Aster DM Healthcare Limited, one of fastest growing integrated healthcare providers in GCC and India, has today announced that the separation of its India and GCC businesses and the proposed investment in the Company’s GCC business by a consortium of investors led by Fajr Capital, a sovereign-owned private equity firm headquartered in the UAE, is nearing imminent completion.

In November 2023, corporate approvals were received to separate the Company’s India and GCC businesses into two distinct and standalone entities to unlock long-term value.

Under the separation plan, a Fajr Capital-led consortium entered into a definitive agreement to acquire a 65% stake in the Company’s GCC business. The plan was approved by the Company’s shareholders in January 2024.

The Moopen family will continue to lead and operate the GCC business retaining a 35% stake in the buyer entity.

Dr. Azad Moopen, Founder Chairman, Aster DM Healthcare said, “The separation of Aster’s India and GCC businesses will unlock the value and potential of both businesses and provide the needed impetus for the company to further strengthen its presence in both geographies. We are very near to closure and excited to embark on the next stage of growth.”

Commenting on this Alisha Moopen, Managing Director and CEO, Aster GCC business said, “With most of the processes near closure and necessary approvals in place, we are almost at the closure of the transaction and ready to embark on the next stage of our growth journey which would see us expand our presence in Saudi Arabia and further strengthen our footprint in UAE, Oman and Qatar. We are delighted to have Fajr Capital and its consortium partners in our journey and thankful to the authorities for their continued support.”