Dubai, United Arab Emirates, 29 March, 2017: Aster DM Healthcare, the Dubai based healthcare conglomerate, has reported a healthy 2016-17 fiscal year led by its continued expansion and acquisition strategy. Over the past year, the group has expanded its network across GCC as well as India.

Key Milestones achieved in FY 2016 -17, as well as upcoming launches:

Aster DM Healthcare Group completes 3 decades of operations in 2017

Total 317 medical establishments, including 18 hospitals, 98 clinics and 201 pharmacies as on 30, January 2017

GCC:

3 new hospitals: Successful launch of Medcare Women & Children Hospital in Dubai and soft launch of Medcare Hospital in Sharjah. Aster Hospital in Doha is nearly completed.

8 new clinics and 25 pharmacies added in GCC under Aster, Medcare and Access Brands

2 new specialty clinics launched: IVF and Women Care, under both Aster and Medcare brands

Acquisition of 60% stake in Harley Street Medical Centre, Abu Dhabi, marking the company’s foray into niche healthcare specialty, including a day-care surgical centre

Launch of AsterOnline and Aster Chronic Care@Home services - Introduction of innovative technological solution for patient care

Started construction of upcoming Aster Hospital in Qusais, set to be a 100-bed facility

Signed the contract for a  Aster Hospital in Sharjah

India and Asia- Pacific:

Launched Aster CMI- a 509 beds quaternary care facility at Bangalore

Opening of 3 new Aster Clinics in Bangalore

Acquisition of majority stake in a chain of 3 reputed hospitals in Gundur and Vijayawada, Andhra Pradesh, with a combined strength of around 500 beds

Expansion of Aster Prime Hospital in Telengana , Hyderabad, India

Acquisition of land and project mobilization of Aster Hospital- a 500 bed facility in Thiruvananthapuram, Kerala

On-going construction of Aster MIMS- a 200 bed facility at Kannur, Kerala

Successful credit financing with Axis Bank for US $ 295 Million

Aster DM Healthcare also announced the closure of US $295 Million, comprehensive group-wide credit facility with Axis Bank. Based on the company’s performance and pipeline of projects, Axis Bank offered attractive terms and conditions that facilitated the financing process.

Commenting on the company’s performance, Dr. Azad Moopen, Founder Chairman and Managing Director of Aster DM Healthcare said, “The growth of our operation remains aligned to our vision of making quality healthcare easily accessible to the communities that we serve, across the world. We are at an exciting stage of our journey, as we continue to bridge the gap between available quality services and needs of our patients on a day-to-day basis. It opens the door to improvise and introduce innovative as well as sustainable solutions that can bring about a quantum leap in the primary healthcare delivery model that we have today. In 2016, we have been successful in expanding our horizons in both India and Middle East.”   

The company currently operates under the Aster, Medcare and Access brands across 9 markets, including UAE, KSA, Qatar, Bahrain, Oman, Kuwait, Jordan, India and Philippines.

About Aster DM Healthcare:

Aster DM Healthcare is a healthcare network with over 317 operating facilities across 9 countries, including 18 hospitals, 98 clinics & 201 retail pharmacies, as on January 30, 2017. The organization has 19,151 employees including 2,081 full-time doctors as on January 30, 2017.

For more information, please contact:
Memac Ogilvy Public Relations
Reem Abi Ali
+971 (0) 56 450 5916
reem.abiali@ogilvy.com

Aster DM Healthcare Limited is proposing, subject to receipt of requisite approvals, market conditions and other considerations, to make an initial public offer of its Equity Shares and has filed the DRHP with SEBI on June 24, 2016. The DRHP is available on the website of the SEBI at www.sebi.gov.in, BSE at www.bseindia.com, NSE at www.nseindia.com as well as on the websites of the Global Co-coordinators and Book Running Lead Managers, Kotak Mahindra Capital Company Limited, DSP Merrill Lynch Limited and Goldman Sachs (India) Securities Private Limited at www.investmentbank.kotak.com, www.dspml.com and www.goldmansachs.com and the Book Running Lead Managers at www.edelweissfin.com, www.icicisecurities.com, www.jmfl.com and www.sbicaps.com. Investors should note that investment in equity shares involves a high degree of risk and for details relating to the same, see “Risk Factors” on page 17 of DRHP. Potential investors should not rely on the DRHP filed with the SEBI for making any investment decision.

This announcement has been prepared for publication in India and may not be released in the United States. This announcement is not an offer to sell or a solicitation of any offer to buy securities of our company in the United States. The Equity Shares offered in the Offer have not been and will not be registered under the U.S. Securities Act, 1933 (“U.S. Securities Act”) or any state securities laws in the United States, and may not be offered or sold within the United States, except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the U.S. Securities Act and applicable state securities laws. The Equity Shares have not been and will not be registered, listed or otherwise qualified in any other jurisdiction outside India and may not be offered or sold, and Bids may not be made by persons in any such jurisdiction, except in compliance with the applicable laws of such jurisdiction. No public offering of securities in the United States is contemplated. The securities referred to herein will only be offered and sold (i) in the United States to “Qualified Institutional Buyers” (as defined in Rule 144A under the US Securities Act in transactions exempt from the registration requirements of the US Securities Act and (ii) outside the United States in compliance with Regulation S under the US Securities Act and the applicable laws of the jurisdiction where these offer and sales occur.

© Press Release 2017