8 new hospitals to be completed in GCC and India
KOCHI: Aster DM Healthcare, one of the fastest growing healthcare groups in India, has chalked out plans to add more than 1450 beds in the coming two years thus taking the group’s bed capacity up by about 30 per cent to more than 6540 beds.
The group with ten hospitals in the GCC and 11 hospitals in India currently, is planning to construct four new hospitals each in GCC and India within the next two years.
While the hospital group’s ambitious plan will see GCC adding 335 beds, whereas India creating additional 1083 bed facilities through the new four hospitals that are in various stages of execution.
Additionally, the group is in the process of acquiring a 25-bed hospital in Ibri in Oman and a 10-bed hospital in Dubai, which is likely to be concluded during the fourth quarter of the current year itself.
Aster, one of the largest private healthcare service providers in multiple GCC states, and an emerging healthcare player in India has reported 42 per cent growth in its profit after tax (PAT) adjusted for the exceptional income in previous year from Rs 71 crore in Q3FY18 to Rs 100 crore in the quarter ending December 31, 2018.
While the EBITDA for the quarter under review rose 54 per cent to Rs263 crore, the revenue during the period was up 19 per cent to Rs2,150 crore.
The company statement noted that its strong growth is a reflection of its focus on quality healthcare, the strength of its diversified healthcare offerings and a strong thrust on enhancing efficiencies.
Dr Azad Moopen (seen in the picture), chairman, Aster DM Healthcare, expressed satisfaction that the group has done well both sequentially and on a corresponding quarter basis.
“Our business in India is growing well and we are making progress here. Our expansion in our brand across geographies will definitely help our global foot print. Our strategy here is to work on setting up two hospitals every year and gradually increase the capacity utilization. Over a period of time, we strongly believe, the Ayushman Bharat scheme will give opportunities for some of our businesses in the tier 2 cities,” Dr Moopen exuded confidence.
He said the GCC businesses also hold well especially with majority of the geographies moving towards mandatory insurance. “With major part of the financial year gone by and our performance having positively reflected in our results, we are confident on ending the current financial year on a strong note with a strong focus on clinical excellence and expansion,” he added.
Aster DM Healthcare is a 31-year-old integrated and comprehensive healthcare service organization. The company is one of the few entities across the globe providing the complete circle of care from primary, secondary, tertiary to quaternary medical care.