Aster DM Healthcare buys Saudi’s Sanad hospital for INR 1.6k crore

MUMBAI: In one of the largest healthcare deals in West Asia, Dubai-based Indian billionaire Dr Azad Moopen has acquired majority stake in Sanad hospital in Riyadh, Saudi Arabia, for INR 1,600 crore. Aster DM Healthcare, Moopen’s company, bought the additional 57% from a Saudi partner to up total stake to 97%. In December 2011, the company had acquired 40% in the hospital.

The deal closed after the necessary clearances from Saudi Arabian General Investment Authority (SAGIA), the body that takes foreign investment related decisions in the kingdom, came through in September.

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