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Aster DM Healthcare to invest Rs 235 crore to add 411 beds in India

Aster DM Healthcare is betting big on expanding its presence In India and will invest around Rs 235 crore to add 411 beds in the country in the next 18 months, company’s Founder Chairman and MD Azad Moopen said.

Apart from increasing the bed capacity, the company will also expand the number of labs and pharmacy distribution network in the country, he added.

Aster DM Healthcare, a leading private healthcare services provider, operating in the Gulf Cooperation Council (GCC) region and India, has 14 hospitals and 9 clinics in India.

“Aster DM Healthcare has taken a conscious decision to focus on expansion of our healthcare business in India in near future. This shall be achieved through full utilisation of our existingbeds in India along with adding many more beds,”Moopen told PTI.

To the existingcapacity of 3,757 beds in India, an addition of 411 beds is being planned in the next18 months. Total 60 beds are to be added in Kolhapur to the existing facility, 276 beds in Bengaluru and 75 beds in Kottakkal, he added.

“The estimated investment for the 411 beds would be Rs 235 crore,” Moopen said.

“In addition, we shall create a network of Aster labs and Aster Homecare along with a network of franchisee pharmacies to connect these. This will make an ecosystem along with Aster hospitals to provide primary to quaternary care to people in the South Indian states where we operate,” he added.

The company has 5 labs in India and 12 experience centers and looks to reach 21 labs and 200 experience centers by the end of the current financial year.

At present, there are 23 franchise pharmacies and the number is estimated to reach 130 by the end of 2021-22, Moopen said.

The company has posted a consolidated net profit of Rs59.60 crore for the quarter ended June 30, 2021. It incurred a net loss of Rs 88.59 crore in the year-ago period. Revenue from operations also rose to Rs 2,372 crore in the quarter. It was Rs1,747 crore in the same period a year ago. PTI