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Aug, 22 2019

Hospital chain Aster DM Healthcare looks to invest Rs 1,000 crore in 5 new hospitals

The Kochi-based hospital chain will be adding one more facility each in Hyderabad, Bangalore and Chennai and two more in Andhra.

Aster DM Healthcare, one of the few publicly traded hospital chains in India, is eyeing to add more than 2,000 beds at an investment of over Rs 1,000 crore in the next two to three years in five new properties outside Kerala.

The Kochi-based hospital chain will be adding one more facility each in Hyderabad, Bangalore and Chennai and two more in Andhra.

Currently, Aster is operating six hospitals in the country with 4,500 beds, of which 3,000 beds are in Kerala and the rest in three other states. The chain further operates 1,000 beds across six hospitals in the Gulf which is its cash-cow with over 70 percent fo revenue flow, spanning all GCC countries.

Azad Moopen, Founder and Chairman, Aster DM Healthcare, said, “We are investing over Rs 1,000 crore to add over 2,000 beds to our existing 4,500 beds in the next two-three years. These hospitals will be on an asset-light model, where we will be operating and managing the facility. Chennai will have the first of these new hospitals at an investment of over Rs 550 crore.”

“The 500-beds Chennai facility will be operational over the next 30 months. The Rs 1,000-crore capex plan does not include the 500-beds upcoming facility in the Kerala capital Thiruvananthapuram,” he added.

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