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Aster DM Healthcare announces Rs 250 crore hospital expansion plan in Bengaluru

IANS | May 27, 2024 10:53 AM

BENGALURU: Aster DM Healthcare on Monday announced a Rs 250 crore expansion plan for its Aster CMI Hospital in the city.

The Bengaluru-based multispecialty hospital unit will have an additional infrastructure expansion of 300, 000 sq feet, increasing its bed capacity from the existing 500 beds to 850.

The existing facility is expected to be commissioned by FY2027.

“The current Indian healthcare market looks highly promising, and our efforts will be to increase our footprint in the country dynamically. The expansion of Aster CMI Hospital thus solidifies our unwavering commitment to the Indian business, ” said Dr. Azad Moopen, Founder Chairman, Aster DM Healthcare.

"The overall India business EBITDA for Aster DM Healthcare has grown at the rate of 35 per cent CAGR over the past 5 years, which is reflected in the performance of EBITDA margin as well, " he informed.

The company said it aims to add about 1, 700 beds by FY27 taking the total bed tally in its hospitals in India to more than 6, 600.

The plan includes the upcoming Aster Capital in Trivandrum, and Aster MIMS Kasargod and adding bed capacity to the existing hospitals. The Company said it will also be eyeing markets like Maharashtra and Uttar Pradesh.

The capital allocation for this expansion is in the range of 1, 000 crore, the company said.

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