By: Shweta Jain
Source: http://gulfnews.com
Category: Investment In India
Dubai: DM Healthcare, a Dh1.1 billion Dubai-based private health care group, plans to invest Dh2 billion into expansion over the next three years and plans to launch an IPO (initial public offering) to raise funds for the expansion, according to the group's chairman.
"We plan to invest Dh1 billion each in the GCC and India by 2015 in order to expand operations in the two regions. As we grow, it is only natural that we would need to opt for an IPO for further expansion. Though we haven't set a fixed date it looks like we would need to go for an IPO in two to three years' time," Dr Azad Moopen, chairman of DM Healthcare, told Gulf News, adding that the company would "look at existing market conditions" at the time to see where it would want list.
The group, which has a presence in the Middle East and India through its Aster and Medcare brands, plans to increase the number of DM Healthcare units in the region to 300 by 2015, according to Moopen.
"We plan to increase our total number of units in the GCC and India from the present 129 to about 300 in 2015. The expansion includes primary and tertiary health care units," he told Gulf News.
With a significant presence in the UAE, Oman, Qatar and Saudi Arabia, the plans aim to start operations in newer regional markets such as Iraq, Libya and Sudan, said Moopen, adding that there is a definite requirement for health care facilities in these markets.
Meanwhile, DM Healthcare's India plans include opening new hospitals in Tier-II and Tier-III cities.
"By 2015, we will have about 12-15 hospitals in India under our Aster brand name with each equipped with an average of 200 beds," said Moopen, adding that the company has not yet thought of taking its other brand, Medcare, to India. The group already has strong operations in Kerala in India.
"We have hospitals in Kolhapur and Pune in Maharashtra and are now looking at a hospital in Mumbai," he said.
With aggressive plans lined up over the next three years, DM Healthcare plans to deliver a turnover of Dh2.5 billion by 2015, said Moopen.
He added that two equity firms — India Value Fund Partners and Olympus Capital - have invested in DM Healthcare and hold a minority stake in the company.
Source: http://gulfnews.com/business/investment/dm-healthcare-to-invest-dh2b-in-gcc-india-1.979699
Source: http://gulfnews.com
Category: Investment In India
Dubai: DM Healthcare, a Dh1.1 billion Dubai-based private health care group, plans to invest Dh2 billion into expansion over the next three years and plans to launch an IPO (initial public offering) to raise funds for the expansion, according to the group's chairman.
"We plan to invest Dh1 billion each in the GCC and India by 2015 in order to expand operations in the two regions. As we grow, it is only natural that we would need to opt for an IPO for further expansion. Though we haven't set a fixed date it looks like we would need to go for an IPO in two to three years' time," Dr Azad Moopen, chairman of DM Healthcare, told Gulf News, adding that the company would "look at existing market conditions" at the time to see where it would want list.
The group, which has a presence in the Middle East and India through its Aster and Medcare brands, plans to increase the number of DM Healthcare units in the region to 300 by 2015, according to Moopen.
"We plan to increase our total number of units in the GCC and India from the present 129 to about 300 in 2015. The expansion includes primary and tertiary health care units," he told Gulf News.
With a significant presence in the UAE, Oman, Qatar and Saudi Arabia, the plans aim to start operations in newer regional markets such as Iraq, Libya and Sudan, said Moopen, adding that there is a definite requirement for health care facilities in these markets.
Meanwhile, DM Healthcare's India plans include opening new hospitals in Tier-II and Tier-III cities.
"By 2015, we will have about 12-15 hospitals in India under our Aster brand name with each equipped with an average of 200 beds," said Moopen, adding that the company has not yet thought of taking its other brand, Medcare, to India. The group already has strong operations in Kerala in India.
"We have hospitals in Kolhapur and Pune in Maharashtra and are now looking at a hospital in Mumbai," he said.
With aggressive plans lined up over the next three years, DM Healthcare plans to deliver a turnover of Dh2.5 billion by 2015, said Moopen.
He added that two equity firms — India Value Fund Partners and Olympus Capital - have invested in DM Healthcare and hold a minority stake in the company.
- Dh1b: each DM Healthcare to invest in GCC, India
- 300: number of units to grow within region by 2015
Source: http://gulfnews.com/business/investment/dm-healthcare-to-invest-dh2b-in-gcc-india-1.979699
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