Aster DM Healthcare has entered into a share subscription agreement to invest in 15.98% of equity share capital of Alfaone Medicals for a cash consideration of Rs 22.85 lakh.
Aster DM Healthcare plans to engage in consumer healthcare and wellness business in India. The deal is expected to be completed by 31 January 2021. Alfaone Medicals was incorporated on 3 December 2020. The announcement was made after market hours on Friday, 22 January 2021.
Aster DM Healthcare's consolidated net profit surged to Rs 42.25 crore in Q2 FY21 as against Rs 6.87 crore in Q2 FY20. Net sales during the quarter grew by 8.7% year-on-year (Y-o-Y) to Rs 2,267.71 crore.
Shares of Aster DM Healthcare fell 0.72% to Rs 159. Aster DM Healthcare operates in various segments of the healthcare industry, which include hospitals, clinics and retail pharmacies, and provides healthcare services to patients across economic segments in various gulf corporation council (GCC) states through its various brands, such as Aster, Medcare and Access.
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