- Dubai-based Aster DM Healthcare buys 57 per cent of Sanad Hospital in Saudi Arabia for AED900m ($245m)
- It now owns 97 per cent of the 250-bed hospital
- The expansion plans include another 100 beds in two new buildings and upgrading the main building
Dubais Aster DM Healthcare has acquired a 57 per cent stake in Riyadhs Sanad Hospital, bringing its total stake to 97 per cent.
It paid AED900m ($245m) for the stake in the 250-bed hospital.
Aster DM now owns six hospitals in the Gulf. It also has five hospitals under construction, one in Qatar and three in the UAE.
|Aster DM Hospitals under construction|
|Al Estiana Real Estate||Doha||50||20|
|DM Healthcare||Al-Qusais, Dubai||116||55|
|Source: MEED Projects|
It plans to expand the Sanad Hospital.
Our financial injection will help accelerate Sanad Hospitals expansion plans while enhancing Aster DM Healthcare Groups presence in the region, said Azad Moopen, chairman of Aster DM in a press release.
Sanad Hospital continues to deliver quality healthcare and our aim is to upgrade the hospital facilities to ensure more accessibility, added Alisha Moopen, director of strategy at Aster DM. In response to the increasing number of patients, we are adding an additional 100 inpatient beds, adding two new buildings and we are upgrading the main building to accommodate more emergency rooms and outpatient clinics.
Aster DM is also considering an initial public offering in India.