Hospital Chain Aster to Fuel India Expansion Through Buyouts
- Chairman says firm has ‘firepower’ after hiving off Gulf arm
- Aster DM’s share price has jumped 20% since $1 billion deal
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Hospital and pharmacy chain Aster DM Healthcare Ltd. said it would look to acquire private operators to fuel expansion in India after hiving off its Gulf business for $1 billion.
Aster plans to add an additional 1,500 beds to the current 4,800 capacity in the world’s most populous country over the next three years and “look at companies that are not listed, but which have good performance,” Azad Moopen, Aster’s chairman and managing director, said in an interview on Bloomberg Television Thursday.