Aster DM Healthcare

Aster DM Healthcare Limited

Aster DM Healthcare
Formerly	Dr. Moopen's Clinic
Company type	Public
Traded as	BSE:  540975 NSE:  ASTERDM
ISIN	INE914M01019
Industry	Healthcare
Founder	Azad Moopen
Headquarters	Bengaluru, India [1]
Area served	Worldwide
Products	Hospitals, Pharmacy, Diagnostic centres
Revenue	₹4,138 crore (US$490 million) (FY25) [2]
Operating income	₹1,565 crore (US$190 million) (FY23) [3]
Net income	₹5,407 crore (US$640 million) (FY25) [2]
Total assets	US$3.81 billion (2023) [4]
Owner	Moopen family (41.88%) [5]
Number of employees	32,400 (2022) [6]
Subsidiaries	Aster Medcity Aster Pharmacy Aster Labs Dr. Moopen's Medical College
Website	asterdmhealthcare.in

Aster DM Healthcare Limited is an Indian healthcare company founded by Azad Moopen in 1987. The company is registered in Bengaluru, which became the headquarters for its India operations following the separation of its Gulf Cooperation Council (GCC) business in 2024. Aster operates a network of hospitals, clinics, pharmacies, and diagnostic centres across several Indian states. ^[7]

History

Aster DM Healthcare was established by Azad Moopen in 1987 as a single-doctor clinic. ^[8] The organisation gradually expanded through hospitals, clinics, pharmacies, diagnostics, and training institutions. ^[9] Its formal presence in India began in 2001 with the Malabar Institute of Medical Sciences (MIMS) in Kozhikode, Kerala, which was later integrated into the Aster network. ^{[10] [11] [12]}

In 2014, the company opened Aster Medcity in Kochi. ^[13] In 2016, it acquired Kavery Medical Institute in Bengaluru, redeveloping it as Aster CMI Hospital. ^[14] The same year, it took over the DM Wayanad Institute of Medical Sciences ^[15] and acquired a majority stake in Dr. Ramesh Hospitals in Andhra Pradesh. ^[16] In 2018, Aster added Sangamitra Hospitals to its network ^[17] and launched an initial public offering, with shares subsequently listed on Indian stock exchanges. ^[11]

New facilities established in the following years included Aster MIMS Kannur and Aster RV Hospital in Bengaluru in 2019. ^[18] In 2021, the company opened a hospital in Kottakkal focused on women and children, followed by Aster Whitefield in Bengaluru in 2023. ^{[11] [19]}

In November 2023, Aster DM Healthcare announced a plan to separate its GCC and India businesses. ^[20] The demerger was approved in January 2024. In April 2024, a consortium led by Fajr Capital acquired a 65% stake in Aster GCC, while the Moopen family retained 35% and operational control. Within India, the Moopen family continued to hold a 41.88% stake in Aster DM Healthcare. ^[21] The company's subsidiary, Affinity Holdings, received US$907.6 million from the transaction. ^{[22] [23] [24]}

In November 2024, Aster announced a merger with Quality Care India Ltd. (QCIL), ^{[25] [26]} to form Aster DM Quality Care Ltd. ^{[27] [28]}

In 2025, the company opened a 100-bed hospital in Sharjah ^[29] and a 264-bed Aster MIMS hospital in Kasaragod, Kerala. ^[30] It increased its stake in Dr. Ramesh Cardiac and Multispecialty Hospital Private Limited to 70.49%. ^[31]

Investors

In 2012, Olympus Capital Holdings Asia acquired a minority stake in Aster DM Healthcare for about US$100 million, becoming the company’s largest external investor. ^[32] In May 2014, Olympus invested an additional US$60 million. ^[33] Olympus exited its investment in June 2024. Following the GCC–India separation, the Moopen family continues to hold 41.88% of the Indian business. ^{[34] [35]}

Subsidiaries

Aster MIMS in Kannur

Aster Medcity in Kochi

Aster DM Healthcare operates through multiple subsidiaries and affiliates, including 9 subsidiaries, 67 step-down subsidiaries, and 4 associate companies. Notable operations include:

• Aster Medcity, Kochi, Kerala: Opened in 2015, this hospital is located on a 40-acre campus in Kochi, Kerala. At present, it is a 1745 bed quaternary care healthcare centre in a 40-acre campus. ^[36]
• Aster Pharmacy: Established in 1989, it operates a network of pharmacies across India. ^[37]
• Aster Labs: Formerly known as Aster Diagnostic Centre, this division provides diagnostic services and operates a laboratory in Bengaluru, along with 20 satellite laboratories and over 190 patient service centres across several Indian states. It offers a range of medical tests. ^[38]
• Dr. Moopen’s Medical College, Wayanad, Kerala: A medical college in Wayanad offering undergraduate and postgraduate programs in medicine, nursing, and pharmacy. ^{[39] [40]}
• Aster Health Academy: An initiative for healthcare education and professional training. ^[41]

Community initiatives

Aster Guardians Global Nursing Award

The Aster Guardians Global Nursing Award (AGGNA) was established in 2022 to recognize nurses in areas such as patient care, leadership, education, community service, and healthcare innovation. ^[42] The first award was presented in Dubai in May 2022 to Anna Qabale Duba of Kenya. ^[43] The second edition took place in London in May 2023, with Margaret Helen Shepherd from the United Kingdom receiving the award. ^[44] The third edition was held in Bengaluru in November 2024, with over 78,000 applicants from more than 200 countries. Winners are selected by an independent jury, with Ernst & Young LLP serving as the external evaluation partner. ^[45]

See also

• Health care provider

References

1. "Aster DM shifts registered office from Kerala to Karnataka". Pharmabiz. Retrieved 14 July 2023.
2. "Aster DM Healthcare records PAT of ₹106 crore in Q4FY25". The Hindu Businessline.
3. "Aster DM Healthcare's Q4 PAT drops 24% to ₹171 crore". The Hindu Businessline. 26 May 2023. Retrieved 14 July 2023.
4. "Financials".
5. "Dr Azad Moopen's family picks up 4% more stake in Aster DM Healthcare". Moneycontrol. 28 March 2023. Retrieved 16 July 2023.
6. "Aster Labs Expanding Its Stronghold in India". www.businesswireindia.com. Retrieved 22 September 2022.
7. "India's Strategic Expansion and Merge Fuels Growth" (PDF). HDFC Sec.
8. Mishra, Lalatendu (21 December 2019). "'We're adding one hospital in India every year'". The Hindu. ISSN   0971-751X . Retrieved 15 November 2025.
9. "Aster Launches Access Clinic in Jafza". Khaleej Times . 12 December 2013. Archived from the original on 15 November 2018. Retrieved 19 June 2014.
10. "Dr Azad Moopen to be presented Padma Shri". The Indian Express. 24 March 2011. Retrieved 15 November 2025.
11. "Aster DM Healthcare Ltd" (PDF). HDFC Securities (research report).
12. "Aster DM Healthcare to Start Helpdesks in Oman". The Week . 24 April 2014. Archived from the original on 24 September 2015. Retrieved 19 June 2014.
13. "Aster DM sells stake in its Gulf business for $1.01 billion". The Economic Times. 28 November 2023. ISSN   0013-0389 . Retrieved 15 November 2025.
14. "IPO-bound Aster strikes deals for B'lore, Hyderabad foray". The Times of India. 12 September 2014. ISSN   0971-8257 . Retrieved 15 November 2025.
15. "First batch of doctors graduates from Wayanad Medical College". The New Indian Express. 6 April 2019. Retrieved 15 November 2025.
16. "Aster DM Healthcare picking majority stake in PE-backed Ramesh Hospitals". VCCircle. Retrieved 15 November 2025.
17. "Ramesh Hospitals acquires Ongole's Sanghamitra Hospital". The New Indian Express. 1 April 2018. Retrieved 15 November 2025.
18. Varghese, Joseph (25 December 2019). "Aster India offers quality medical tourism for Qataris, residents". Gulf Times. Retrieved 15 November 2025.
19. Sharma, Neetu Chandra (25 November 2021). "'Our India strategy involves focused clusters and new revenue streams' | Today News". mint. Retrieved 15 November 2025.
20. "Aster DM Healthcare concludes separation of GCC & India businesses". MedEdge. 4 April 2024. Retrieved 27 December 2024.
21. Kumar, Chitranjan (27 March 2024). "Aster DM Healthcare shares fall 7% amid block deal". Fortune India. Retrieved 15 November 2025.
22. "Fajr Capital-led consortium completes investment in Aster GCC - Fajr Capital" . Retrieved 15 November 2025.
23. "Aster DM's deal to separate India and GCC businesses nears completion". Business Standard.
24. "Aster DM healthcare separates its GCC and India operations". The Times of India. 4 April 2024. ISSN   0971-8257 . Retrieved 15 November 2025.
25. "Aster DM Healthcare, Quality Care India ink merger deal". The Times of India. 30 November 2024. ISSN   0971-8257 . Retrieved 15 November 2025.
26. "With 14,000 beds, we will become one of the largest healthcare providers in India, says Alish Moopen - BusinessToday". Business Today. 30 November 2024. Retrieved 15 November 2025.
27. "Aster and quality care merge to create one of the top 3 hospital chains in India". The Times of India. 29 November 2024. ISSN   0971-8257 . Retrieved 15 November 2025.
28. Mishra, Lalatendu (30 November 2024). "'Our goal is to become the finest healthcare institution in India'". The Hindu. ISSN   0971-751X . Retrieved 15 November 2025.
29. "Sultan bin Ahmed Al Qasimi inaugurates Aster Hospital Sharjah". Emirates News Agency.
30. "Aster DM Healthcare launches ₹190-crore multispecialty hospital in Kasaragod". The Hindu. 2 October 2025. ISSN   0971-751X . Retrieved 15 November 2025.
31. "Aster DM Healthcare acquires additional 13% stake in Aster Ramesh Hospitals". Express Healthcare. 3 September 2025. Retrieved 22 November 2025.
32. Joshi, Ashutosh (18 January 2012). "Olympus Capital Buys DM Healthcare Stake for $100 Million". The Wall Street Journal . Retrieved 19 June 2014.
33. Cheung, Sonja (14 May 2014). "Asian Private Equity Fund Face Pressure to Invest Capital Hoard". The Wall Street Journal. Retrieved 19 June 2014.
34. "Aster DM Healthcare concludes separation of India and GCC businesses". Business Standard. 3 April 2024. Archived from the original on 24 May 2024. Retrieved 27 December 2024.
35. Pilla, Viswanath (3 April 2024). "Aster DM completes separation of Gulf business, plans to add 1,700 beds in India in next 3 years". The Economic Times. ISSN   0013-0389 . Retrieved 27 December 2024.
36. "Medcity — A big relief for advanced stage patients". Khaleej Times. 10 November 2014. Retrieved 4 July 2015.
37. "Aster Pharmacy bags the SKEA Awards for the second time". Khaleej Times. Retrieved 22 September 2022.
38. "Outlook India Magazine Online- Read News India, Latest News Analysis, World, Sports, Entertainment | Best Online Magazine India". Outlook India. Retrieved 22 September 2022.
39. "Dr Moopen's College On Revamp Mode". The Times of India. 3 April 2022. Retrieved 22 September 2022.
40. "Medical college in Wayanad soon". The Times of India. 8 April 2012. Retrieved 22 September 2022.
41. "Aster Health Academy partners with national institutions, universities to offer advanced medical courses". ETHealthworld.com. Retrieved 15 November 2025.
42. "Now, Aster Guardians Global Nursing Award '23 in London - Healthcare Radius". 4 November 2022. Retrieved 15 November 2025.
43. "Kenyan fighting FGM crowned world's best nurse". 13 May 2022. Retrieved 15 November 2025.
44. "Margaret Helen Shepherd from the UK bags Aster Guardians Global Nursing Award 2023". ETHealthworld.com. Retrieved 15 November 2025.
45. "Aster DM Healthcare invites nominations for Aster Guardians Global Nursing Award-2024". The Hindu. 1 October 2023. ISSN   0971-751X . Retrieved 15 November 2025.

External links

• Official website