Aster DM Healthcare has entered into a substantial deal with Fajr Capital, valuing its GCC business at $1.7 billion, anticipating the creation of over 2,000 jobs in the coming years, according to Alisha Moopen, the managing director and group CEO of Aster GCC business. The agreement is expected to take the GCC business private, allowing focused expansion into Saudi Arabia, featuring plans for approximately 250 pharmacies and the preparation of the Medcare Royal Hospital in Al Qusais. A significant portion of the upcoming recruitment efforts will be concentrated in these areas, as highlighted by Alisha Moopen.
Dr. Azad Moopen, the founder and chairman of Aster, emphasized that the deal with Fajr Capital will enable a distinct focus on the two geographies, unlocking value for shareholders. While the Indian arm remains listed, the move aims to enhance operational efficiency. Aster’s current portfolio serves around 20 million customers annually through pharmacies, clinics, and hospitals. Alisha Moopen expressed the company’s intention to expand both its digital and physical presence, citing plans for the growth of the Aster app, which already boasts over 1 million downloads.
Dr. Azad Moopen expects the deal to positively impact Aster’s offerings, particularly in tertiary and quaternary fields. The expansion is foreseen to strengthen oncology services. Dubai, already a hub for medical tourism, is set to benefit from enhanced facilities beyond cosmetic procedures, including advanced services in women’s health, orthopedics, and robotic surgery, contributing to the region’s leading position in medical tourism.
