The Company will invest around Rs. 250 crore to upgrade the existing facility which is expected to be commissioned by the fiscal year 2027.
Spread across an area of 4.45 lakh square feet in Hebbal, Bangalore, Aster CMI Hospital, is one of the leading super-specialty hospitals with contemporary state-of-the-art facilities offering comprehensive primary care to quaternary care services, the hospital said in a press statement.
Aster founder Dr. Azad Moopen said, “Our phase-wise expansion is aligned with our vision to serve the growing needs for advanced and quality healthcare. Aster CMI Hospital since its launch in 2016 has revolutionized the healthcare market in Bengaluru and the whole of South India. Today, the hospital stands amongst the leading players in the market. With many innovative and ambitious initiatives, Aster DM Healthcare has radically catalyzed the healthcare revolution in India. The current Indian healthcare market looks highly promising, and our efforts will be to increase our footprint in the country dynamically.
“We are investing heavily in our people, innovation, and infrastructure to differentiate ourselves and create long-term value for all our stakeholders. The expansion of Aster CMI Hospital thus solidifies our unwavering commitment to the Indian business. The overall India business EBITDA for Aster DM Healthcare has grown at the rate of 35% CAGR over the past 5 years, which is reflected in the performance of EBITDA margin as well. We expect the strong performance to continue in the future, which will be supported by operational leverage on account of brownfield expansion and implementing various cost optimization measures.”
Aster DM Healthcare CEO Dr. Nitish Shetty said, “We are running our existing hospital [Aster CMI] at full capacity, hence we have decided to expand the infrastructure to accommodate the growing needs of patients. Aster CMI Hospital has already set new benchmarks on healthcare excellence and this expansion cements our promise to making quality healthcare easily accessible to the people in the region. This expansion of Aster CMI Hospital is expected to have a positive impact on both EBITDA and PAT, as it involves minimal fixed costs for operating the additional beds. We do not expect any margin dilution in the short term as well. Aster DM Healthcare is poised to make a significant impact on the healthcare landscape with its focus on strategic growth, patient-centric care, and expansion in existing and newer geographies.”
