The firm stated that 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.

The company acquired 23,58,637 equity shares at Rs 100 per equity share. Prior to additional acquisition the company held a 76.01% stake in MIMS. Consequent to the said acquisition, shareholding of the company in MIMS has increased from 76.01% to 78.37%.

Meanwhile, the company has launch Medcare Royal Hospital in Al Qusais. Constructed by Dubai Developments, the 126-bed medical facility spread across 334,736 square feet, will be the fourth Medcare Hospital in Dubai and the fifth in UAE on the overall, alongside 20 Medcare Medical Centres. The hospital will be operational by December 2023.

Aster DM Healthcare operates in various segments of the healthcare industry, which include hospitals, clinics and retail pharmacies, and provides healthcare services to patients across economic segments in various gulf corporation council (GCC) states through its various brands, such as Aster, Medcare and Access.

The company's consolidated net profit declined 24.5% to Rs 170.77 crore in Q4 FY23 from Rs 226.27 crore posted in Q4 FY22. Revenue from operations jumped 19.6% year on year to Rs 3,262.32 crore in the quarter ended 31 March 2023.