Aster DM Healthcare Partners With Emirates Development Bank For AED 265 Million Financing To Expand Healthcare In Dubai

Aster DM Healthcare, healthcare provider in the UAE and GCC, has announced a strategic partnership with Emirates Development Bank (EDB). This collaboration secures AED265 million in financing, with potential for further expansion.

The funds will be used to develop two multi-specialty hospitals in Dubai, addressing the increasing demand for quality healthcare services among the UAE's growing population.

The agreement was formalised by Dr. Azad Moopen, Founder Chairman of Aster DM Healthcare, and Ahmed Mohamed Al Naqbi, CEO of Emirates Development Bank. Alisha Moopen and Iqbal Khan were also present alongside senior officials from both organisations during the signing ceremony.

Currently, Aster DM Healthcare operates 10 hospitals in the UAE under the Aster and Medcare brands. These facilities offer around 920 beds. Additionally, they manage 113 clinics and 298 pharmacies.

Their workforce includes 2,036 doctors and 4,063 nurses and healthcare professionals who serve millions annually. The new hospitals will add over 250 beds and provide treatment for more than 560,000 patients each year.

Once operational, these hospitals will employ over 675 doctors, nurses, and allied health professionals. This expansion significantly enhances local healthcare capacity and workforce capabilities.

Emirates Development Bank plays a crucial role in driving economic growth and industrial advancement in the UAE. It focuses on five priority sectors: manufacturing, advanced technology, food security, healthcare, and renewable energy.

By offering patient capital and innovative financing solutions, EDB supports national diversification efforts and strengthens private sector growth.

The bank's impact is evident through stronger local industries, job creation, increased GDP contribution, and enhanced economic self-reliance.

Aster's growth in the GCC is driven by operational excellence and strategic investments across hospitals, clinics, and pharmacies. The demand for quality care continues to rise across the UAE and wider region. In 2024, a consortium led by Fajr Capital acquired a 65% stake in Aster's GCC business while the Moopen family remains at its helm.

Alisha Moopen stated that Aster's growth strategy aligns with Dubai Economic Agenda D33. This agenda aims to position Dubai as a global leader in healthcare. "The partnership with Emirates Development Bank represents a significant milestone," she said.

Ahmed Mohamed Al Naqbi remarked on healthcare's importance to the UAE's future: "By empowering leading partners like Aster DM Healthcare to grow, we help unlock broader economic value for the nation."

Iqbal Khan added that their partnership with Aster aims to build a regional healthcare champion rooted in the GCC. He expressed gratitude towards EDB for their support as they look forward to supporting Aster's next phase of expansion.

This collaboration marks an important step in advancing Aster's UAE expansion strategy. The financing will aid Aster’s vision of bringing world-class healthcare closer to communities while contributing to national goals of strengthening access to care.