of Rs 150 crore and the rest will be funded through internal accruals.”

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