Aster DM Healthcare elevates Nitish Shetty as India CEO, promoter Moopen family increases stake by 4%

Private healthcare giant Aster DM Healthcare has appointed its regional director for Karnataka and Maharashtra Dr Nitish Shetty as the company’s chief executive for its India business, the firm said in a press statement on Tuesday.

“One of the key issues that I will be focusing on as the CEO is the implementation of innovative technologies and digital solutions to enhance patient care and experience,” Shetty said in an emailed statement to DH. He added that the company is also looking forward to launching the myAster app later this year which would give an omni channel experience care to its patients.

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Meanwhile promoters of the publicly-listed healthcare conglomerate have also bought additional shares in the company after it experienced a positive turnover last year. Aster DM Healthcare’s founder, chairman and managing director Dr Azad Moopen’s family office has raised its stake in the multinational firm by 4 per cent to 41.88 per cent from 37.88 per cent, according to another company statement. The latest stake acquisition was financed by an undisclosed “large private equity investor” through a Rs 460 crore investment.

“The increase of our stake in Aster DM Healthcare is a reiteration of our confidence in the business across geographies,” Moopen noted in the media release.

Aster reported a turnover of Rs 10,253 crore in FY 2021-22, and continues to perform “very well during this FY in turnover and profits,” he highlighted. Its upcoming projects include a number of mid-level hospitals across southern India, following a roll out of multiple pharmacies and testing labs.

Shetty, who will take charge in his new role on April 1, joined the company in 2014 and has since served in multiple roles. He listed regulatory compliance, financial growth stability and talent management as the top three challenges that face the organisation as he prepares for his upcoming responsibilities.