Aster DM Healthcare has acquired additional 1.87% stake in Malabar Institute of Medical Sciences (MIMS), a material subsidiary of the Company from several minority shareholders as on March 27, 2023. Consequent to the said acquisition, shareholding of the Company in MIMS has increased from 74.14% to 76.01%. MIMS is a material a subsidiary of Aster DM Healthcare and operates hospitals in Kerala.
Considering the current performance of MIMS and revenue and profitability trend, its value accretive for the Company to acquire the shares at valuation of Rs 100 per share from minority shareholders. Further this gives an opportunity to shareholders who are seeking for an exit from the subsidiary company. Cost of acquisition is Rs 18.64 crore.
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.
