Dubai-based Aster DM Healthcare is launching its Aster Pharmacy wellness brand in Saudi Arabia with Al Hokair Holding Group.
Aster seeks to open more than 250 pharmacies in the kingdom within the next five years, starting with Riyadh.
Founder and managing director of Aster DM Healthcare, Dr Azad Moopen, said: “Aster DM Healthcare entered Saudi Arabia through Aster Sanad Hospital in Riyadh in 2016. Being the largest, most populated, and fast-growing country in GCC, we have decided to expand our presence in the kingdom.
“The plan is to expand our primary care footprint through the introduction of Aster Pharmacy to serve the large growing market and we are glad to partner with the prestigious Al Hokair Holding Group in this venture to set up 250 retail pharmacies in the first phase.”
This joint venture plays a key role in Aster Pharmacy’s foray into other key GCC countries, such as Oman, Qatar and Bahrain.
As part of the second stage of its robust local expansion, the company intends to set up pharmaceutical manufacturing in the kingdom to bolster the Saudi Vision 2030.
Mishal AlHokair, deputy CEO of Al Hokair Holding Group, said “We are pleased to have this collaboration with Aster DM Healthcare, which is one of the largest private healthcare service providers operating in the GCC and in India.
“This agreement comes within the group strategy that represents a new and additional step for our investment portfolio in Al Hokair Holding for the coming years and a qualitative addition in line with the kingdom’s vision 2030 and quality of life programme that is mainly focused on healthcare and wellbeing of humanity.”
In 2016, Aster DM Healthcare unveiled the GCC’s first online pharmacy.
Today, the company operates pharmacies across all GCC countries.
