Aster DM Healthcare
Aster DM Healthcare Limited is an Indian healthcare company founded by Azad Moopen in 1987. The company is registered in Bengaluru, which became the headquarters for its India operations following the separation of its Gulf Cooperation Council business in 2024. Aster operates a network of hospitals, clinics, pharmacies, and diagnostic centres across several Indian states.
History
Aster DM Healthcare was established by Azad Moopen in 1987 as a single-doctor clinic. The organisation gradually expanded through hospitals, clinics, pharmacies, diagnostics, and training institutions. Its formal presence in India began in 2001 with the Malabar Institute of Medical Sciences in Kozhikode, Kerala, which was later integrated into the Aster network.In 2014, the company opened Aster Medcity in Kochi. In 2016, it acquired Kavery Medical Institute in Bengaluru, redeveloping it as Aster CMI Hospital. The same year, it took over the DM Wayanad Institute of Medical Sciences and acquired a majority stake in Dr. Ramesh Hospitals in Andhra Pradesh. In 2018, Aster added Sangamitra Hospitals to its network and launched an initial public offering, with shares subsequently listed on Indian stock exchanges.
New facilities established in the following years included Aster MIMS Kannur and Aster RV Hospital in Bengaluru in 2019. In 2021, the company opened a hospital in Kottakkal focused on women and children, followed by Aster Whitefield in Bengaluru in 2023.
In November 2023, Aster DM Healthcare announced a plan to separate its GCC and India businesses. The demerger was approved in January 2024. In April 2024, a consortium led by Fajr Capital acquired a 65% stake in Aster GCC, while the Moopen family retained 35% and operational control. Within India, the Moopen family continued to hold a 41.88% stake in Aster DM Healthcare. The company's subsidiary, Affinity Holdings, received 907.6 million from the transaction.
In November 2024, Aster announced a merger with Quality Care India Ltd., to form Aster DM Quality Care Ltd.
In 2025, the company opened a 100-bed hospital in Sharjah and a 264-bed Aster MIMS hospital in Kasaragod, Kerala. It increased its stake in Dr. Ramesh Cardiac and Multispecialty Hospital Private Limited to 70.49%.