The family of Aster DM Quality Care founder and Executive Chairman Dr Azad Moopen has increased its stake in the recently merged hospital chain, buying an additional 0.57 per cent stake from TPG-backed Centella Mauritius Holdings for ₹350.34 crore.
Union (Mauritius) Holdings Ltd, owned and promoted by Dr Moopen and his family, acquired 46.09 lakh equity shares of Aster DM Quality Care at ₹760 apiece on September 2. The transaction takes the promoter family’s holding in the company to about 24.58 per cent.
Stake reduction
The purchase comes shortly after TPG substantially reduced its exposure to the healthcare company. In August, TPG, through Centella Mauritius Holdings, sold a 6.66 per cent in Aster DM Quality Care for ₹4,451 crore through open-market transactions, reducing Centella’s stake from 9.90 per cent to 3.24 per cent. The latest transaction further reduces Centella’s holding, although it remains a shareholder in the company.
The stake purchase also comes about two months after Aster DM Healthcare and Quality Care India began operations as a merged entity, bringing four healthcare brands — Aster DM, CARE Hospitals, KIMSHEALTH and Evercare — under one platform. The combined company operates 39 hospitals across 28 cities, with more than 10,000 beds.
The merger was aimed at creating a scaled healthcare platform with a wider geographic footprint and greater capacity to expand beyond the major metropolitan markets. The company has identified tier-II and tier-III cities as key markets for bringing specialised and advanced healthcare closer to patients.
The enlarged platform is also pursuing capacity expansion. The merged entity had earlier outlined plans to reach about 13,300 beds by FY27, with roughly 3,100 beds planned to be added through a combination of brownfield and greenfield projects.
For the Moopen family, the latest purchase increases its economic interest in the enlarged healthcare platform as it enters its next phase of expansion.