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Aster DM Healthcare Spurts After Acquisition

Aster DM Healthcare rose 3.36% to Rs 166 after the company announced the acquisition of Abu Dhabi-based Wahat Al Aman Home Healthcare.

Wahat Al Aman Home Healthcare LLC, incorporated on 24 February 2019, operates home healthcare business in Abu Dhabi & Al Ain. In this model, the nurses/doctors are deputed at the homes of the patients to provide medical care.

The cost of acquisition is estimated to be 105 million Dirham. The acquisition will be EPS accretive and it will enhance Aster DM Healthcare’s presence in Abu Dhabi market, the company said in a statement issued after market hours on Tuesday.

The scrip clocked volumes of 31,000 shares on the BSE, which was 4.5 times its two-week average trading volume of 6885 shares.

Aster DM Healthcare is one of the largest private healthcare service providers operating in multiple GCC states and is an emerging healthcare player in India.

On a consolidated basis, the company’s net profit fell 71.7% to Rs 3.12 crore on a 13.6% increase in the net sales to Rs 2086.88 crore in Q2 September 2019 over Q2 September 2018.-Business Standard