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New Delhi, Nov 17 () 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 organised 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 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 per cent of our total revenue over the next 3-5 years. Currently, GCC's share is over 80 per cent when it comes to overall revenues," Moopen said.
 Aster's India revenues currently stand at around Rs 802 crore, which is 18 per cent of its overall revenue of Rs 4,115 crore.
 The company has also come up with an innovation centre in Bengaluru to support it across markets in introducing new innovations and technology in the healthcare sector. MSS HRS

Aster DM Healthcare plans to enter diagnostics business

New Delhi, Feb 13 () Healthcare services provider Aster DM Healthcare on Thursday said it has received approval of the United Arab Emirates (UAE) government to hold 100 per cent legal ownership of its business in Dubai. Earlier, as per UAE law requirements, nationals of UAE were required to be the legal/registered owners of at least 51 per cent of the share capital of UAE companies and foreign investors could not acquire more than 49 per cent legal ownership, Aster DM Healthcare said in a statement. The Government of UAE has now granted approval of 100 per cent ownership to foreign companies in approved sectors, including healthcare sector, it added. The completion of transfer of 100 per cent legal ownership of the subsidiaries in the Emirates of Dubai is expected to conclude by the end of current financial year, Aster DM Healthcare said. The company is in the process of obtaining similar approvals in other Emirates of UAE, it added. "Dubai is a significant market for us as it contributes almost 80 per cent to our GCC (Gulf Cooperation Council) business. I thank and appreciate the visionary rulers of UAE for this forward-looking change in law which will give impetus for more investments into the country," Aster DM Healthcare founder Chairman and MD Azad Moopen said. Shares of Aster DM Healthcare on Thursday closed 1.77 per cent lower at Rs 174.45 per scrip on the BSE. AKT RVK

Aster DM Healthcare gets UAE govt's nod for full ownership of Dubai business

New Delhi, May 22 () Bengaluru-based Aster DM healthcare and investment firm Life Science Vision Capital along with social entrepreneurship promoter firm Social Alpha jointly announced on Friday to have set up the country's first incubator-cum-accelerator to develop health technology start-ups. The incubator-cum-accelerator, XHealth Innovation Lab, has been set up with an initial corpus of USD 50 million (nearly Rs 380 crore) for which investors have already given commitment for 60 per cent of the funding, according to a source involved in the venture. Aster DM Healthcare Chief Innovation Officer Satish Prasad Rath said COVID-19 has pushed the healthcare system to look for disruptive solutions be it newer lab-on-a-chip diagnostics, support system for healthcare workers in form of personal protection equipment or remote ICU diagnostics to virtually managing chronic and elderly patients through digital healthcare. "Combining Aster's network of hospitals and healthcare expertise with Life Science Vision Capital's investment philosophy and industry-leading capabilities, we aspire to accelerate the discovery of new therapies by leveraging deep tech in the field of healthcare. We intend to build these newer solutions that can revitalise the healthcare system in a sustainable way," Rath said. The newly formulated innovation labs will run its own incubator XHealth Innovation Lab and incubate 10 start-ups in each cohort twice a year and develop both scientific and commercial solutions, the statement said. "Life science and health tech companies are always looking for a data-driven digital innovation approach to help fuel the creation of accessible healthcare solutions. We look forward to collaborating with Aster DM healthcare and other business partners to help accelerate the cycle of healthcare innovation to populations throughout the world," LSV Capital Partners Managing Partner Shu Joshi said. Aster and LSV will leverage deep analytics across the new platform to better understand key diseases and extract-related insights. "The innovation lab will run its own 12-week incubator programme coupled with 2 weeks at Aster's hospitals in Bengaluru with 10 health tech start-ups graduating in January 2021. Applications will open on June 20 for the first cohort starting in October 2020," the statement said. PRS HRS

Aster DM Healthcare, LSV Capital set up health tech incubator with USD 50 mn corpus

New Delhi, Feb 11 () Healthcare services provider Aster DM Healthcare on Tuesday reported a 33.77 per cent rise in consolidated net profit at Rs 151.43 crore for the quarter ended on December 31, 2019. The company had posted a net profit of Rs 113.20 crore for the corresponding period of previous fiscal, Aster DM Healthcare said in a filing to the BSE. Consolidated revenue from operations stood at Rs 2,321.66 crore for the quarter under consideration. It was Rs 2,150.10 crore for the same period year ago. Shares of Aster DM Healthcare closed at Rs 167 per scrip on the BSE, up 2.42 per cent over previous close. AKT RUJ

Aster DM Healthcare Q3 net profit up 34 pc to Rs 151.43 cr

<keyword id="156025" type="UNKNOWN" weightage="20" keywordseo="Medical-Tourism">Medical tourism</keyword> is the latest trend that has taken over the private sector <keyword id="6354525" type="COMPANY" weightage="20" keywordseo="Healthcare">healthcare</keyword> in India. Plush rooms that give you feel of a five star hotels, <keyword id="46484" type="COMPANY" weightage="20" keywordseo="Rolls-Royce">Rolls-Royce</keyword> to travel in, food court, in house cinema lounge…they have all that one can imagine and ask for. 
 It is healthcare firms like <keyword id="161042" type="COMPANY" weightage="20" keywordseo="Fortis-Healthcare-Ltd">Fortis Healthcare Ltd</keyword>, <keyword id="737148" type="COMPANY" weightage="20" keywordseo="Apollo-Hospitals-Enterprise-Ltd">Apollo Hospitals Enterprise Ltd</keyword> and <keyword id="6382949" type="COMPANY" weightage="20" keywordseo="Medanta">Medanta</keyword> that have either constructed or advanced the facilities to provide its consumers with the high-end services. And <keyword id="6355988" type="CITY" weightage="20" keywordseo="Assocham">ASSOCHAM</keyword> believes, this business could grow as much as 20% a year and have the potential to become a $125 billion market in another two years. Strong demand of quality medical services has given a boom to the market and overseas competitors including Dubai-based <keyword id="2014913" type="UNKNOWN" weightage="20" keywordseo="Aster-DM-Healthcare">Aster DM Healthcare</keyword> and <keyword id="2872810" type="UNKNOWN" weightage="20" keywordseo="ABV-Group">ABV Group</keyword> too are investing aggressively in India. 
 
"The fact that you actually come for surgery or medical treatment would be an incidental part of the experience," ABV Group Chief Executive Advet Bhambhani told Reuters. 
 
ABV, one of the biggest performers is planning to invest $78 million to smarten up the hotels and to provide Rolls-Royce to the patients. Not just this, but there are special packages in which you can include site-seeing along with the surgical treatments. 
 Coming back to the Delhi based <keyword id="2872812" type="UNKNOWN" weightage="20" keywordseo="Fortis-Memorial-hospital">Fortis Memorial Hospital</keyword>, which is equipped with an in-house cinema lounge and food court and is promising to provide top-notch services to its consumers. On the other hand we have Kerala based Aster Medcity, a 575-bed hospital which have warm lighting and hardwood floors that gives the patients feel of a luxury hotel room. 
 
The medical tourism sector is expected to grow to $10.3 billion in 2020, from $2.8 billion now, consultancy PwC says. A 2014 study by consultants KPMG ranks India as the third top Asian destination for medical tourists after Thailand and Singapore, with 25% growth a year, outstripping the 16% growth in Thailand, said the report published in ET. 
 
Image: thinkstock

How about a Rolls Royce ambulance or a fine dining restaurant in a hospital! Welcome to 5-star healthcare in India

New Delhi, Feb 1 () The healthcare industry on Saturday welcomed the initiatives announced by the government in Budget 2020-21 to improve the access to medical care across the nation. 
 "Budget 2020 is a definitive step forward in the Government of India's commitment to making India healthier and a model for the world to emulate," Apollo Hospitals Group Chairman Prathap C Reddy said.
 In addition to initiatives announced to improve access to medical care across the nation and boost human health resources, it was encouraging that vital determinant of good health which includes wellness, nutrition, clean drinking water, and sanitation were at the forefront of this Budget, he added.
 Calling it a farsighted budget, Reddy said the Finance Minister has announced "innovative initiatives that will enhance ease of living, improve the health quotient and boost opportunities for education and job creation, for all sections of our society and meet the expectations of an aspirational India."
 In similar vein, NATHEALTH President H Sudarshan Ballal said the budget accorded priority on capacity building by improving health infrastructure in Tier II &amp; III cities and rural areas.
 "Setting up hospitals on private public partnership with the provision of viability gap funding in 112 Aspirational Districts in the country go a long way in creating a robust health infrastructure especially in areas where Ayushman Bharat benefits have not yet reached especially to the weaker section," he added.
 Calling it a directionally sound Budget, Biocon Chairperson &amp; MD Kiran Mazumdar-Shaw said: "I am happy to see the government's focus on reviving economic growth."
 The proposed amendments to the Companies Act for removing criminal action in case of tax disputes is a step towards infusing trust among India Inc, she added.
 The use of Machine Learning and Artificial Intelligence for preventive healthcare along with increasing the number of Jan Aushadhi Kendras will take forward the government's agenda of healthcare for all, she added.
 "The measures announced in this Budget can give returns in the medium to long-term. However, we need to make sure they are implemented fast to have immediate impact. Overall a satisfactory budget," Mazumdar-Shaw said.
 Highlighting that budget was prepared in difficult Economic scenario , Aster DM Healthcare founder chairman Azad Moopen said the Union Budget has managed to create opportunities for growth within limited resources.
 "Eradication of tuberculosis in the country by the year 2025 is a great step towards healthier India," he added.
 "There is proposal for viability fund gap support for hospitals in Tier 2 and 3 cities for meeting the requirement for Ayushman Bharat. This will give more accessibility to the people in the smaller cities and villages," Moopen said.
 However, it is unfortunate that the allocation of Rs 69,000 crore for the sector is only just 1 per cent of GDP which will be highly inadequate for any major leap forward in the sector, he added.
 Applauding the announcement providing boost to the domestic medcial device sector, Association of Indian Medical Device Industry (AiMeD) Forum Coordinator Rajiv Nath said: "Finally we may have something to help address over Rs 38,837 crore, 80-90 per cent import dependent Indian Medical Devices Sector."
 It's an excellent idea to tax imports of medical devices to fund the capacity building of healthcare delivery in public healthcare and with twin advantage of accelerating medical devices manufacturing as a Make in India enabler so that Indian national healthcare security concerns are addressed, he added.
 Deloitte India, Partner, Lead- Life Science and Health Care Charu Sehgal said "the budget 2020 has continued with the healthcare themes announced in 2018 but has not made any significant increase in allocation or incentives."
 The overall allocation has increased marginally to Rs 69,000 crore from 63,000 crore last year. "We will be nowhere closer to the long awaited target of 2.5 per cent of GDP," she added.
 "The budget is focused on the holistic vision of healthcare, which proposes to provide Rs 69,000 crore that includes Rs 35,600 crore for nutrition related programs for 2020-21, and the same will enable to reduce pre-term death and malnutrition in society," Paras Healthcare COO Shankar Narang said. AKT DRR

Healthcare industry welcomes govt's move to improve access to medical care in Budget

<ul><li>Shares of <keyword id="56368" type="PERSON" weightage="20" keywordseo="Apollo-Hospitals">Apollo Hospitals</keyword> have surged 178% in the last one year and 103% so far in 2021.</li><li>The healthcare company reported a net profit of ₹489 crore in the June quarter as against a loss of ₹208 crore last year.</li><li>Analysts remain positive on the stock and believe the company will continue to witness healthy growth verticals.</li></ul>Shares of Apollo Hospitals have more than doubled in the last one year as the company has delivered strong financial performance. The Chennai-based healthcare company is known for its chains of hospitals across the country. The company reported a June quarter net profit of ₹489 crore on Friday as against loss of ₹208 crore last year. The stock has gained 16% since Monday. A report by HDFC Securities says that the company has seen robust growth across business segments. “Despite COVID, the core hospital business posted a strong trend and it is likely to witness healthy growth...Its diagnostics business continues to see steady ramp-up and it is on track to achieve ₹5 billion revenue by FY23,” said the broking firm while maintaining ‘ADD’ rating on the company’s stock. <div type="image" title="Apollo revenue chart" height="900" width="1200" msid="85398004" hostid="261"></div> Analysts at ICICIdirect stated that the company’s performance was better than estimates led by strong recovery in occupancies along with average revenue per occupied bed (ARPOB), stockpiling by pharmacy customers during the second COVID-19 wave and incremental revenue from vaccination. “We remain positive on Apollo Hopitals’s long-term outlook considering its strong brand and pan-India presence in the hospital segment, margin expansion potential and aggressive focus on creating digital network for pharmacy, doctor consultation, clinics and diagnostics,” said the report by ICICIdirect while retaining a ‘ADD’ rating on the stock. <div type="image" title="Apollo stock chart" height="900" width="1200" msid="85398029" hostid="261"></div> Also, the company has delivered one of the highest returns to investors among its peers. The market capitalisation of the company doubled with the rise in its share price and stood at ₹70,747 crore as of August 17. <table style="border-width: initial; border-style: none;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Largest private healthcare service providers in India </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Stock returns in last 1 year </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Max Healthcare Institute </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">205% </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Apollo Hospitals Enterprise </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">188% </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Shalby </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">124% </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Fortis Healthcare </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">95% </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Healthcare Global Enterprises </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">81% </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Narayana Hrudalaya </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">47% </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Aster DM Healthcare </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">36% </td></tr></tbody><tbody></tbody></table> SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/cryptocurrency/news/indias-crypto-bill-will-still-have-a-few-hurdles-to-clear-before-becoming-a-law-even-if-the-cabinet-approves/articleshow/85397358.cms">India’s crypto bill will still have a few hurdles to clear before becoming a law, even if the Cabinet approves</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/investment/news/top-10-large-cap-mid-cap-and-small-cap-mutual-funds-stocks-in-india/articleshow/85395149.cms">Vodafone, YES Bank and some Adani Group stocks among top picks of mutual fund houses</a>

Apollo Hospitals gives multibagger returns in last one year on growth in pharmacy business, vaccination revenue

Dubai, May 10 () The first batch of 88 nurses from India arrived in the UAE to help the country's stretched healthcare professionals amid a surge in the number of COVID-19 infections in the Gulf nation that has crossed 17,000, according to media reports.The Ministry of Health and Prevention said the UAE reported 624 new cases on Saturday, taking the total number of infections to 17,417.The number of fatalities reached 185 after 11 deaths were reported on the day.The nurses, who are from Aster DM Healthcare hospitals in the states of Kerala, Karnataka and Maharashtra, will be put under quarantine for 14 days after which they will be assigned to various field hospitals as per requirement, the Khaleej Times reported.They arrived on a special flight at the Dubai airport on Saturday.India's Ambassador to UAE Pavan Kapoor said that this would further strengthen the long-standing friendship between the two countries."India and the UAE are showing how a strategic partnership translates into concrete cooperation on the ground in dealing with this pandemic. Helping a friend in need is the motto of cooperation between our two countries," he said.According to a report in the Gulf News, the arrival of the nurses was facilitated in a tie-up with Aster DM Healthcare group, with the support from the Indian Consulate and the UAE's Ministry of Foreign Affairs and International Cooperation.India's Consul General Vipul said, "It is yet another example of strong India-UAE bilateral ties and reflects deep understanding of problems faced by expatriates as well as UAE nationals in the UAE.""We feel extremely proud to be a part of this joint initiative in providing relief for COVID-19 patients in different facilities," he said.Azad Moopen, Founder Chairman and Managing Director of Aster DM Healthcare, said, the group felt duty bound to assist UAE by bringing their medical professionals from India for best possible healthcare delivery to citizens, residents and visitors during the COVID-19 situation.Humaid Al Qutami, Director-General of the Dubai Health Authority said, "This initiative is testimony to the relationship shared by the two nations and it highlights the close collaboration between the government and the private health sector.The Indian nurses, who specialise in working in the intensive care unit, said that they are happy to be part of the initiative, the report in Khaleej Times said.Royin Mathew Thomas, one of the nurses in the delegation, said it is his duty to serve people, and so is happy to help the UAE battle the pandemic as part of this special delegation from India.Dipika Suraj Khavale had to leave his 2-year-old child back in India to be part of the team. RS AKJ RS

You Searched For "Aster DM Healthcare" and got 8 results

Aster DM Healthcare plans to enter diagnostics business

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Aster DM Healthcare gets UAE govt's nod for full ownership of Dubai business

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Aster DM Healthcare, LSV Capital set up health tech incubator with USD 50 mn corpus

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How about a Rolls Royce ambulance or a fine dining restaurant in a hospital! Welcome to 5-star healthcare in India

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