Dubai: The global healthcare service provider Aster DM Healthcare announced that the UAE government has allowed 100% legal ownership of its business in Dubai. It’s Chairman and Managing Editor Dr Azad Moopen is now master of Aster in UAE. Dr Moopen, a Keralite started with a single clinic in Dubai and now is owner of number one healthcare behemoth in UAE..
Earlier, as per UAE law requirements, nationals of the UAE were required to be the legal/registered owners of the UAE companies and the foreign investors were allowed to hold up to 49%. With the recent development, the Government of UAE granted approval of 100% ownership to foreign companies in approved sectors. Subsequently, the Government of UAE released the list of sectors which could hold 100% foreign ownership, in which Healthcare sector was also included. The completion of transfer of 100% legal ownership of the subsidiaries in the Emirates of Dubai is expected to conclude by the end of current financial year.
Sharing his views on the development, Founder Chairman and Managing Director of Aster DM Healthcare, Dr. Azad Moopen said, “Dubai is a significant market for us as it contributes almost 80% to our GCC business. I thank and appreciate the Visionary Rulers of UAE for this forward-looking change in law which will give impetus for more investments into the country.”
Aster DM Healthcare Limited is one of the largest private healthcare service providers operating in multiple GCC states and is an emerging healthcare player in India. With an inherent emphasis on clinical excellence, Aster is one of the few entities in the world with a strong presence across primary, secondary, tertiary and quaternary healthcare through our hospitals, and clinics. It has over 20,000 plus dedicated employees across the geographies that present in, delivering a simple yet strong promise to our different stakeholders: “We’ll treat you well.”It reaches out to all economic segments in the GCC states through its differentiated healthcare services across the “Aster”, “Medcare” and “Access” brands.