Aster DM Healthcare’s material subsidiary -- Malabar Institute of Medical Sciences (MIMS) has entered into an agreement to acquire 99.99% stake in Cantown Infra Developers on January 14, 2023. Cantown Infra Developers owns land next to the Boundary of Aster MIMS Kannur, the entity has no turnover in FY21-22 except for rent received from letting the land out for car parking facility to Aster MIMS Kannur.
Aster MIMS Kannur has reached its maximum possible capacity. Considering the huge potential and possibilities, it is proposed to expand the capacity of Aster MIMS Kannur for which additional land is required therefore it is proposed to acquire Cantown Infra Developers.
Aster DM Healthcare operates as a healthcare company in the Middle East, India, and the Far East. It operates hospitals and clinics, pharmacies, diagnostic centers, educational institutions, and healthcare management and healthcare support systems.