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Aster DM Gulf unit explores $250m Saudi expansion

By Pramod Kumar
Aster’s new hospital in Al Twar area of Dubai. The company plans to have more than 1,000 hospital beds, 180 pharmacies and more than two dozen medical centres across Saudi Arabia in the next three to five years

The UAE-based hospital chain Aster DM Healthcare’s Gulf unit is exploring acquisitions worth $250 million to expand its presence in Saudi Arabia.

The deals will focus on medical centres and hospitals, Bloomberg reported, quoting Alisha Moopen, managing director and group CEO of Aster’s Gulf Cooperation Council unit. 

These deals will be finalised in the next three to five years, she said. 

Moopen said that the company is currently evaluating several acquisitions without giving any names.

Aster intends to have more than 1,000 hospital beds, 180 pharmacies and more than two dozen medical centres across Saudi Arabia in the next three to five years.

The company already operates one hospital in Riyadh and plans to open 20 pharmacies in the coming months.

Moopen said the Gulf unit is expanding as plans are to take it public in the next few years.

In March, Aster confirmed the separation of its GCC and Indian businesses.

Dr Azad Moopen, the founder chairman of Aster, will continue to operate the GCC business, retaining a 35 percent stake in the company.  

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