Aster DM Healthcare signs MoU with Government of Tamil Nadu to invest Rs500 crore; Stock soars 4%

28 Mar 2022 , 10:10 AM

Aster DM Healthcare Limited, one of the largest integrated healthcare providers in GCC and India, has signed a Memorandum of Understanding with The Government of Tamil Nadu, India to set up healthcare facilities in the State. The MoU was presented by Azad Moopen, Founder Chairman and Managing Director, Aster DM Healthcare, who met M.K Stalin, Chief Minister of Tamil Nadu, on Saturday during his visit to Dubai.

The MoU proposed an investment of Rs500 crores in hospitals, pharmacies and laboratories in the State. This will help provide quality healthcare at affordable cost to the people of Tamil Nadu and generate employment for more than 3500 people.

Chief Minister M.K. Stalin has encouraged the initiative and ensured support to the healthcare group.

At around 10.13 am, Aster DM Healthcare Ltd was trading at Rs187.95 apiece up by Rs7.55 or 4.19% from its previous closing of Rs180.40 apiece on the BSE.

Currently, Aster has 14 hospitals, 9 clinics, and 66 labs & patient experience centres in India, with an approximate investment of Rs3000 crores. With 5 hospitals in Kerala including Aster Medcity, the flagship hospital of the group, the investment in Tamil Nadu will further solidify its presence in the South. Apart from Kerala, Aster has healthcare facilities spread across Karnataka, Maharashtra, Andhra Pradesh and Telengana.