DM Healthcare, a leading healthcare group in the UAE, is all set to expand its healthcare business by diversifying into pharmaceutical and medical equipment manufacturing apart from opening two more mutli-specialty hospitals in the next two years..
Speaking to 'Emirates24|7' on the occasion of the silver jubilee celebrations of DM Healthcare, Dr Azad Moopen, Chairman, DM Healthcare, said, the group has charted out a road map for expansion until the year 2025. And in the next five years, the group will invest $600 million (Dh2,204m) for its expansions into new geographical areas such as Europe, America and African countries and to expand its presence in the GCC and India through mergers and acquisitions, he added.
The two Silver Jubilee Aster Hospitals will be located at Mankhool Bur Dubai, in Dubai, and King Faisal Street in Sharjah. They will offer state-of-the-art facilities.
The hospitals will also provide super-specialty clinics. The hospitals are scheduled to begin operations in the last quarter of 2014.
The group has also launched a network of budget-model clinics called Access Clinics in the UAE, which caters to the low-income residents.
A multibillion dollar group which started with just one clinic in the UAE 25 years ago is also contemplating more diversification into vertical areas of producing lifesaving medicines, especially off patent generic medicines and medical equipment, in view of the anticipated demand from the UAE, Gulf, India and other international markets.
This is the first time that the healthcare service company is foraying into manufacturing. “It is a logical conclusion that we enter into new vertical areas of healthcare business like manufacturing of drugs and pharmaceuticals and medical equipment. We have started business from the UAE and our intention is to become a truly global healthcare company,” he said, adding that the location of the proposed pharmaceutical manufacturing unit is yet to be considered. The GCC, India and the African countries are being considered, he added.
Announcing the launch of 'Care Beyond Boundaries' initiative, Dr Moopen said: “We aim to extend quality healthcare facilities to people across boundaries. There is a lot of opportunities for healthcare ventures in the African continent.”
DM Healthcare has started MIMS, a 600-bed tertiary care hospital in Calicut and a 150-bed hospital at Kottakkal, Kerala. In addition, Aster Medcity, a green field venture involving $300 million investment in two phases is coming up in Kochi, Kerala.
The group has also expanded to other parts of India through acquisitions.
DM Healthcare is currently present in the UAE, Saudi Arabia, Oman and Qatar and in India and operates about 40 medical centres, 7 hospitals, 79 pharmacies and nearly 3,000 medical professionals.
The UAE-based Julphar Pharmaceuticals, Neo Paharma, Elis Pharmaceuticals etc are some of the successful pharmaceutical manufacturers in the UAE.
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