Union (Mauritius) Holdings, owned and promoted by Moopen and his family, acquired 46.09 lakh shares, representing about 0.57% of Aster DM Quality Care’s paid-up equity capital, the company said in a regulatory filing on Friday, September 4.
The shares were acquired on September 2 at ₹760 apiece, taking the total transaction value to ₹350.34 crore.
The purchase increases the Moopen family’s economic interest in the hospital group barely two months after the merger of Aster DM Healthcare and Quality Care India took effect.
The shares were acquired from Centella Mauritius Holdings, a TPG-backed investor that held a stake in Quality Care India before the merger.
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Four hospital brands under one roof
Aster DM Quality Care was created through the merger of Aster DM Healthcare and Quality Care India, bringing Aster DM, CARE Hospitals, Evercare and KIMSHEALTH under a single company.
The combined group operates 39 hospitals across 28 cities with more than 10,890 beds, according to the filing.
Its network spans South and Central India and offers services ranging from primary care to complex treatments in oncology, cardiac sciences, neurosciences, organ transplantation, nephrology and critical care.
Aster DM Quality Care was formerly known as Aster DM Healthcare.
The company described the Moopen family’s latest purchase as reflecting its confidence in the combined healthcare platform. It didn’t provide details on whether the family intends to increase its stake further.
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Merger costs weighed on June-quarter profit
Aster DM Healthcare’s June-quarter profit was hit by costs related to the Quality Care merger.
Consolidated net profit fell 81.2% from a year earlier to ₹16.1 crore, even as revenue increased 21.6% to ₹1,311 crore.
Operating performance was stronger. EBITDA rose 27.5% to ₹264.3 crore, while the margin improved to 20.2% from 19.2%.
The company booked ₹114.38 crore of exceptional expenses during the quarter, largely comprising professional fees and other costs related to the merger.
Shares of Aster DM Quality Care were little changed at ₹786.90 on Friday.
