Aster Healthcare to set up 5 new hospitals at Rs 1,000 crore

Aster DM Healthcare is planning to add over 2,000 beds at an investment of over Rs 1,000 crore in the next two to three years in five new properties outside Kerala.

The Kochi-based healthgroup is one of the few publicly traded hospital chains in the country. Aster will add one more facility each in Hyderabad, Bangalore and Chennai and two more in Andhra.

The group, which began in Dubai as a drug distributor in 1987, currently operates six hospitals in the country with 4,500 beds, of which 3,000 beds are in Kerala and the rest in three other states.

It also operates 1,000 beds across six hospitals in the Gulf which is its cash-cow with over 70 percent fo revenue flow, spanning all GCC countries.

A PTI report quoted Aster DM Healthcare founder and chairman Azad Moopen as saying: “We are investing over Rs 1,000 crore to add over 2,000 beds to our existing 4,500 beds in the next two-three years. These hospitals will be on an asset-light model, where we will be operating and managing the facility.”

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