Aster DM Healthcare has got formal approval for 100 percent ownership of its operations in the UAE. The clearance was provided by Dubai Government, as part of recent initiatives that allow businesses in certain sectors these rights. This will not result in any major cash outflow towards investment, according to the hospital operator.

The entire process will be completed before March 31, according to the company’s founder. “We submitted two sets of documentation to Dubai Department of Economic Development for Aster DM to be granted 100 percent in the UAE,” said Dr. Azad Moopen, founder and Chairman. “One was for the hospitals and clinics and the second set for the pharmacies that we operate. They required a second set of documentation because retail was not part of the sectors that allow 100 percent foreign ownership. “The approval, the final one we received on February 3, legally confirms full ownership of the business here. Even earlier, we had all the economic benefits of being a 100 percent owned company. Now, we make the full transition legally as well.”

© Pakistan Press International, source Asianet-Pakistan