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- Aster DM Healthcare
Aster DM Healthcare Valuation, Funding & Investors
Aster DM Healthcare is valued at $770M as of May 2014.
Last Aster DM Healthcare valuation
$770M
Undisclosed stage · May 2014
Last Aster DM Healthcare funding round
$46M
Undisclosed stage · Feb 2018
Cumulative funding Aster DM Healthcare raised
$106M
across 2 funding rounds
Key investors in Aster DM Healthcare
True North
Olympius Capital
About Aster DM Healthcare
Aster DM Healthcare is a Dubai-headquartered integrated healthcare network operating 28 hospitals and 140 clinics across the GCC and India. The company encompasses Aster Hospitals, Aster Clinics, Aster Pharmacies, and Aster Diagnostic Centres at 295 locations. Founded in 1987 as a clinic chain, it now serves 12 million patients annually with specialties in cardiology, oncology, and neurology, employing 25,000 staff members.
Founded
1987
HQ
Website
Status
Privately held
Customer focus
B2C
Revenue model
Services
Valuation
$770M (May 2014)
Sectors
Aster DM Healthcare Valuation
Aster DM Healthcare is currently valued at $770M, based on its undisclosed-stage round in May 2014.
The $60M round was led by Olympius Capital, with participation from True North.
Aster DM Healthcare valuation by funding round
| Date | Stage | Valuation |
|---|---|---|
| May 2014 | Undisclosed stage | $770M |
Aster DM Healthcare Funding History
Aster DM Healthcare has raised a total of $106M across 2 funding rounds.
Aster DM Healthcare's first fundraising round was a $60M undisclosed-stage round in May 2014. The most recent completed round was a $46M undisclosed-stage round in February 2018.
Aster DM Healthcare funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Feb 2018 | Undisclosed stage | - | $46M | - | Aster DM Healthcare is a comprehensive healthcare service provider operating a network of hospitals, clinics, and retail pharmacies across the Gulf Cooperation Council (GCC) countries and India. The company delivers primary through quaternary medical care across multiple specialties with a diversified geographic and service-line portfolio. For the financial year ended March 31, 2018, Aster DM Healthcare reported consolidated revenue (excluding finance and investment income) of INR 6,760 crore and EBITDA of INR 651 crore. The company operated 19 hospitals, 101 clinics, and 207 pharmacies across 9 countries, employing 17,335 people as of March 31, 2018, with bed capacity increased from 4,651 to 4,762 during the fiscal year. Aster DM Healthcare completed its initial public offering in April 2018, which was the company's primary capital raise event in that period. No separate venture capital funding round with disclosed valuation could be identified for November 2018; the company's capital structure at that time reflected its post-IPO status. |
| May 2014 | Undisclosed stage | Olympius Capital (lead); True North | $60M | $770M | Aster DM Healthcare is a major healthcare services provider operating hospital networks across the Gulf Cooperation Council region and India. The company was founded by entrepreneur Azad Moopen in 1987 and manages the Aster and Medcare brands of hospitals, clinics, and pharmacies in the UAE, Qatar, Oman, Saudi Arabia, Jordan, and Philippines, with expanding operations in India across Kerala, Maharashtra, and other regions. In 2014, the company operated Aster Medcity in Kochi (a 1,000-bed quaternary care complex with first phase of 540 beds operational), Malabar Institute of Medical Sciences in Kerala (around 800 beds), and other tertiary and secondary care facilities. In June 2014, private equity firms Olympus Capital Asia Investments and India Value Fund Advisors (IVFA) co-invested $60 million for a minority stake in Aster DM Healthcare, valuing the company at Rs 7,200 crore. This round represented one of the largest private equity investments in an Indian healthcare business at that time. The investment increased the combined stake of IVFA and Olympus Capital from 37% to 42% in the company. Aster DM Healthcare was generating revenue exceeding Rs 3,000 crore in FY14 with an EBITDA margin of 18%, and projected revenue growth to Rs 4,000 crore in FY15, with the majority of revenue coming from Middle East operations. The company planned to establish three greenfield hospitals in South India and subsequently went public through an IPO in 2017. |
Who has invested in Aster DM Healthcare?
2 investors have backed Aster DM Healthcare across its funding rounds, including True North and Olympius Capital.
Lead investors include Olympius Capital.
Aster DM Healthcare Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
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Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
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Start Free TrialAcquisitions by Aster DM Healthcare
Aster DM Healthcare has acquired 4 companies to date.
Last acquisition by Aster DM Healthcare was on November 29th 2024. Aster DM Healthcare acquired Quality Care India for $5B.
Latest Acquisitions by Aster DM Healthcare
| Description | Quality Care India is a Mumbai-based home healthcare provider delivering nursing, physiotherapy, diagnostics, and doctor consultations across more than 40 cities in India. Established in 2005, the company serves patients through its network of over 3,000 trained professionals, focusing on chronic care management, post-surgical support, and elderly care services. Quality Care India partners with hospitals and clinics to offer integrated medical solutions, including pathology testing and ambulance services, ensuring accessible healthcare in urban and semi-urban areas. | Ramesh Hospitals is a Coimbatore-based multispecialty healthcare network with 1,200 beds across three Tamil Nadu facilities. The group delivers cardiology, cardiac surgery, neurology, oncology, orthopedics, and maternity services using advanced cath labs and robotic systems. Established in 1985, it treats 500,000 patients yearly with NABH accreditation and partnerships for organ transplants. | Wahat Al Aman Home Healthcare is an Abu Dhabi-based provider of person-centered home care services. The company delivers nursing, therapy, and daily living assistance to patients in the UAE through wahatalaman.ae. | Aster Aadhar Hospital is a multispecialty hospital in Kolhapur, India, part of the Aster DM Healthcare network with 200 beds and advanced facilities for cardiology, oncology, and neurology. It provides 24/7 emergency services, ICU care, and diagnostic imaging including MRI and CT scanners. The hospital serves Maharashtra region patients through NABH-accredited operations and partnerships with Aster's Gulf facilities. |
| HQ Country | ||||
| HQ City | India, TX | Vijayawada | Abu Dhabi | Kolhapur |
| Deal Date | 29 Nov 2024 | 28 Feb 2023 | 31 Dec 2019 | 25 Jul 2018 |
| Valuation | $5B | $40M | $29M | undisclosed |
| EV/Revenue | ||||
| EV/EBITDA | ||||
This data is available for Pro users. Sign up to see all Aster DM Healthcare acquisitions and their M&A valuation multiples. Start Free Trial | ||||
Aster DM Healthcare Competitors
Aster DM Healthcare competitors include listed companies like WELL Health, Saudi German Health, Gushengtang Holdings and Diagnósticos da América, and private ones like Radiant Life Care Private Ltd and Bang Er Orthopedic.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Publicly listed | $1B | $110M | $779M | 1.3x | ||
| Publicly listed | $827M | $204M | $732M | 1.6x | ||
| Publicly listed | $484M | $93M | $730M | - | ||
| Private | $64M | $11M | $816M | 12.8x | ||
| Private | - | - | $700M | - | ||
| Publicly listed | $2.2B | $346M | $688M | 1.0x |
Aster DM Healthcare Public Comps
Aster DM Healthcare is still privately-owned, but its public comps include WELL Health, Saudi German Health, Gushengtang Holdings, Diagnósticos da América, Global Medical Response, Al-Maidan Dental Clinic, Infracore, Integral Diagnostics, Hermina Hospitals and Al Hammadi Holding.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $1B | $110M | 1.4x | 1.3x | 12.7x | 10.1x | |||
| $827M | $204M | 1.7x | 1.6x | 6.8x | 8.3x | |||
| $484M | $93M | 1.6x | - | 8.3x | - | |||
| $2.2B | $346M | 0.9x | 1.0x | 5.6x | 4.9x | |||
| $5.7B | $1.1B | 0.9x | 0.9x | 4.7x | - | |||
| $205M | $37M | 2.4x | - | 13.0x | - | |||
| $29K | - | 33943.9x | - | - | - | |||
| $561M | $99M | 1.8x | 1.8x | 10.2x | 8.4x | |||
This data is available for Pro users. Sign up to see all Aster DM Healthcare competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Aster DM Healthcare
| When was Aster DM Healthcare founded? | Aster DM Healthcare was founded in 1987. |
| Where is Aster DM Healthcare headquartered? | Aster DM Healthcare is headquartered in Dubai, UAE. |
| Is Aster DM Healthcare publicly listed? | No, Aster DM Healthcare is a private, VC-backed company. |
| What is Aster DM Healthcare's valuation? | Aster DM Healthcare was last valued at $770M in its undisclosed-stage round in May 2014. |
| How much funding has Aster DM Healthcare raised? | Aster DM Healthcare has raised $106M across 2 funding rounds. |
| What was Aster DM Healthcare's last funding round? | Aster DM Healthcare's last funding round was a $46M undisclosed-stage round in February 2018. |
| Who are Aster DM Healthcare's investors? | Aster DM Healthcare's investors include True North and Olympius Capital. |
| Which companies are comparable to Aster DM Healthcare? | Companies comparable to Aster DM Healthcare include WELL Health, Saudi German Health, Gushengtang Holdings, Radiant Life Care Private Ltd, Bang Er Orthopedic and Diagnósticos da América. |
| How many companies has Aster DM Healthcare acquired? | Aster DM Healthcare has acquired 4 companies, including Quality Care India, Ramesh Hospitals, Wahat Al Aman Home Healthcare and Aster Aadhar Hospital. |
| What was the largest acquisition by Aster DM Healthcare? | The $5B acquisition of Quality Care India in November 2024 is the largest acquisition Aster DM Healthcare has made to date. |
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