Left Menu
Development News Edition

Aster DM Healthcare plans to enter diagnostics business


Aster DM Healthcare plans to enter diagnostics business

Aster DM Healthcare, which currently operates 13 hospitals and eight clinics across India, is planning to make a foray into the diagnostics segment in order to scale up business in the country, a top company official said. The Kochi-based firm, which has a sizeable presence across GCC (Gulf Cooperation Council) states, plans to have around 40 standalone diagnostics laboratories in India over the next two years, with the first two outlets expected to come up in Bengaluru in the fourth quarter.

"The diagnostics laboratory business is huge in India and currently, there are only a few organized players in the segment. Our advantage is that we have the trust of the people as we already run so many hospitals here," Aster DM Healthcare Chairman Azad Moopen told PTI in an interview. The healthcare provider aims to invest around Rs 40 crore on the initiative, he added.

The company plans to have laboratories mainly in Karnataka and Kerala in the first phase, and in the next financial year, establish outlets in Andhra Pradesh, Telangana, Tamil Nadu, and Maharashtra, Moopen said. Aster DM Healthcare would also look at strategic acquisitions to expand this business and additional capital will be deployed accordingly, he added.

The company is already in the process of investing Rs 750 crore over the next three years to take total hospital bed capacity in the country to 4,500 from the current 3,693 beds. Aster is coming up with four new hospitals in Chennai, Thiruvananthapuram, and Bengaluru and is also expanding its Kolhapur-based hospital. The expansion would enable it to have around 1,500 additional beds in the country.

"We are looking at India operations to contribute 25 percent of our total revenue over the next 3-5 years. Currently, GCC's share is over 80 percent when it comes to overall revenues," Moopen said. Aster's India revenues currently stand at around Rs 802 crore, which is 18 percent of its overall revenue of Rs 4,115 crore.

The company has also come up with an innovation center in Bengaluru to support it across markets in introducing new innovations and technology in the healthcare sector.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)


TRENDING

OPINION/BLOG/INTERVIEW

Hyderabad Encounter: A sentiment analysis of public mood on day of encounter

Sentiment analysis of twitter users revealed that they showered salutes on Hyderabad police for eliminating alleged gang rapists of the veterinary doctor but only a few believe in cops version of successive events leading to encounter....

Hyderabad Encounter: Time to review modern judiciary and restore people’s confidence

Its probably for the first time in the history of independent India, the parliamentarians, chief ministers and ministers in the Union and State governments are openly supporting an encounter. This indicates the people from top to bottom hav...

What happens to your outstanding loans if the bank falls?

... ...

Time for a change! Innovations to stop the growing plastic pollution

As the planet is drowning in plastic pollution, many new innovative approaches and solutions have emerged to effectively deal with the menace....

Videos

Latest News

We should undertake task of expanding notion of human rights: President

The President of India, Shri Ram Nath Kovind said that the effective strengthening of human rights at the ground level is a collective task of the whole society. In this regard, the National Human Rights Commission has done well in spreadin...

EMERGING MARKETS-Stocks, currencies flat amid U.S.-China tariff jitters

Stocks were little changed on Tuesday, less than a week before the United States is due to impose more tariffs on Chinese goods. Markets are holding out hopes for an interim trade deal before the Dec. 15 deadline for new tariffs, although m...

Doping scandals in India very disturbing: Sports Minister

Sports Minister Kiren Rijiju on Tuesday said doping scandals in the country are very disturbing and India should strive to become a cleaner sporting nation not just by catching the cheats but also educating the ones who fail because of shee...

Japanese regulators recommend $22 million fine on Nissan

Tokyo, Dec 10 AP Japanese securities regulators are recommending that automaker Nissan be fined 2.4 billion yen 22 million over the under-reporting of compensation of its former chairman, Carlos Ghosn. The watchdog, the Securities and Excha...

Give Feedback