11-02-2025
Aster unveils $250 million expansion plan in Saudi Arabia
Aster DM Healthcare, a leading integrated healthcare provider in the GCC, plans to invest approximately $250 million in Saudi Arabia over the next two to three years, which includes hospitals, clinics, and pharmacies.
The company has maintained a presence in Saudi Arabia for the past decade, expanding its retail pharmacy format into the kingdom through a joint venture.
As part of this plan, Aster Pharmacy, the retail arm of Aster DM Healthcare, has commenced operations in the kingdom with 15 stores across Riyadh, including its flagship store at Trio Plaza. Trio is the largest store of Aster Pharmacy in the GCC, spanning 711 square meters, offering an expansive range of over 13,000 products.
Following the successful entry into the Saudi market in September 2023, Aster Pharmacy has rapidly expanded its footprint, establishing 15 stores in Riyadh alone. This growth is being facilitated in strategic partnership with the Al Hokair Holding Group, a prominent retail partner in the region. It is supported by myAster — the group's healthcare app which provides the complete digital solution combining all Aster services in the country. The app was launched in Saudi Arabia during LEAP 2025.
Dr. Azad Moopen, Founder and Chairman of Aster DM Healthcare said: 'As we embark on our expansion across hospitals, clinics, pharmacies, and digital health, we value the chance to contribute to Saudi Arabia's Vision 2030. I am confident that Aster's integrated healthcare model, which has played a key role in strengthening healthcare infrastructure in many countries, will help shape the future of healthcare in Saudi Arabia.'
Mishal Al Hokair, Deputy CEO of Abdul Mohsen Al Hokair Holding Group stated, 'The partnership brings a visionary approach to Saudi Arabia's healthcare landscape. Together, we are setting a new standard in community access to healthcare, offering an unmatched shopping experience and wellness support for families across the Kingdom. Trio is just the beginning of what we are building together.'
The launch event was attended by Mohammed bin Ali Al-Saheb, Undersecretary of the Ministry for Investment and Development, officials from the government, along with leaders from Aster DM Healthcare and Abdul Mohsen Al Hokair Group.
Alisha Moopen, Managing Director & Group CEO, Aster DM Healthcare GCC said: 'As the largest country in GCC and the second fastest growing economy in the world, it is impressive to witness the tremendous progress that Saudi Arabia has made within such a short period of time. As one of the first private healthcare providers to set up operations in the country, we at Aster DM Healthcare had the privilege of witnessing this growth journey very closely and we remain steadfast in our commitment to support the achievement of Vision 2030 by bringing the best of Aster's integrated healthcare model to the Kingdom. We are looking to expand across major cities in the country through the opening of new hospitals, launch of Aster Clinics and more Aster Pharmacy stores.'
Aster's expansion is expected to significantly boost job prospects in Saudi Arabia. 'This expansion is expected to create around 1,500 to 1,600 frontline jobs, with additional support roles. Post-COVID, the digital health market, including telehealth and virtual consultations, has seen significant growth. The myAster app delivers over 3,000 orders daily in the UAE, with 60 per cent being express deliveries within 60 minutes,' said N.S Balasubramanian, CEO at Aster Pharmacy.
Their digital presence, through the myAster app, launched at LEAP, aims to offer a comprehensive healthcare ecosystem including teleconsultations and home delivery of health products.
Aster views Saudi Arabia and the UAE as the biggest opportunities within the GCC. 'There is a huge potential due to the lower per capita pharmacy count in Saudi Arabia and government initiatives supporting private sector involvement in healthcare management,' Balasubramanian said.
