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{{Short description|Healthcare company in Gulf countries and India}}
{{Use dmy dates|date=June 2022}}
{{Use Indian English|date=June 2022}}
{{Infobox company
{{Infobox company
| name = Aster DM Healthcare Limited
| name = Aster DM Healthcare Limited
| logo = File:ASTER DM HEALTHCARE LOGO.jpg
| logo = Aster DM Healthcare Logo.svg
| logo_caption = Aster DM Health Care
| logo_caption = Aster DM Healthcare
| image =  
| image =  
| image_caption =  
| image_caption =  
| type = [[Public]]
| former_name = Dr. Moopen's Clinic
| type = [[Public company|Public]]
| traded_as = {{BSE|540975}}<br />{{NSE|ASTERDM}}
| traded_as = {{BSE|540975}}<br />{{NSE|ASTERDM}}
| ISIN     = INE914M01019
| ISIN = INE914M01019
| former_name = Dr.Moopen's Clinic
| industry = [[Healthcare]]
| industry = [[Healthcare]]
| founder = [[Azad Moopen]]
| founder = [[Azad Moopen]]
| location_city = [[Dubai]]
| location =
| location_country = [[UAE]]
| location_city = [[Bengaluru]], India<ref>{{cite news |title=Aster DM shifts registered office from Kerala to Karnataka |url=http://www.pharmabiz.com/NewsDetails.aspx?aid=138448&sid=2 |access-date=14 July 2023 |work=Pharmabiz}}</ref>
| locations = 377 Establishments in 8 countries
| location_country =  
| area_served = [[India]], [[Middle East]], [[South East Asia]], [[Cayman Islands]]
| area_served = Worldwide
| num_employees = 38,000
| products = [[Hospitals]], [[Pharmacy]], [[Medical diagnosis|Diagnostic centre]]s
| revenue = US$5.08 Billion (2018-2019)
| revenue = {{up}} {{INRconvert|4138|c}} (FY25)<ref name="fy25">{{cite news |title=Aster DM Healthcare records PAT of ₹106 crore in Q4FY25 |url=https://www.thehindubusinessline.com/news/aster-dm-healthcare-records-pat-of-106-crore-in-q4-fy25/article69601731.ece |access-date= |work=The Hindu Businessline |date= |language=en}}</ref>
| operating_income = US$890.1 Million (2018-2019)
| operating_income = {{up}} {{INRconvert|1565|c}} (FY23)<ref name="fy23">{{cite news |title=Aster DM Healthcare's Q4 PAT drops 24% to ₹171 crore |url=https://www.thehindubusinessline.com/companies/aster-dm-healthcares-q4-pat-drops-24-to-171-crore/article66896118.ece |access-date=14 July 2023 |work=The Hindu Businessline |date=26 May 2023 |language=en}}</ref>
| net_income = US$490.8 Million (2018-2019)
| net_income = {{increase}} {{INRconvert|5407|c}} (FY25)<ref name="fy25"/>
| assets = US$500 Million (2018-2019)
| assets = US$3.81 billion (2023)<ref name="assets">{{Cite web|url=https://www.moneycontrol.com/india/stockpricequote/diversified/asterdmhealthcareltd/ADH |title=Financials }}</ref>
| equity =  
| equity =  
| divisions = Hospitals, Clinics, Pharmacy, Labs, Homes, Retail, Online,Diagnostic Centre,College,School,Telemedicine,Opticals
| owner = Moopen family (41.88%)<ref>{{cite news |title=Dr Azad Moopen's family picks up 4% more stake in Aster DM Healthcare |url=https://www.moneycontrol.com/news/business/dr-azad-moopens-family-buys-additional-4-stake-in-aster-dm-healthcare-10326581.html |access-date=16 July 2023 |work=Moneycontrol |date=28 March 2023 |language=en}}</ref>
| homepage = {{URL|asterdmhealthcare.com}}
| num_employees = 32,400 (2022)<ref name="bwi">{{Cite web |title=Aster Labs Expanding Its Stronghold in India |url=https://www.businesswireindia.com/aster-labs-expanding-its-stronghold-in-india-77618.html |access-date=2022-09-22 |website=www.businesswireindia.com |language=en}}</ref>
| subsid = {{ubl|Aster Medcity|Aster Pharmacy|Aster Labs|Dr. Moopen's Medical College}}
| homepage = {{URL|asterdmhealthcare.in}}
}}
}}
'''Aster DM Healthcare Limited''' is a publicly traded [[India]]n [[Conglomerate (company)|conglomerate]] health care provider founded in 1987 by [[Azad Moopen]] who hails from [[Kerala]], [[India]]. The company is registered in India . Aster DM Healthcare currently operates hospitals, diagnostic centres, medical centres and pharmacies in the [[India]] and [[Middle East]].
'''Aster DM Healthcare Limited''' is an Indian healthcare company founded by [[Azad Moopen]] in 1987. The company is registered in [[Bengaluru]], which became the headquarters for its India operations following the separation of its [[Gulf Cooperation Council]] (GCC) business in 2024. Aster operates a network of hospitals, clinics, pharmacies, and diagnostic centres across several Indian states.<ref>{{Cite web |title=India's Strategic Expansion and Merge Fuels Growth |url=https://www.hdfcsec.com/hsl.docs//Aster%20DM%20-%20IC%20-%20HSIE-202506201055355322533.pdf?t=21062025120057057 |website=HDFC Sec}}</ref>


==History==
== History ==


Aster DM Healthcare was founded in 1987 in Dubai, United Arab Emirates by [[Azad Moopen]], a doctor turned entrepreneur. The company is a private sector healthcare provider in the [[Middle East]]. The India registered healthcare conglomerate covers an array of healthcare verticals, from hospitals, clinics, pharmacies and healthcare consultancy service.
Aster DM Healthcare was established by [[Azad Moopen]] in 1987 as a single-doctor clinic.<ref>{{Cite news |last=Mishra |first=Lalatendu |date=2019-12-21 |title=‘We’re adding one hospital in India every year’ |url=https://www.thehindu.com/business/Industry/were-adding-one-hospital-in-india-every-year/article30368808.ece |access-date=2025-11-15 |work=The Hindu |language=en-IN |issn=0971-751X}}</ref> The organisation gradually expanded through hospitals, clinics, pharmacies, diagnostics, and training institutions.<ref name=":02">{{cite web |date=12 December 2013 |title=Aster Launches Access Clinic in Jafza |url=http://www.highbeam.com/doc/1G1-352688245.html |url-status=dead |archive-url=https://web.archive.org/web/20181115054523/https://www.highbeam.com/doc/1G1-352688245.html |archive-date=15 November 2018 |accessdate=19 June 2014 |newspaper=[[Khaleej Times]]}}</ref> Its formal presence in India began in 2001 with the [[Aster MIMS|Malabar Institute of Medical Sciences]] (MIMS) in [[Kozhikode|Kozhikode, Kerala]], which was later integrated into the Aster network.<ref>{{Cite web |date=2011-03-24 |title=Dr Azad Moopen to be presented Padma Shri |url=https://indianexpress.com/article/cities/delhi/dr-azad-moopen-to-be-presented-padma-shri/ |access-date=2025-11-15 |website=The Indian Express |language=en}}</ref><ref name=":12">{{Cite web |title=Aster DM Healthcare Ltd. |url=https://www.hdfcsec.com/hsl.research.pdf/HSL_Pick%20of%20the%20week%20-%20Aster%20DM%20Healthcare%20281024%20Final%20Signed.pdf |website=HDFC Securities (research report)}}</ref><ref>{{cite web |date=24 April 2014 |title=Aster DM Healthcare to Start Helpdesks in Oman |url=http://www.highbeam.com/doc/1G1-367098294.html |url-status=dead |archive-url=https://web.archive.org/web/20150924154826/http://www.highbeam.com/doc/1G1-367098294.html |archive-date=24 September 2015 |accessdate=19 June 2014 |magazine=[[The Week (Indian magazine)|The Week]]}}</ref>


In November 2014, Aster DM Healthcare finalized [[Bank of America Merrill Lynch]], [[Goldman Sachs]] and [[Kotak Mahindra Bank]] to manage its Rs 1,200-crore initial public offering (IPO) scheduled for early next year. The company plans to sell 10% shares on the bourses though details of the same are not finalized yet. but sebi the regulator of Indian market asked the company to prove the overseas asset networth of the company.<ref>{{cite web | url=http://timesofindia.indiatimes.com/business/india-business/Aster-Health-lines-up-3-banks-for-Rs-1200-crore-IPO/articleshow/45029785.cms | title=Aster Health lines up 3 banks for Rs 1,200 crore IPO | newspaper=[[India Times]] | date=4 November 2014 | accessdate=30 March 2015 |author1=Zachariah, Reeba |author2=Kurian, Boby }}</ref>
In 2014, the company opened Aster Medcity in [[Kochi]].<ref>{{Cite news |date=2023-11-28 |title=Aster DM sells stake in its Gulf business for $1.01 billion |url=https://economictimes.indiatimes.com/industry/healthcare/biotech/aster-dm-sells-stake-in-its-gulf-business-for-1-01-billion/articleshow/105568929.cms?from=mdr |access-date=2025-11-15 |work=The Economic Times |issn=0013-0389}}</ref> In 2016, it acquired Kavery Medical Institute in Bengaluru, redeveloping it as Aster CMI Hospital.<ref>{{Cite news |date=2014-09-12 |title=IPO-bound Aster strikes deals for B'lore, Hyderabad foray |url=https://timesofindia.indiatimes.com/business/india-business/ipo-bound-aster-strikes-deals-for-blore-hyderabad-foray/articleshow/42296911.cms |access-date=2025-11-15 |work=The Times of India |issn=0971-8257}}</ref> The same year, it took over the DM Wayanad Institute of Medical Sciences<ref>{{Cite web |date=2019-04-06 |title=First batch of doctors graduates from Wayanad Medical College |url=https://www.newindianexpress.com/kochi/2019/Apr/05/first-batch-of-doctors-graduates-from-wayanad-medical-college-1960797.html |access-date=2025-11-15 |website=The New Indian Express |language=en}}</ref> and acquired a majority stake in Dr. Ramesh Hospitals in Andhra Pradesh.<ref>{{Cite web |title=Aster DM Healthcare picking majority stake in PE-backed Ramesh Hospitals |url=https://www.vccircle.com/exclusive-aster-dm-healthcare-picking-majority-stake-pe-backed |access-date=2025-11-15 |website=VCCircle |language=en-US}}</ref> In 2018, Aster added Sangamitra Hospitals to its network<ref>{{Cite web |date=2018-04-01 |title=Ramesh Hospitals acquires Ongole's Sanghamitra Hospital |url=https://www.newindianexpress.com/states/andhra-pradesh/2018/Apr/01/ramesh-hospitals-acquires-ongoles-sanghamitra-hospital-1795432.html |access-date=2025-11-15 |website=The New Indian Express |language=en}}</ref> and launched an initial public offering, with shares subsequently listed on Indian stock exchanges.<ref name=":12" />


In March 2015, the cricketer [[Sachin Tendulkar]] opened Aster DM Healthcare's 150th pharmacy in Abu Dhabi.<ref>{{cite web |url= http://www.thenational.ae/business/economy/sachin-tendulkar-enthrals-fans-in-abu-dhabi-as-aster-dm-healthcare-announces-ipo-plans |title= Sachin Tendulkar enthrals fans in Abu Dhabi as Aster DM Healthcare announces IPO plans |newspaper= The National |date=23 March 2015 |accessdate=30 March 2015 |author= Iyer, Srinivasan}}</ref> [[Sachin Tendulkar]] was the brand ambassador of Aster Pharmacy and CSR activities.<ref>{{Cite news |url= http://www.dnaindia.com/india/report-sachin-tendulkar-uae-healthcare-offer-over-rs-1-crore-for-needy-in-india-2071874 |title=Sachin Tendulkar, UAE healthcare offer over Rs 1 crore for needy in India {{!}} Latest News & Updates at Daily News & Analysis|date=2015-03-25|newspaper=dna|language=en-US|access-date= 2017-01-16}}</ref><ref>{{Cite web |url= http://pushintcom.com/aster_healthcare.html |title=PUSH Integrated Communication Pvt Ltd |website= pushintcom.com |access-date=2017-01-16}}</ref><ref>{{Cite news |url= http://nricafe.com/sachin-tendulkar-and-aster-offer-rs-1-69-crore-for-needy/|title=Sachin Tendulkar and Aster offer Rs 1.69 crore for needy |date=2015-03-31 |newspaper= NRICafe.com |access-date= 2017-01-16}}</ref>
New facilities established in the following years included Aster MIMS Kannur and Aster RV Hospital in Bengaluru in 2019.<ref>{{Cite web |last=Varghese |first=Joseph |date=2019-12-25 |title=Aster India offers quality medical tourism for Qataris, residents |url=https://www.gulf-times.com/story/651637/aster-india-offers-quality-medical-tourism-for-qataris-residents |access-date=2025-11-15 |website=Gulf Times |language=en}}</ref> In 2021, the company opened a hospital in Kottakkal focused on women and children, followed by Aster Whitefield in Bengaluru in 2023.<ref name=":12" /><ref>{{Cite web |last=Sharma |first=Neetu Chandra |date=2021-11-25 |title=‘Our India strategy involves focused clusters and new revenue streams’ {{!}} Today News |url=https://www.livemint.com/news/india/our-india-strategy-involves-focused-clusters-and-new-revenue-streams-11637782106976.html |access-date=2025-11-15 |website=mint |language=en}}</ref>


==Aster Medcity==
In November 2023, Aster DM Healthcare announced a plan to separate its GCC and India businesses.<ref name=":22">{{Cite web |date=2024-04-04 |title=Aster DM Healthcare concludes separation of GCC & India businesses |url=https://mededgemea.com/aster-dm-healthcare-concludes-separation-of-gcc-and-india/ |access-date=2024-12-27 |website=MedEdge |language=en-US}}</ref> The demerger was approved in January 2024. In April 2024, a consortium led by Fajr Capital acquired a 65% stake in Aster GCC, while the Moopen family retained 35% and operational control. Within India, the Moopen family continued to hold a 41.88% stake in Aster DM Healthcare.<ref>{{Cite web |last=Kumar |first=Chitranjan |date=2024-03-27 |title=Aster DM Healthcare shares fall 7% amid block deal |url=https://www.fortuneindia.com/investing/aster-dm-healthcare-shares-fall-7-amid-block-deal/116257 |access-date=2025-11-15 |website=Fortune India |language=en}}</ref> The company's subsidiary, Affinity Holdings, received {{USD}}907.6 million from the transaction.<ref>{{Cite web |title=Fajr Capital-led consortium completes investment in Aster GCC - Fajr Capital |url=https://fajrcapital.com/news/fajr-capital-led-consortium-completes-investment-in-aster-gcc/ |access-date=2025-11-15 |language=en}}</ref><ref>{{Cite web |title=Aster DM's deal to separate India and GCC businesses nears completion |url=https://www.business-standard.com/companies/news/aster-dm-s-deal-to-separate-india-and-gcc-businesses-nears-completion-124032100860_1.html |website=Business Standard}}</ref><ref>{{Cite news |date=2024-04-04 |title=Aster DM healthcare separates its GCC and India operations |url=https://timesofindia.indiatimes.com/city/kochi/aster-dm-healthcare-separates-its-gcc-and-india-operations/articleshow/109043777.cms |access-date=2025-11-15 |work=The Times of India |issn=0971-8257}}</ref>


[[Aster Medcity]] is the flagship hospital of Aster DM Health Care. It is located in [[Kochi]], [[India]] and was opened in 2015. At present, it is a 670 bed quaternary care healthcare centre in a 40-acre campus. The hospital plans to add 500 more beds in its second phase of expansion.<ref>{{cite web | url=http://www.khaleejtimes.com/mobile/inside.asp?xfile=/data/international/2014/November/international_November202.xml&section=international | title=Medcity — A big relief for advanced stage patients | publisher=Khaleej Times | date=10 November 2014 | accessdate=4 July 2015}}</ref>
In November 2024, Aster announced a merger with Quality Care India Ltd. (QCIL),<ref>{{Cite news |date=2024-11-30 |title=Aster DM Healthcare, Quality Care India ink merger deal |url=https://timesofindia.indiatimes.com/business/india-business/aster-dm-healthcare-quality-care-india-ink-merger-deal/articleshow/115826289.cms |access-date=2025-11-15 |work=The Times of India |issn=0971-8257}}</ref><ref>{{Cite web |date=2024-11-30 |title=With 14,000 beds, we will become one of the largest healthcare providers in India, says Alish Moopen - BusinessToday |url=https://www.businesstoday.in/industry/pharma/story/with-14000-beds-we-will-become-one-of-the-largest-healthcare-providers-in-india-says-alish-moopen-455745-2024-11-30 |access-date=2025-11-15 |website=Business Today |language=en}}</ref> to form Aster DM Quality Care Ltd.<ref>{{Cite news |date=2024-11-29 |title=Aster and quality care merge to create one of the top 3 hospital chains in India |url=https://timesofindia.indiatimes.com/business/india-business/aster-and-quality-care-merge-to-create-one-of-the-top-3-hospital-chains-in-india/articleshow/115816115.cms |access-date=2025-11-15 |work=The Times of India |issn=0971-8257}}</ref><ref>{{Cite news |last=Mishra |first=Lalatendu |date=2024-11-30 |title=‘Our goal is to become the finest healthcare institution in India’ |url=https://www.thehindu.com/business/our-goal-is-to-become-the-finest-healthcare-institution-in-india/article68931383.ece |access-date=2025-11-15 |work=The Hindu |language=en-IN |issn=0971-751X}}</ref>


==Business expansion==
In 2025, the company opened a 100-bed hospital in [[Sharjah]]<ref>{{Cite web |title=Sultan bin Ahmed Al Qasimi inaugurates Aster Hospital Sharjah |url=https://www.wam.ae/en/article/hszrfp0u-sultan-bin-ahmed-qasimi-inaugurates-aster-hospital |website=Emirates News Agency}}</ref> and a 264-bed Aster MIMS hospital in [[Kasaragod]], [[Kerala]].<ref>{{Cite news |date=2025-10-02 |title=Aster DM Healthcare launches ₹190-crore multispecialty hospital in Kasaragod |url=https://www.thehindu.com/news/national/kerala/aster-dm-healthcare-launches-195-crore-multispecialty-hospital-in-kasaragod/article70117772.ece |access-date=2025-11-15 |work=The Hindu |language=en-IN |issn=0971-751X}}</ref> It increased its stake in Dr. Ramesh Cardiac and Multispecialty Hospital Private Limited to 70.49%.<ref>{{Cite web |date=2025-09-03 |title=Aster DM Healthcare acquires additional 13% stake in Aster Ramesh Hospitals |url=https://www.expresshealthcare.in/news/aster-dm-healthcare-acquires-additional-13-stake-in-aster-ramesh-hospitals/450496/ |access-date=2025-11-22 |website=Express Healthcare |language=en-US}}</ref>
In May 2011, Aster DM Healthcare opened its first medical centre in [[Sharjah (city)|Sharjah]], United Arab Emirates. The new centre was officially inaugurated by the veteran Indian play back singer [[K. J. Yesudas]] and various guests from the Government of Sharjah and Ministry of Health.<ref>{{cite web | url=http://www.highbeam.com/doc/1G1-257550220.html | archive-url=https://web.archive.org/web/20140714121934/http://www.highbeam.com/doc/1G1-257550220.html | url-status=dead | archive-date=14 July 2014 | title=DM Healthcare's Aster brand debuts in Sharjah | publisher=TadeArabia | date=16 May 2011 | accessdate=19 June 2014}}</ref>


In February 2013, Aster DM Healthcare announced the interest of investing in the Philippines' healthcare sector. Initially, the company would start with the establishment of pharmacies and possibly hospitals in the later time. Moopen told reporters in a press conference for the launch of the DM Healthcare Foundation Philippines Inc., which is providing free paediatric cardiac surgery to at least 50 Filipino children in two years.<ref name="manila">{{cite web | url=https://www.questia.com/read/1G1-323964499/middle-east-health-care-provider-keen-on-investing | title=Middle East Health Care Provider Keen on Investing in RP | newspaper=[[Manila Bulletin]] | date=13 February 2013 | accessdate=19 June 2014}}</ref> In December, they launched its fifth Access Clinic in Jebel Ali Free Zone, or Jafza South, aimed at catering to the day-to-day healthcare needs of the employees in the neighbourhood.<ref>{{cite web | url=http://www.highbeam.com/doc/1G1-352688245.html | archive-url=https://web.archive.org/web/20181115054523/https://www.highbeam.com/doc/1G1-352688245.html | url-status=dead | archive-date=15 November 2018 | title=Aster Launches Access Clinic in Jafza | newspaper=[[Khaleej Times]] | date=12 December 2013 | accessdate=19 June 2014}}</ref>
== Investors ==
In 2012, Olympus Capital Holdings Asia acquired a minority stake in Aster DM Healthcare for about {{USD}}100 million, becoming the company’s largest external investor.<ref>{{cite web |author=Joshi, Ashutosh |date=18 January 2012 |title=Olympus Capital Buys DM Healthcare Stake for $100 Million |url=https://blogs.wsj.com/dealjournalindia/2012/01/18/olympus-capital-buys-dm-healthcare-stake-for-100-million/ |accessdate=19 June 2014 |newspaper=[[The Wall Street Journal]]}}</ref> In May 2014, Olympus invested an additional {{USD}}60 million.<ref>{{cite web |author=Cheung, Sonja |date=14 May 2014 |title=Asian Private Equity Fund Face Pressure to Invest Capital Hoard |url=https://blogs.wsj.com/privateequity/2014/05/14/asian-private-equity-fund-face-pressure-to-invest-capital-hoard/ |accessdate=19 June 2014 |newspaper=The Wall Street Journal}}</ref> Olympus exited its investment in June 2024. Following the GCC–India separation, the Moopen family continues to hold 41.88% of the Indian business.<ref name=":32">{{Cite web |last= |first= |date=3 April 2024 |title=Aster DM Healthcare concludes separation of India and GCC businesses |url=https://www.business-standard.com/markets/capital-market-news/aster-dm-healthcare-concludes-separation-of-india-and-gcc-businesses-124040300562_1.html |archive-url=https://web.archive.org/web/20240524102202/https://www.business-standard.com/markets/capital-market-news/aster-dm-healthcare-concludes-separation-of-india-and-gcc-businesses-124040300562_1.html |archive-date=2024-05-24 |access-date=2024-12-27 |website=Business Standard |language=en-US}}</ref><ref name=":5">{{Cite news |last=Pilla |first=Viswanath |date=2024-04-03 |title=Aster DM completes separation of Gulf business, plans to add 1,700 beds in India in next 3 years |url=https://economictimes.indiatimes.com/industry/healthcare/biotech/healthcare/aster-dm-completes-separation-of-gulf-business-plans-to-add-1700-beds-in-india-in-next-3-years/articleshow/109003741.cms |access-date=2024-12-27 |work=The Economic Times |issn=0013-0389}}</ref>


In April 2014, the company announced the plans to establish help desks in [[Oman]] for 2 separate campuses of [[Aster Medcity]], South Asia's largest [[quaternary care]] hospitals being set up in [[Kochi]] and [[Thiruvananthapuram]] in [[Kerala]], [[India]].<ref>{{cite web | url=http://www.highbeam.com/doc/1G1-367098294.html | archive-url=https://web.archive.org/web/20150924154826/http://www.highbeam.com/doc/1G1-367098294.html | url-status=dead | archive-date=24 September 2015 | title=Aster DM Healthcare to Start Helpdesks in Oman | magazine=[[The Week (Indian magazine)|The Week]] | date=24 April 2014 | accessdate=19 June 2014}}</ref>
== Subsidiaries ==
[[File:Aster_MIMS_Kannur.jpg|thumb|[[Aster MIMS]] in [[Kannur]]]]
[[File:Aster_Medcity_Hospital_Entrance.jpg|thumb|[[Aster Medcity]] in [[Kochi]]]]
Aster DM Healthcare operates through multiple subsidiaries and affiliates, including 9 subsidiaries, 67 step-down subsidiaries, and 4 associate companies. Notable operations include:


In August 2016, the company has taken over Kavery Medical Institute, Bangaluru and renamed as Aster CMI Hospital, Bangaluru. Its plans for 509 beds and inaugurated by cricketer Sachin Tendulkar on 27 August 2016. In Bengaluru there are four clinics with complete day care facility.
* '''Aster Medcity, Kochi, Kerala''': Opened in 2015, this hospital is located on a 40-acre campus in Kochi, Kerala. At present, it is a 1745 bed quaternary care healthcare centre in a 40-acre campus.<ref>{{cite web |date=10 November 2014 |title=Medcity — A big relief for advanced stage patients |url=http://www.khaleejtimes.com/mobile/inside.asp?xfile=/data/international/2014/November/international_November202.xml&section=international |accessdate=4 July 2015 |publisher=Khaleej Times}}</ref>
* '''Aster Pharmacy''': Established in 1989, it operates a network of pharmacies across India.<ref>{{Cite web |last= |first= |title=Aster Pharmacy bags the SKEA Awards for the second time |url=https://www.khaleejtimes.com/business/aster-pharmacy-bags-the-skea-awards-for-the-second-time |access-date=2022-09-22 |website=Khaleej Times |language=en}}</ref>
* '''Aster Labs:''' Formerly known as Aster Diagnostic Centre, this division provides diagnostic services and operates a laboratory in Bengaluru, along with 20 satellite laboratories and over 190 patient service centres across several Indian states. It offers a range of medical tests.<ref>{{Cite web |title=Outlook India Magazine Online- Read News India, Latest News Analysis, World, Sports, Entertainment {{!}} Best Online Magazine India |url=https://www.outlookindia.com/ |access-date=2022-09-22 |website=Outlook India |language=en}}</ref>
* '''Dr. Moopen’s Medical College, Wayanad, Kerala:''' A medical college in Wayanad offering undergraduate and postgraduate programs in medicine, nursing, and pharmacy.<ref>{{Cite news |last= |first= |last2= |last3= |first3= |date=3 April 2022 |title=Dr Moopen's College On Revamp Mode |url=https://timesofindia.indiatimes.com/city/kochi/dr-moopens-college-on-revamp-mode/articleshow/90617206.cms |access-date=2022-09-22 |website=The Times of India |language=en}}</ref><ref>{{Cite news |last= |first= |last2= |last3= |first3= |date=8 April 2012 |title=Medical college in Wayanad soon |url=https://timesofindia.indiatimes.com/education/news/medical-college-in-wayanad-soon/articleshow/12576098.cms |access-date=2022-09-22 |website=The Times of India |language=en}}</ref>
* '''Aster Health Academy''': An initiative for healthcare education and professional training.<ref>{{Cite web |title=Aster Health Academy partners with national institutions, universities to offer advanced medical courses |url=https://health.economictimes.indiatimes.com/news/education/aster-health-academy-partners-with-national-institutions-universities-to-offer-advanced-medical-courses/113135594 |access-date=2025-11-15 |website=ETHealthworld.com |language=en}}</ref>


==Acquisitions==
== Community initiatives ==
In 2012, Olympus Capital Holdings Asia bought a minority stake in Aster DM Healthcare for about $100&nbsp;million. The company did not reveal the size of the acquired stake. However, they announced that Olympus Capital Holdings is now Aster DM Healthcare's largest external investor and that its nominees will join the company's board.<ref>{{cite web | url=https://blogs.wsj.com/dealjournalindia/2012/01/18/olympus-capital-buys-dm-healthcare-stake-for-100-million/ | title=Olympus Capital Buys DM Healthcare Stake for $100 Million | newspaper=[[The Wall Street Journal]] | date=18 January 2012 | accessdate=19 June 2014| author=Joshi, Ashutosh}}</ref> In May 2014, Olympus Capital Holdings Asia invested another $60&nbsp;million into the company.<ref>{{cite web | url=https://blogs.wsj.com/privateequity/2014/05/14/asian-private-equity-fund-face-pressure-to-invest-capital-hoard/ | title=Asian Private Equity Fund Face Pressure to Invest Capital Hoard | newspaper=The Wall Street Journal | date=14 May 2014 | accessdate=19 June 2014| author=Cheung, Sonja}}</ref>


==IPO Listing==
=== Aster Guardians Global Nursing Award ===
In Feb, 2018, Aster DM to launched IPO and set price band at Rs180-190 per share<ref>{{cite web | url=https://www.livemint.com/Companies/tbg6mguF2tR9DrhWFsvbEM/Aster-DM-to-launch-IPO-on-12-February-sets-price-band-at-Rs.html | title=Aster DM to launch IPO on 12 February, sets price band at Rs180-190 per share | newspaper=[[Live Mint]] | date=6 February 2018| accessdate=6 February 2018| author=Sneh Susmit}}</ref>
The Aster Guardians Global Nursing Award (AGGNA) was established in 2022 to recognize nurses in areas such as patient care, leadership, education, community service, and healthcare innovation.<ref>{{Cite web |date=2022-11-04 |title=Now, Aster Guardians Global Nursing Award ’23 in London - Healthcare Radius |url=https://www.healthcareradius.in/events/now-aster-guardians-global-nursing-award-23-in-london |access-date=2025-11-15 |language=en-US}}</ref> The first award was presented in Dubai in May 2022 to [[Anna Qabale Duba]] of [[Jomo Kenyatta|Kenya]].<ref>{{Cite news |date=2022-05-13 |title=Kenyan fighting FGM crowned world's best nurse |url=https://www.bbc.com/news/world-africa-61435153 |access-date=2025-11-15 |language=en-GB}}</ref> The second edition took place in London in May 2023, with Margaret Helen Shepherd from the United Kingdom receiving the award.<ref>{{Cite web |title=Margaret Helen Shepherd from the UK bags Aster Guardians Global Nursing Award 2023 |url=https://health.economictimes.indiatimes.com/news/industry/margaret-helen-shepherd-from-the-uk-bags-aster-guardians-global-nursing-award-2023/100249840 |access-date=2025-11-15 |website=ETHealthworld.com |language=en}}</ref> The third edition was held in Bengaluru in November 2024, with over 78,000 applicants from more than 200 countries. Winners are selected by an independent jury, with [[Ernst & Young|Ernst & Young LLP]] serving as the external evaluation partner.<ref>{{Cite news |date=2023-10-01 |title=Aster DM Healthcare invites nominations for Aster Guardians Global Nursing Award-2024 |url=https://www.thehindu.com/news/national/andhra-pradesh/aster-dm-healthcare-invites-nominations-for-aster-guardians-global-nursing-award-2024/article67369838.ece |access-date=2025-11-15 |work=The Hindu |language=en-IN |issn=0971-751X}}</ref>


==Aster Volunteers==
== See also ==
Aster DM Healthcare announced the launch of the 'Aster Volunteers' programme as part of the milestone 'Aster @30' campaign marking their 30th anniversary<ref>{{cite web | url=https://www.outlookindia.com/newsscroll/aster-dm-healthcare-unveils-global-volunteers-programme-to-mark-30-years/1079627 | title=Aster DM Healthcare unveils global volunteers programme to mark 30 years | newspaper=[[Outlook India]] | date=17 June 2017 }}</ref> Aster DM Healthcare Founder Chairman & Managing Director Dr Azad Moopen briefed President Pranab Mukherjee about ‘Aster Emergency App’ in presence of Rajya Sabha Deputy during the launch of Aster Volunteers - Aster Emergency App to provide medical during the 'Golden Hour'<ref>{{cite web | url=http://www.ictflash.com/2017/05/27/aster-emergency-app-provide-emergency-medical-aid-golden-hour/ | title=Aster Emergency App to provide medical during the 'Golden Hour' | newspaper=ICT Flash}}</ref>


==See also==
* [[Health care provider]]
* [[Health care provider]]


==References==
== References ==
{{reflist|2}}
{{Reflist}}


==External links==
== External links ==
* {{Official website|http://asterdmhealthcare.com}}
 
* {{Official website|https://www.asterdmhealthcare.in}}


[[Category:Companies established in 1987]]
[[Category:Companies established in 1987]]
[[Category:Health care companies of India]]
[[Category:Health care companies of India]]
[[Category:Health care companies of the United Arab Emirates]]
[[Category:Emirati companies established in 1987]]
[[Category:Health care companies established in 1987]]
[[Category:Health care companies established in 1987]]
[[Category:Hospital networks in India]]
[[Category:Companies listed on the National Stock Exchange of India]]
[[Category:Companies listed on the National Stock Exchange of India]]
[[Category:Companies listed on the Bombay Stock Exchange]]
[[Category:Companies listed on the Bombay Stock Exchange]]

Latest revision as of 08:52, 5 February 2026


Aster DM Healthcare Limited
Formerly
Dr. Moopen's Clinic
Traded asBSE: 540975
NSE: ASTERDM
ISININE914M01019
IndustryHealthcare
Founder(s)Azad Moopen
Headquarters
Bengaluru, India[1]
Area served
Worldwide
ProductsHospitals, Pharmacy, Diagnostic centres
RevenueIncrease ₹4,138 crore (US$580 million) (FY25)[2]
Increase ₹1,565 crore (US$220 million) (FY23)[3]
Increase ₹5,407 crore (US$760 million) (FY25)[2]
Total assetsUS$3.81 billion (2023)[4]
OwnerMoopen family (41.88%)[5]
Number of employees
32,400 (2022)[6]
Subsidiaries
  • Aster Medcity
  • Aster Pharmacy
  • Aster Labs
  • Dr. Moopen's Medical College
Websiteasterdmhealthcare.in

Aster DM Healthcare Limited is an Indian healthcare company founded by Azad Moopen in 1987. The company is registered in Bengaluru, which became the headquarters for its India operations following the separation of its Gulf Cooperation Council (GCC) business in 2024. Aster operates a network of hospitals, clinics, pharmacies, and diagnostic centres across several Indian states.[7]

History[edit | edit source]

Aster DM Healthcare was established by Azad Moopen in 1987 as a single-doctor clinic.[8] The organisation gradually expanded through hospitals, clinics, pharmacies, diagnostics, and training institutions.[9] Its formal presence in India began in 2001 with the Malabar Institute of Medical Sciences (MIMS) in Kozhikode, Kerala, which was later integrated into the Aster network.[10][11][12]

In 2014, the company opened Aster Medcity in Kochi.[13] In 2016, it acquired Kavery Medical Institute in Bengaluru, redeveloping it as Aster CMI Hospital.[14] The same year, it took over the DM Wayanad Institute of Medical Sciences[15] and acquired a majority stake in Dr. Ramesh Hospitals in Andhra Pradesh.[16] In 2018, Aster added Sangamitra Hospitals to its network[17] and launched an initial public offering, with shares subsequently listed on Indian stock exchanges.[11]

New facilities established in the following years included Aster MIMS Kannur and Aster RV Hospital in Bengaluru in 2019.[18] In 2021, the company opened a hospital in Kottakkal focused on women and children, followed by Aster Whitefield in Bengaluru in 2023.[11][19]

In November 2023, Aster DM Healthcare announced a plan to separate its GCC and India businesses.[20] The demerger was approved in January 2024. In April 2024, a consortium led by Fajr Capital acquired a 65% stake in Aster GCC, while the Moopen family retained 35% and operational control. Within India, the Moopen family continued to hold a 41.88% stake in Aster DM Healthcare.[21] The company's subsidiary, Affinity Holdings, received US$907.6 million from the transaction.[22][23][24]

In November 2024, Aster announced a merger with Quality Care India Ltd. (QCIL),[25][26] to form Aster DM Quality Care Ltd.[27][28]

In 2025, the company opened a 100-bed hospital in Sharjah[29] and a 264-bed Aster MIMS hospital in Kasaragod, Kerala.[30] It increased its stake in Dr. Ramesh Cardiac and Multispecialty Hospital Private Limited to 70.49%.[31]

Investors[edit | edit source]

In 2012, Olympus Capital Holdings Asia acquired a minority stake in Aster DM Healthcare for about US$100 million, becoming the company’s largest external investor.[32] In May 2014, Olympus invested an additional US$60 million.[33] Olympus exited its investment in June 2024. Following the GCC–India separation, the Moopen family continues to hold 41.88% of the Indian business.[34][35]

Subsidiaries[edit | edit source]

Aster MIMS in Kannur
Aster Medcity in Kochi

Aster DM Healthcare operates through multiple subsidiaries and affiliates, including 9 subsidiaries, 67 step-down subsidiaries, and 4 associate companies. Notable operations include:

  • Aster Medcity, Kochi, Kerala: Opened in 2015, this hospital is located on a 40-acre campus in Kochi, Kerala. At present, it is a 1745 bed quaternary care healthcare centre in a 40-acre campus.[36]
  • Aster Pharmacy: Established in 1989, it operates a network of pharmacies across India.[37]
  • Aster Labs: Formerly known as Aster Diagnostic Centre, this division provides diagnostic services and operates a laboratory in Bengaluru, along with 20 satellite laboratories and over 190 patient service centres across several Indian states. It offers a range of medical tests.[38]
  • Dr. Moopen’s Medical College, Wayanad, Kerala: A medical college in Wayanad offering undergraduate and postgraduate programs in medicine, nursing, and pharmacy.[39][40]
  • Aster Health Academy: An initiative for healthcare education and professional training.[41]

Community initiatives[edit | edit source]

Aster Guardians Global Nursing Award[edit | edit source]

The Aster Guardians Global Nursing Award (AGGNA) was established in 2022 to recognize nurses in areas such as patient care, leadership, education, community service, and healthcare innovation.[42] The first award was presented in Dubai in May 2022 to Anna Qabale Duba of Kenya.[43] The second edition took place in London in May 2023, with Margaret Helen Shepherd from the United Kingdom receiving the award.[44] The third edition was held in Bengaluru in November 2024, with over 78,000 applicants from more than 200 countries. Winners are selected by an independent jury, with Ernst & Young LLP serving as the external evaluation partner.[45]

See also[edit | edit source]

References[edit | edit source]

  1. ↑ "Aster DM shifts registered office from Kerala to Karnataka". Pharmabiz. Retrieved 14 July 2023.
  2. ↑ 2.0 2.1 "Aster DM Healthcare records PAT of ₹106 crore in Q4FY25". The Hindu Businessline.
  3. ↑ "Aster DM Healthcare's Q4 PAT drops 24% to ₹171 crore". The Hindu Businessline. 26 May 2023. Retrieved 14 July 2023.
  4. ↑ "Financials".
  5. ↑ "Dr Azad Moopen's family picks up 4% more stake in Aster DM Healthcare". Moneycontrol. 28 March 2023. Retrieved 16 July 2023.
  6. ↑ "Aster Labs Expanding Its Stronghold in India". www.businesswireindia.com. Retrieved 22 September 2022.
  7. ↑ "India's Strategic Expansion and Merge Fuels Growth" (PDF). HDFC Sec.
  8. ↑ Mishra, Lalatendu (21 December 2019). "'We're adding one hospital in India every year'". The Hindu. ISSN 0971-751X. Retrieved 15 November 2025.
  9. ↑ "Aster Launches Access Clinic in Jafza". Khaleej Times. 12 December 2013. Archived from the original on 15 November 2018. Retrieved 19 June 2014.
  10. ↑ "Dr Azad Moopen to be presented Padma Shri". The Indian Express. 24 March 2011. Retrieved 15 November 2025.
  11. ↑ 11.0 11.1 11.2 "Aster DM Healthcare Ltd" (PDF). HDFC Securities (research report).
  12. ↑ "Aster DM Healthcare to Start Helpdesks in Oman". The Week. 24 April 2014. Archived from the original on 24 September 2015. Retrieved 19 June 2014.
  13. ↑ "Aster DM sells stake in its Gulf business for $1.01 billion". The Economic Times. 28 November 2023. ISSN 0013-0389. Retrieved 15 November 2025.
  14. ↑ "IPO-bound Aster strikes deals for B'lore, Hyderabad foray". The Times of India. 12 September 2014. ISSN 0971-8257. Retrieved 15 November 2025.
  15. ↑ "First batch of doctors graduates from Wayanad Medical College". The New Indian Express. 6 April 2019. Retrieved 15 November 2025.
  16. ↑ "Aster DM Healthcare picking majority stake in PE-backed Ramesh Hospitals". VCCircle. Retrieved 15 November 2025.
  17. ↑ "Ramesh Hospitals acquires Ongole's Sanghamitra Hospital". The New Indian Express. 1 April 2018. Retrieved 15 November 2025.
  18. ↑ Varghese, Joseph (25 December 2019). "Aster India offers quality medical tourism for Qataris, residents". Gulf Times. Retrieved 15 November 2025.
  19. ↑ Sharma, Neetu Chandra (25 November 2021). "'Our India strategy involves focused clusters and new revenue streams' | Today News". mint. Retrieved 15 November 2025.
  20. ↑ "Aster DM Healthcare concludes separation of GCC & India businesses". MedEdge. 4 April 2024. Retrieved 27 December 2024.
  21. ↑ Kumar, Chitranjan (27 March 2024). "Aster DM Healthcare shares fall 7% amid block deal". Fortune India. Retrieved 15 November 2025.
  22. ↑ "Fajr Capital-led consortium completes investment in Aster GCC - Fajr Capital". Retrieved 15 November 2025.
  23. ↑ "Aster DM's deal to separate India and GCC businesses nears completion". Business Standard.
  24. ↑ "Aster DM healthcare separates its GCC and India operations". The Times of India. 4 April 2024. ISSN 0971-8257. Retrieved 15 November 2025.
  25. ↑ "Aster DM Healthcare, Quality Care India ink merger deal". The Times of India. 30 November 2024. ISSN 0971-8257. Retrieved 15 November 2025.
  26. ↑ "With 14,000 beds, we will become one of the largest healthcare providers in India, says Alish Moopen - BusinessToday". Business Today. 30 November 2024. Retrieved 15 November 2025.
  27. ↑ "Aster and quality care merge to create one of the top 3 hospital chains in India". The Times of India. 29 November 2024. ISSN 0971-8257. Retrieved 15 November 2025.
  28. ↑ Mishra, Lalatendu (30 November 2024). "'Our goal is to become the finest healthcare institution in India'". The Hindu. ISSN 0971-751X. Retrieved 15 November 2025.
  29. ↑ "Sultan bin Ahmed Al Qasimi inaugurates Aster Hospital Sharjah". Emirates News Agency.
  30. ↑ "Aster DM Healthcare launches ₹190-crore multispecialty hospital in Kasaragod". The Hindu. 2 October 2025. ISSN 0971-751X. Retrieved 15 November 2025.
  31. ↑ "Aster DM Healthcare acquires additional 13% stake in Aster Ramesh Hospitals". Express Healthcare. 3 September 2025. Retrieved 22 November 2025.
  32. ↑ Joshi, Ashutosh (18 January 2012). "Olympus Capital Buys DM Healthcare Stake for $100 Million". The Wall Street Journal. Retrieved 19 June 2014.
  33. ↑ Cheung, Sonja (14 May 2014). "Asian Private Equity Fund Face Pressure to Invest Capital Hoard". The Wall Street Journal. Retrieved 19 June 2014.
  34. ↑ "Aster DM Healthcare concludes separation of India and GCC businesses". Business Standard. 3 April 2024. Archived from the original on 24 May 2024. Retrieved 27 December 2024.
  35. ↑ Pilla, Viswanath (3 April 2024). "Aster DM completes separation of Gulf business, plans to add 1,700 beds in India in next 3 years". The Economic Times. ISSN 0013-0389. Retrieved 27 December 2024.
  36. ↑ "Medcity — A big relief for advanced stage patients". Khaleej Times. 10 November 2014. Retrieved 4 July 2015.
  37. ↑ "Aster Pharmacy bags the SKEA Awards for the second time". Khaleej Times. Retrieved 22 September 2022.
  38. ↑ "Outlook India Magazine Online- Read News India, Latest News Analysis, World, Sports, Entertainment | Best Online Magazine India". Outlook India. Retrieved 22 September 2022.
  39. ↑ "Dr Moopen's College On Revamp Mode". The Times of India. 3 April 2022. Retrieved 22 September 2022.
  40. ↑ "Medical college in Wayanad soon". The Times of India. 8 April 2012. Retrieved 22 September 2022.
  41. ↑ "Aster Health Academy partners with national institutions, universities to offer advanced medical courses". ETHealthworld.com. Retrieved 15 November 2025.
  42. ↑ "Now, Aster Guardians Global Nursing Award '23 in London - Healthcare Radius". 4 November 2022. Retrieved 15 November 2025.
  43. ↑ "Kenyan fighting FGM crowned world's best nurse". 13 May 2022. Retrieved 15 November 2025.
  44. ↑ "Margaret Helen Shepherd from the UK bags Aster Guardians Global Nursing Award 2023". ETHealthworld.com. Retrieved 15 November 2025.
  45. ↑ "Aster DM Healthcare invites nominations for Aster Guardians Global Nursing Award-2024". The Hindu. 1 October 2023. ISSN 0971-751X. Retrieved 15 November 2025.

External links[edit | edit source]

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