Aster DM Healthcare has acquired a majority stake of 57.5 per cent in Ramesh Hospitals, with an investment of around ₹200 crore. The move has resulted in the addition of 710 beds to Aster DM Healthcare’s existing capacity, bringing the total count to 4,317.
Ramesh Hospitals, situated in Andhra Pradesh, operates a total of five units. Now, four of its units will be rebranded as Aster Ramesh Hospitals. Last year, Aster had entered into a hospital operation and management agreement (O&M) with G Madegowda Super Specialty Hospital in Mandya, Karnataka, and Narayanadri Hospitals and Research Institute (NHRI) in Tirupati, Andhra Pradesh.
Currently, the healthcare provider has 17 operational hospitals, over 250 pharmacies, 2 reference labs, 20 satellite labs, 2 CPEC and 176 FPEC, and it continues to enhance its presence, said a release.
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“With the rebranding of the group, we are all set to become a leading healthcare brand for clinical expertise, high-end medical care and patient service in the South,” said Azad Moopen, Founder Chairman and Managing Director of Aster DM Healthcare.
Moopen’s family recently increased their stake in Aster DM Healthcare by 4 per cent — bringing the total to 41.88 per cent — through an additional investment of ₹460 crore. Aster shares zoomed 4.78 per cent on Friday to close at ₹316.50 on the BSE.
“This partnership has not only brought the synergy of a multinational player to Andhra Pradesh, but also enabled us to leverage the expertise of highly acclaimed doctors within the Aster Network, particularly in robotic surgeries, heart and liver transplantations, advanced oncology services and the adoption of best clinical and scientific practices,” said Ramesh Babu, MD, Aster Ramesh Hospitals.