Aster, Al Hokair Holding Group to set up over 250 pharmacies in Saudi Arabia

Aster DM Healthcare is expanding its footprint in Saudi Arabia with the Aster Pharmacy division announcing its latest tie-up with Al Hokair Holding Group.

The division, through this partnership, aims to set up and operate more than 250 stores over a period of five years and provide pharmaceutical and wellness products across segments such as nutrition, baby care, skincare and home healthcare to the communities in Saud Arabia.

The joint venture plans to open and operate pharmacies in high streets, communities and shopping malls, beginning with Riyadh.

As part of phase 2, the company will aim to set up pharmaceutical manufacturing within the kingdom to support the Saudi Vision 2030.

Dr Azad Moopen, founder chairman and managing director of Aster DM Healthcare 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.”

Through this joint venture agreement with Al Hokair Holding Group, Aster Pharmacy aims to expand its horizons beyond UAE, India, Oman, Qatar, Bahrain and Jordan into other territories to provide pharmaceutical and non-pharmaceutical products.

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 recent news, Aster DM Healthcare has announced its entry into the Bangladesh market with the Aster Pharmacy division. In partnership with GD Assist, it plans to open and operate a minimum of 25 stores located in high streets, communities and shopping malls in Bangladesh over a period of three years.

Read: Aster Pharmacy, GD Assist to set up pharmacies in Bangladesh