The second health–care mogul in this year’s list, Azad Moopen has overseen DM Healthcare’s expansion from a few small clinics to an empire of hospitals, medical centres and pharmacies across not only most of the GCC countries, but India too. Across its network, DM Healthcare treats a whopping 8 million patients every year.
The Dubai-based firm, founded in 1987, is now one of the region’s largest private healthcare providers.
Under the corporate brand Aster, the group now employs more than 5,000 people and anticipated revenues of $500m for the 2012 financial year, about 30 percent to 40 percent growth compared to 2011. Moopen, who recently turned 60 years old, says that DM Healthcare is looking to expand aggressively not only in the immediate region, but possibly worldwide in the coming years.
Last year, Arabian Business was granted access to detailed statements from Dr Moopen’s company. His 57 percent stake in his company, which has an enterprise value of around $1.8bn, forms by far the biggest portion of his wealth.
He also has a 90 percent stake in an educational institute in India, as well as personal immovable assets of $50m.
Altogether, DM Healthcare has a chain of six hospitals in India, and is planning to add six more hospitals to the five it already runs in the Gulf over the next two years.
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