Mubasher: Aster DM Healthcare has revealed plans to expand in Saudi Arabia’s pharmaceuticals sector during the coming period.
Aster will raise its investments in the kingdom after authorities allowed foreigners to own medical clinics, according to Gulf News.
“It took us five years to start a hospital [in Saudi],” Aster DM Healthcare chairman and managing director Azad Moopen said.
About 8% of the company’s income and profits are generated through business in the GCC, while 20% are from India, Aster DM Healthcare’s top official revealed.
Aster’s current model is based on establishing clinics and pharmacies close to each other. US firms are currently adopting a similar model, the newspaper added.
In February, the privately held Indian conglomerate raised $153 million in its India IPO. It said, then, it would use the money to pay debts and finance business expansion.
