Aster DM Healthcare expands to Bahrain, invests $2m

UAE-based Aster DM Healthcare group has expanded to Bahrain with a new medical centre in the Gudaibiya area, the company said in a statement.

The group said that it has invested around $2m to launch the operation and is planning to cash in on the local demand for healthcare.

Aster will open four more outlets in the country over the next two years – including both medical centres and pharmacies.

The expansion to Bahrain comes as Aster looks to diversify its operations, the bulk of which are based in Dubai and the UAE.

Earlier this year, Aster’s corporate strategies director Alisha Moopen told Gulf Business that the group plans to invest up to Dhs 500m in the GCC over the next two years through clinics, hospitals and pharmacies.

The Dubai-based healthcare group previously outlined an expansion strategy of reaching 300 pharmacies, 50 Aster medical centres and 20 Medcare units by 2017.

The company, which runs Aster Medical Centres and Medcare Hospital, launched three mega health projects in the UAE in 2014.

These included two facilities in Dubai and one in Sharjah, with a joint bed capacity of 270, to meet unmet demand for healthcare in the market. Of these, Aster opened a 100-bed hospital in Mankhool this year.

The group is also working on a $300m super specialty project called Aster Medicity in India.

Next year the Aster is expected to launch an initial public offering. Although no further details have been released regarding the listing, previous reports have indicated that the group is looking at markets in London, Dubai or India.