Aster DM Healthcare announced on 10 June that it had acquired a majority stake in ProCare Hospital in Saudi Arabia's Eastern Province, in a joint venture with Abdulrahman Saleh Al Rajhi and Partners Co Group.
Why Aster DM Healthcare (GCC) is buying ProCare Hospital
Aster said the deal reflects its commitment to Saudi Arabia's healthcare transformation under Vision 2030. It plans to add specialties and medical technology, strengthen cardiology, apply its clinical governance standards and roll out its myAster digital platform.
“The acquisition of ProCare Hospital reflects our confidence in the Kingdom's healthcare transformation journey.”
Deal terms and financing
Neither the price nor the exact size of Aster's stake was disclosed. The hospital has been renamed Aster ProCare Hospital and joins Aster's GCC network.
Market context
Founded in 2009, ProCare provides primary and secondary care. Aster has operated in Saudi Arabia since 2011 through Aster Sanad Hospital in Riyadh, and is planning a cardiac catheterisation laboratory at the new site with Philips.
