Aster DM Healthcare FZC, a material subsidiary of Aster DM Healthcare Limited has acquired remaining 20% stake in Premium Healthcare Limited on July 12, 2023. Pursuant to the said acquisition Premium Healthcare Limited has become wholly owned subsidiary of Aster DM Healthcare FZC.
Premium Healthcare Limited reported a turnover of 17.01 crore INR for FY 2022-23 and their Profit After Tax for FY 2022-23 stood at 0.98 crore.
Aster DM Healthcare will acquire the equity stakes from Dr. Karim Fekih representing 20% of the total paid up share capital of Premium Healthcare Limited operated under the name “THE CLINIC” in DIFC. This is intended for 100% ownership and better management and operational control.
The deal will need approval from the Dubai International Financial Centre Authority and the Dubai Health Authority.
Post-acquisition, Aster’s stake in Premium Healthcare Limited will increase to 100%.