{"id":90058,"date":"2024-09-30T00:00:00","date_gmt":"2024-09-30T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/2024\/09\/30\/aster-gcc-eyes-usd-250-mn-in-healthcare-assets-in-saudi-expansion\/"},"modified":"2024-09-30T00:00:00","modified_gmt":"2024-09-30T00:00:00","slug":"aster-gcc-eyes-usd-250-mn-in-healthcare-assets-in-saudi-expansion","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/ksa\/2024\/09\/30\/aster-gcc-eyes-usd-250-mn-in-healthcare-assets-in-saudi-expansion\/","title":{"rendered":"Aster GCC eyes USD 250 mn in healthcare assets in Saudi expansion"},"content":{"rendered":"

Aster GCC<\/a><\/strong> is looking at acquiring USD 250 mn (SAR 937.8 mn) worth of <\/strong>assets as it looks to expand in<\/strong> Saudi<\/strong>, Managing Director and group CEO of Aster\u2019s GCC unit Alisha Moopen tells Bloomberg<\/a>. The company \u2014 a subsidiary of Dubai-based Aster DM Healthcare \u2014 is eyeing medical centers and hospitals that should be completed over the next 3-5 years, Moopen said. \u201cWe are not only doubling down, we are tripling down on Saudi,\u201d she added. <\/p>\n

More on Aster\u2019s Saudi drive: <\/strong>Aster currently operates Riyadh\u2019s Aster Sanad Hospital \u2014 its only hospital here \u2014 which now has a 200-bed capacity after adding 50 earlier this month<\/a>. The healthcare provider is looking to boost its Saudi portfolio to more than 1k beds, 180 pharmacies, and 24 medical centers within the next three to five years, the business information service reported. Aside from Aster\u2019s current Riyadh-based hospital, the outfit is also looking to ramp up its pharmacies to 20 within the next few months. <\/p>\n

IPO plans are still in the making:<\/strong> \u201cIt\u2019s a good time to build before we take the company public, but the end goal is in the next few years to look at a listing,\u201d Moopen told Bloomberg. Aster DM Chairman and Managing Director Azad Moopen had said earlier this year<\/a> that the GCC unit was looking at a dual listing in Saudi and the UAE within the next three to five years. <\/p>\n

REMEMBER- <\/strong>Parent company Aster DM Healthcare spun off its GCC assets into a separate unit after a consortium led by Dubai-based private equity firm Fajr Capital snapped up 65% of its Gulf business<\/a> earlier this year for USD 1 bn. <\/p>\n","protected":false},"excerpt":{"rendered":"

The healthcare provider is looking to ramp up its Saudi portfolio to 1k hospital beds, 180 pharmacies, and 24 medical centers<\/p>\n","protected":false},"author":1,"featured_media":90059,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[2575],"tags":[780,3167,10,13,14],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-90058","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ma-watch","tag-aster-dm-healthcare","tag-aster-gcc","tag-enterpriseam-ksa","tag-healthcare","tag-ma-watch","wpautop","entry"],"acf":{"mongo_id":"ce07c44a-ddb9-4996-81f5-f4cff9998a26","order":"3","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/9\/2238.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Aster GCC eyes USD 250 mn in healthcare assets in Saudi expansion","related_issue":[90053],"teaser":"The healthcare provider is looking to ramp up its Saudi portfolio to 1k hospital beds, 180 pharmacies, and 24 medical centers","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/9\/.ae4f7a95-8e73-4d98-be9d-bf433170cf34.mp3"},"yoast_head":"\nAster GCC eyes USD 250 mn in healthcare assets in Saudi expansion - 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