Aster DM Healthcare plans to add 1500 beds by FY27; aims to be among top 3 in India

Posted on : Jan 23, 2024

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Aster DM Healthcare Ltd (India) one of the largest and fastest-growing integrated healthcare providers in India is set to fortify its presence by expansion through organic and inorganic routes. Dr. Nitish Shetty, CEO, Aster DM Healthcare India, said that the company plans to increase its capacity by adding 1500 beds over the next three years. This expansion is part of the company's commitment to meeting the growing healthcare demands and an objective to become one of the top three players in the country.

The expansion plan will encompass a mix of brownfield and greenfield projects, contributing to the company's growth strategy. The company has an outlay of Rs. 850-900 crore which will ensure robust financial support for driving the expansion of 1500 beds over the next 2-3 years. This funding, a mix of brownfield and greenfield projects, fuels our growth strategy.

This expansion will encompass the upcoming Aster Capital in Trivandrum, featuring 350-plus beds in the first phase by FY26, and Aster MIMS Kasargod with 200-plus beds. Then the company will be looking at adding bed capacity to the existing hospitals in Medcity, MIMS Kannur by about 100 beds each and Aster Whitefield with 159 beds.

At present, Aster operates in five southern states with a network comprising 19 hospitals, 13 clinics, 226 pharmacies, and 251 patient experience centers. The hospitals in India are located in Kerala, Karnataka, Maharashtra, AP & Telangana.

Dr. Nitish Shetty, CEO, Aster DM Healthcare emphasized the company's strategic approach, stating, “We find Maharashtra highly attractive, drawing parallels with our experience in Bengaluru. Our aim is to replicate the success achieved in Bengaluru and expand our presence in promising markets with similar demographics and potential. While we have a modest presence in Hyderabad, there’s a desire to expand.”

Aster DM's expansion plans also extend to exploring opportunities for partnership with private equity players to support its growth trajectory. The company's dedication to maintaining high standards of patient-centric care and leveraging its expertise in tier-II and tier-III cities reflects its commitment to offering sustainable healthcare solutions beyond metro areas.

Dr. Shetty emphasized the company's regional approach, stating, "With 70% of our business thriving in tier-I, tier-II, and tier-III cities, Aster is uniquely positioned to roll out our model across more locations, offering sustainable healthcare solutions with proven success beyond metro areas."

In conclusion, Aster DM Healthcare's ambitious expansion plans underscore its commitment to enhancing healthcare infrastructure and services in India. With a focus on strategic growth, patient-centric care, and regional expansion, the company is poised to make a significant impact on the healthcare landscape, ultimately benefiting communities and individuals across the country.