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Aster DM Healthcare Limited, a healthcare provider in India, has announced its expansion plan for Aster CMI Hospital, a multispecialty hospital in Bengaluru. The hospital will have an infrastructure expansion of 300,000 sq feet with an investment of around ₹250 crore.
The hospital plans to increase its bed capacity from existing 500 to 850 beds by FY2027. This expansion is in line with Aster’s mission of becoming the 3rd largest healthcare player in India within the next 3 years.
Spread across an area of 4.45 lakh square feet, Aster CMI Hospital is located in Hebbal, Bangalore. Aster DM Healthcare Limited currently has 19 hospitals with 4867 beds, 13 clinics, 215 pharmacies (Operated by Alfaone Retail Pharmacies Private Limited under brand license from Aster), and 232 labs and patient experience centers across 6 states in India.
Dr. Azad Moopen, Founder Chairman, Aster DM Healthcare said, “Our phase-wise expansion is aligned with our vision to serve the growing needs for advanced and quality healthcare. Aster CMI Hospital since its launch in 2016 has revolutionized the healthcare market in Bengaluru and the whole of South India.
Today, the hospital stands amongst the leading players in the market. With many innovative and ambitious initiatives, Aster DM Healthcare has radically catalyzed the healthcare revolution in India. The expansion of Aster CMI Hospital thus solidifies our unwavering commitment to the Indian business.
The overall India business EBITDA for Aster DM Healthcare has grown at the rate of 35% CAGR over the past 5 years, which is reflected in the performance of EBITDA margin as well. We expect the strong performance to continue in the future, which will be supported by operational leverage on account of brownfield expansion and implementing various cost optimization measures.”
The Company plans to add 1700 beds by FY27, taking the total bed tally in India to 6600+ through the organic route. It claims to further look for expansion through the inorganic route, to achieve its aim of becoming one of the top 3 integrated healthcare providers in India.
The plan encompasses a mix of brownfield and greenfield projects, including the upcoming Aster Capital in Trivandrum, Aster MIMS Kasargod and adding bed capacity to the existing hospitals. The Company also claims to be eyeing potential markets such as Maharashtra and Uttar Pradesh. The capital allocation for this expansion is ₹1000 crore.
(With inputs from by bl Intern Nivasini Azagappan)
- Also read: Casting a wide net for health insurance
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