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Aster DM Healthcare, one of the largest integrated healthcare providers, is expanding its presence in Saudi Arabia with a goal of opening 250 pharmacies within five years.
Through the joint venture agreement with Al Hokair Holding Group, both parties will focus on serving the healthcare needs of KSA’s local residents with Aster Pharmacy’s in-house premium care products.
The partnership plans to open and operate across the kingdom’s high streets, neighborhoods and shopping centers, starting with Riyadh, the capital and largest city. As Phase 2, Aster aims to build a pharmaceutical plant within Saudi territory in support of Saudi Vision 2030.
446 pharmacies in India, GCC and Jordan
Aster DM Healthcare currently operates 446 pharmacies in India, the GCC and Jordan, including 201 pharmacies in India operated by Alfaone Retail Pharmacies Private Limited under a brand licensing agreement. Originating in the UAE, Aster Pharmacy has become a household name and the brand of choice for pharmacies due to its easy access and customer-first approach. In the last fiscal year, Aster Pharmacy recorded 8 million visits to its division.
Dr Azad Moopen, Founder Chairman and Managing Director of Aster DM Healthcare said: “Aster DM Healthcare entered Saudi Arabia in 2016 through Aster Sanad Hospital in Riyadh. As the largest, most populous and rapidly developing country in the GCC, we have decided to expand our presence in the kingdom.
“The plan is to expand our primary care business with the introduction of Aster Pharmacy to serve a large and growing market and we are delighted to be partnering with the prestigious Al Hokair Holding Group to set up 250 retail pharmacies in the first phase.”
Group strategy
Mishal AlHokair, Deputy Chief Executive Officer of Al Hokair Holding Group, said of the joint venture: “This agreement is part of the Group’s strategy and represents a new step for our portfolio in Al Hokair Holding over the next few years. A quality complement to the Vision 2030 and Quality of Life plan, with a primary focus on healthcare and human well-being.”
Alisha Moopen, Deputy Managing Director of Aster DM Healthcare, said: “At Aster, we always strive to bring our quality care to the doorstep of the communities we serve, ensuring our clients have easy access to the highest standard of healthcare. . Aster Pharmacy Entering Saudi Arabia in partnership with Al Hokair Holding Group reaffirms our commitment to the people of Saudi Arabia to bring our health and wellness experience closer to their home.”- arab trade news agency
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