Aster DM Healthcare buys majority stake in Saudi hospital for Dh900m

Aster DM Healthcare has acquired an additional 57 per cent stake in Sanad Hospital in Riyadh, Saudi Arabia, raising its total ownership stake to 97 per cent.

The Dh900 million ($245 million) investment in the Kingdom brings the total number of Aster DM Healthcare hospitals to six in the Gulf.

Sanad Hospital has seen steady growth over the last eight years, with 250 patient beds, over 100 physicians and surgeons as well as 800 employees of which 30% are Saudi nationals.

“The Ministry of Health’s commitment to ensure access to quality healthcare for all Saudi Arabian nationals and residents presents a wonderful opportunity for us to add the Aster touch to improve patient outcomes, while helping transform the local healthcare infrastructure. Our financial injection will help accelerate Sanad Hospital’s expansion plans while enhancing Aster DM Healthcare Group’s presence in the region,” said Dr. Azad Moopen, Chairman of Aster DM Healthcare.

Alisha Moopen, Director of Strategy at Aster DM Healthcare, said: “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 Healthcare also has five greenfield projects underway in the Gulf including a new hospital in Qatar and three in the UAE.

The group is also planning to go public and plans to list on Bombay Stock Exchange, its chairman told this website earlier this year.