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Business Wire India
Aster DM Healthcare, one of the largest private healthcare service providers in GCC and in India, today announced its financial results for the quarter ended September 30, 2021.
Commenting on the performance for Q2 FY22, Dr. Azad Moopen, Founder Chairman and Managing Director, Aster DM Healthcare, said:
“The last quarter has been one of the better quarters for Aster as the COVID cases were on the lower side in geographies we operate. The recovery rates improved significantly while the death rates have declined. As vaccination rollout picked up pace across our main markets which are UAE and India, we have seen economies on a recovery path with life slowly returning to normal. This is reflected in Aster’s better performance through significant improvement in both out-patient and in-patient numbers at our hospitals and higher footfalls across our pharmacies and clinics.
As mentioned at the end of our last quarter, the focus going forward as a strategy is to expand capacity in India. In line with that focus, I am happy to report that we have launched a dedicated ‘Women and Children” wing at our Aster MIMS hospital in Kottakkal, Kerala. This adds 77 beds which consists of 28 Neonatal Intensive Care Unit (NICU) beds and 6 Pediatric Intensive Care Unit (PICU) beds, to the existing 244 bed capacity at Kottakkal. This launch is a part of our strategy to provide specialized care for women and children in boutique facilities attached to our main hospitals. As part of Aster Aadhar Hospital’s expansion at Kolhapur, we have operationalized 24 additional beds in October 2021 and the remaining 36 beds will be operationalized in the next few months. In Kerala, we are planning to expand capacity at our other hospitals - Aster Medcity, Aster MIMS Kozhikode and Aster MIMS Kannur.
Our diagnostics vertical, Aster Labs has established its footprint in the states of Karnataka and Kerala by setting up 1 reference lab, 6 satellite labs, and 31 patient experience centers as on 30th September 2021. The plan is to establish 21 satellite labs and 200 patient experience centers by the end of the current financial year in 5 states. We are also in the process of establishing a central lab for GCC in Dubai. Aster has entered into an agreement with Alfaone Retail Pharmacies Private Limited (ARPPL) to license the ‘Aster Pharmacy’ brand to run the retail stores and online pharmacy operations. ARPPL has launched 55 Aster pharmacies in Karnataka & Kerala and expected to reach around 130 pharmacies by the end of the financial year.”
Commenting on Aster Digital Health vertical, Ms. Alisha Moopen, Deputy Managing Director, Aster DM Healthcare, said:
“Moving ahead on our Digital Journey, we have launched the first version of 1 Aster, our patient assistance App in UAE. This shall allow patients to book appointments, seek Virtual consults, access medical records etc. and help us to provide a more wholesome experience to our patients. We launched this on both Android and iOS formats and have been seeing good acceptance from both our patient base and doctors. We are actively working towards a larger patient engagement framework through a digital customer relationship management (DCRM) module launched across our clinics, hospitals and pharmacies which shall allow a seamless experience for the patients across all modes of engagement, i.e., in person or through our app/portal. We are also actively working towards launching our e-pharmacy by Quarter 4 that will further bolster our offerings in patient care. Soon after UAE, we expect these offerings to be mirrored in India in early part of next year. Supported by our Consultants Bain, and with significant financial and Human Resources being deployed, we will soon be one among the most digitally transformed healthcare providers in GCC and India.”
Business Wire India
Aster DM Healthcare, one of the largest private healthcare service providers in GCC and in India, today announced its financial results for the quarter ended September 30, 2021.
KEY HIGHLIGHTS OF THE QUARTER
- Operational Revenue increased by 12% Y-o-Y to Rs. 2,504 Crs. compared to Rs. 2,243 Crs.
- EBITDA (including other income) increased by 26% Y-o-Y to Rs. 352 Crs. compared to Rs. 279 Crs.
- PAT (Pre- Non-Controlling Interest) increased by 202% to Rs. 128 Crs. compared to Rs. 42 Crs. in FY 21 Q2
- PAT (Post Non-Controlling Interest) increased by 225% to Rs. 107 Crs. compared to Rs. 33 Crs. in same period, previous financial year
Commenting on the performance for Q2 FY22, Dr. Azad Moopen, Founder Chairman and Managing Director, Aster DM Healthcare, said:
“The last quarter has been one of the better quarters for Aster as the COVID cases were on the lower side in geographies we operate. The recovery rates improved significantly while the death rates have declined. As vaccination rollout picked up pace across our main markets which are UAE and India, we have seen economies on a recovery path with life slowly returning to normal. This is reflected in Aster’s better performance through significant improvement in both out-patient and in-patient numbers at our hospitals and higher footfalls across our pharmacies and clinics.
As mentioned at the end of our last quarter, the focus going forward as a strategy is to expand capacity in India. In line with that focus, I am happy to report that we have launched a dedicated ‘Women and Children” wing at our Aster MIMS hospital in Kottakkal, Kerala. This adds 77 beds which consists of 28 Neonatal Intensive Care Unit (NICU) beds and 6 Pediatric Intensive Care Unit (PICU) beds, to the existing 244 bed capacity at Kottakkal. This launch is a part of our strategy to provide specialized care for women and children in boutique facilities attached to our main hospitals. As part of Aster Aadhar Hospital’s expansion at Kolhapur, we have operationalized 24 additional beds in October 2021 and the remaining 36 beds will be operationalized in the next few months. In Kerala, we are planning to expand capacity at our other hospitals - Aster Medcity, Aster MIMS Kozhikode and Aster MIMS Kannur.
Our diagnostics vertical, Aster Labs has established its footprint in the states of Karnataka and Kerala by setting up 1 reference lab, 6 satellite labs, and 31 patient experience centers as on 30th September 2021. The plan is to establish 21 satellite labs and 200 patient experience centers by the end of the current financial year in 5 states. We are also in the process of establishing a central lab for GCC in Dubai. Aster has entered into an agreement with Alfaone Retail Pharmacies Private Limited (ARPPL) to license the ‘Aster Pharmacy’ brand to run the retail stores and online pharmacy operations. ARPPL has launched 55 Aster pharmacies in Karnataka & Kerala and expected to reach around 130 pharmacies by the end of the financial year.”
Commenting on Aster Digital Health vertical, Ms. Alisha Moopen, Deputy Managing Director, Aster DM Healthcare, said:
“Moving ahead on our Digital Journey, we have launched the first version of 1 Aster, our patient assistance App in UAE. This shall allow patients to book appointments, seek Virtual consults, access medical records etc. and help us to provide a more wholesome experience to our patients. We launched this on both Android and iOS formats and have been seeing good acceptance from both our patient base and doctors. We are actively working towards a larger patient engagement framework through a digital customer relationship management (DCRM) module launched across our clinics, hospitals and pharmacies which shall allow a seamless experience for the patients across all modes of engagement, i.e., in person or through our app/portal. We are also actively working towards launching our e-pharmacy by Quarter 4 that will further bolster our offerings in patient care. Soon after UAE, we expect these offerings to be mirrored in India in early part of next year. Supported by our Consultants Bain, and with significant financial and Human Resources being deployed, we will soon be one among the most digitally transformed healthcare providers in GCC and India.”
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