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Aster DM to acquire 22.7% stake in Sri Sainatha Multispeciality Hospitals

Aster DM to acquire 22.7% stake in Sri Sainatha Multispeciality Hospitals

Aster DM to acquire 22.7% stake in Sri Sainatha Multispeciality Hospitals
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By Asmita Pant  Oct 20, 2022 5:30:28 PM IST (Published)

The total cost of acquisition is Rs 25 crore. The acquisition is expected to be completed by November 30, 2022. 

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Aster DM Healthcare Ltd on Thursday announced that the company has entered into a share purchase agreement with promoters and relatives of Sri Sainatha Multispeciality Hospitals Private Ltd to acquire remaining 22.7 percent of shares.
The shares of the company ended 1.2 percent higher at Rs 249.8 on BSE on Thursday.  Post the completion of the acquisition, Sri Sainatha will become a wholly owned subsidiary of Aster DM.
The total cost of acquisition is Rs 25 crore. The acquisition is expected to be completed by November 30, 2022.
Earlier, the company announced that Aster Hospital, the hospital arm of the company, has opened a 100-bed multispecialty facility in the emirate of
Sharjah. The medical facility, spread across 200,000 square feet, was inaugurated by Sheikh Sultan bin Ahmed Al Qasimi, Deputy Ruler of the Emirate of Sharjah and Deputy Chairman of the Sharjah Executive Council, the company said in an exchange filing.
Aster DM Healthcare's retail arm Aster Pharmacy has recently entered into a long-term joint venture agreement with Al Hokair Holding Group to set up and operate pharmacies in Saudi Arabia.
Through this partnership, Aster Pharmacy aims to set up and operate more than 250 stores over a period of five years and provide ease of access to pharmaceutical and wellness products across the segments of nutrition, baby care, skincare, and home healthcare under the 'Aster Pharmacy' brand.
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