Aster DM Healthcare has announced the separation of its India and GCC businesses into two distinct and standalone entities. The separation plan will “unlock value for the shareholders by allowing both the India and GCC businesses to adopt a market-focused strategy and create sustained long-term growth,” the largest healthcare provider said in a statement.
Under the separation plan, a consortium led by Fajr Capital has entered into a definitive agreement to acquire a 65% stake in the ownership of the GCC business, Aster DM Healthcare FZC. The Moopen family will continue to manage and operate the GCC business retaining a 35% stake, on and from closing.
The current market cap of the combined India and GCC business stands at USD $ 2.0 billion. Dr. Azad Moopen will continue in his role as the Founder & Chairman and will oversee both India and GCC businesses, while Ms. Alisha Moopen will be promoted to the position of Managing Director and Group CEO of the GCC business. Dr. Nitish Shetty will continue as the CEO of the Aster business in India.
Dr. Azad Moopen, Founder and Chairman of Aster DM Healthcare said: “The strategic decision to segregate the India and GCC operations was based on the rationale to establish fair value for both entities, creating two pure-play geographically focused entities that are able to leverage the growth opportunities in their respective markets.
