Aster DM Healthcare has entered into an agreement with Subramanya Constructions & Development Company Limited (SCDC), a leading real estate developer, to construct a new hospital in Chennai. The 500-bed advanced multi-specialty hospital is expected to be commissioned in 2020.
 
The hospital, which would be situated at a prime location in Chennai, will provide advanced healthcare services to the residents of Tamil Nadu and customers from other states in India as well as overseas. Aster DM, which was recently listed at NSE and BSE already operates 11 hospitals in south India with 4,037 installed beds.  The new facility is in line with Aster DM’s strategy of strengthening its presence in India.
 
Commenting on the expansion into the Chennai healthcare market, Dr Azad Moopen, founder chairman and managing director of Aster DM Healthcare, said, that looking at the demand supply gap, there is a requirement for more hospitals in India in general and in Chennai in particular.
 
With our presence in Kerala, Karnataka, Telangana, Andhra and Maharashtra, we believe that our presence in Tamil Nadu would benefit patients in the country. We hope to provide advanced tertiary and quaternary medical care of the highest quality at affordable cost to the population of Tamil Nadu. We also see India as a key market for Aster DM Healthcare in future, he added.
 
According to Dr Harish Pillai, CEO, Aster Hospitals & Clinics (India) with our current diversified asset portfolios in southern and western India, Tamil Nadu was the only state without our presence. This new flagship hospital will offer state-of-the-art quaternary care services to the people of Tamil Nadu and fulfil the current gap within our network.
 
“As a group we have ensured the creation of quality assets and we look forward to working with Aster DM Healthcare to create a built-to-suit multi-specialty hospital at Kovilambakam, where we are in possession of the land”, said Nagesh Balasubramanyam, director, SCDC.
 
Aster DM Healthcare is present in the Middle East, India and the Philippines with a large number of health facilities including 20 hospitals, 98 clinics and 206 pharmacies. It is one among the very few companies listed on the Indian stock market with over 80% of its operating units, revenues and profits coming from out-side the country.