Aster DM Healthcare has announced the separation of its GCC and India businesses into two distinct and standalone entities.
Under the separation plan, a consortium of investors led by Fajr Capital, a sovereign-backed private equity firm, has acquired a 65 per cent stake in Aster GCC, with the Moopen family retaining a 35pc stake alongside management and operational rights.
The transaction which valued the GCC business at an equity value of around $1 billion has now concluded.
Founded in 1987 by Dr Azad Moopen, Aster was established as a single clinic in Dubai, driven by a vision to make high- quality healthcare accessible to every patient.
The company has since grown to become one of the most trusted healthcare brands in the GCC and India, with its GCC network comprising 15 hospitals, 117 clinics and 285 pharmacies, spread across the UAE, Saudi Arabia, Oman, Qatar and Bahrain.
Today, Aster is a leading integrated healthcare provider which continues to innovate and evolve to cater to the diverse healthcare needs of patients through its three brands – Aster, Medcare and Access.
In November 2023, the company obtained board approvals to separate its GCC and India businesses to establish two distinct healthcare champions that will benefit from the strategic and financial flexibility to meet the priorities of patients and focus on the growing demand in their respective markets.
The plan was also approved by the company’s shareholders in January 2024. The transaction was subject to customary regulatory approvals and closing conditions, all of which have been satisfied and concluded.
Dr Moopen will remain the founder chairman and Alisha Moopen will serve as the managing director and group chief executive of Aster GCC.
The Moopen family will continue to retain operational control of the company.
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