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Aster DM Healthcare acquires 80 pc stake in UAE-based Premium Healthcare

ANI 

Aster DM Healthcare, the third largest healthcare company in India, has completed the acquisition of 80 per cent stake in UAE-based Premium Healthcare.

The company's subsidiary Aster DM Healthcare FZC completed the acquisition for Rs 16.8 crore. "The company has received confirmation from Dubai International Financial Centre Authority (DIFCA)," said Aster DM Healthcare in a statement.

"It is a bolt-on acquisition which fits with our existing medcare brand of clinics," it added.

Aster DM Healthcare is one of the largest private healthcare service providers operating in multiple Gulf Cooperation Council (GCC) states and is an emerging healthcare player in India. Its facilities are manned by 20,330 workforce including 1,230 doctors from various geographies.

In September, the company has entered into an agreement with Karnataka Lingayat Education (KLE) Society which runs over 270 institutions across Karnataka, Maharashtra and New Delhi. A 25-year lease deed agreement was signed with KLE Society.

The 600-bed Aster KLE Hospital near KLE Dental College bordering Yeshwantpur in Karnataka is Aster's 15th hospital in India and part of its global network of existing 25 hospitals, 115 clinics and 231 pharmacies. The hospital is scheduled to begin operations in April 2024.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, December 10 2019. 11:34 IST
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