Aster DM Healthcare, a prominent integrated healthcare provider, has announced a groundbreaking decision to separate its India and GCC businesses into two independent entities. This bold move, approved by the boards of its subsidiary Affinity Holdings Private Limited and the company itself, aims to enhance focus and growth in these distinct markets.

Definitive Agreement with Fajr Capital-led Consortium

Affinity has entered into a definitive agreement with a consortium led by Fajr Capital, a UAE-based private equity firm, to invest in Aster’s GCC business. This consortium, which includes key players like Emirates Investment Authority and Al Dhow Holding Company, will drive Aster’s growth in the Gulf region.

Reshaping Healthcare with Dedicated Regional Focus

The separation plan is set to establish two regional healthcare powerhouses, with each entity focusing on market-specific growth and patient needs. The distinct management teams and dedicated investor bases for the India and GCC entities will bolster their respective market strategies and expansion plans.

Aster’s Foundational Growth and Future Plans

Founded by Dr. Azad Moopen in 1987, Aster DM Healthcare has grown into a leading healthcare provider. Post-separation, the company plans significant bed capacity expansion in India and strategic growth in the GCC, particularly in the UAE and Saudi Arabia.

Leadership and Vision for Post-Separation Entities

Post-completion, Dr. Azad Moopen will oversee both entities, with Ms. Alisha Moopen taking the helm as Managing Director and Group CEO of the GCC business, and Dr. Nitish Shetty leading the Indian entity.

Advisors and Approval Process for the Transaction

The transaction, set to close by March 2024, is subject to shareholder approval and regulatory compliances. It has garnered the support of various advisors, including EY, PwC, ICICI Securities, and legal firms like Baker & McKenzie LLP.

Dr. Azad Moopen and Alisha Moopen on the Separation

Dr. Azad Moopen expressed his vision for leveraging growth opportunities in both markets, while Alisha Moopen highlighted the potential for the GCC business to expand into new healthcare segments and digital health.

  Affinity Holdings Private Limited, Alisha Moopen, Aster DM Healthcare, Dr. Azad Moopen, Dr. Nitish Shetty, Fajr Capital, India