## Aster DM Healthcare Plans Major Expansion in India
Aster DM Healthcare, a leading healthcare provider, is planning a significant expansion in India following the sale of its GCC business for USD 907 million. The company intends to invest around Rs 1,000 crore to increase its bed capacity to over 6,600 in the next three years.
This expansion will involve adding 1,700 beds through both organic and inorganic growth strategies. The company plans to build new hospitals (greenfield projects) and acquire existing ones (brownfield projects). This includes projects like Aster Capital in Trivandrum and Aster MIMS Kasaragod, as well as expanding capacity in existing hospitals. Aster DM Healthcare is also considering potential markets like Maharashtra and Uttar Pradesh for further expansion.
To support this growth, the company has declared a special dividend of Rs 118 per share to its shareholders. The record date for determining eligibility for this dividend is April 23, 2024. Despite this payout, Aster DM Healthcare will still retain Rs 1,500 crore from the GCC business sale for future investments.
"The current Indian healthcare market looks promising and post segregation now, our efforts will be to dynamically increase our footprint in India," said Aster DM Healthcare Founder Chairman Azad Moopen. "The company is making the right investments in people, innovation and infrastructure to differentiate it and create long-term value for all stakeholders."
This expansion plan positions Aster DM Healthcare to become one of the top three integrated healthcare providers in India. The company's focus on both organic and inorganic growth, coupled with strategic investments, demonstrates its commitment to strengthening its presence in the Indian healthcare market.