Aster DM to acquire UAE-based home healthcare firm

Aster DM Healthcare has signed a pact to acquire Abu Dhabi-based Wahat Al Aman Home Healthcare LLC for an estimated amount of Rs 204 crore.

The acquisition of the home healthcare services provider will enhance Aster DM’s presence in Abu Dhabi, as per the stock-exchange filing.

The deal value depends on the basis of Wahat Al Aman’s financial performance and may change going forward, it said.
The transaction is likely to conclude by January end, subject to approval.

Aster DM Healthcare is one of the largest private healthcare service providers in Asia. It has operations in India and the Gulf Cooperation Council (GCC) region. This is the company’s first acquisition since it floated its initial public offering (IPO) in 2018.

Private equity firms, True North and Olympus Capital, are its investors. True North had first backed the hospital firm in 2008 while Olympus Capital came on board in 2012.

Earlier in 2019, True North sold most of its stake in the hospital company. The PE firm held a 2.15 per cent stake in Aster DM at the end of September, showed the stock-exchange data. Olympus Capital owned around 23 per cent.