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Aster DM Healthcare and Faruk Medical City sign a contract to develop healthcare services in Iraq

Posted On : 2022-12-07 15:05:02( TIMEZONE : IST )

Aster DM Healthcare and Faruk Medical City sign a contract to develop healthcare services in Iraq

Aster DM Healthcare, one of the largest integrated healthcare service providers in the GCC and India, signed a Contract with Faruk Medical City, Iraq's leading healthcare service provider, to collaborate on capability development and academic and professional training programs for clinical staff and healthcare professionals in Iraq. Faruk Medical City is a part of Faruk Investment Group - one of the largest investment groups in Iraq.

Through this partnership, doctors from Aster DM Healthcare will visit Faruk Medical City's state-of-the-art facilities to consult and provide surgical services which are not locally available and for which patients have to travel overseas.

Aster DM Healthcare and Faruk Medical City will jointly provide training and academic support to medical and paramedical staff of Faruk Medical City hospital. The move aims to develop Faruk Medical City jointly as a hospital of excellence through providing advanced academic training and capability development, along with its benchmarked international standards in providing firstrated clinical and medical services in Iraq. Aster will also play an advisory role in guiding Faruk Medical City to apply for international accreditation.

Faruk Investment Group and Aster DM Healthcare have also signed a Memorandum of Understanding to explore potential collaboration opportunities to expand Aster Pharmacy's services to Iraq, including the distribution and retail of pharmaceutical and wellness products.

Commenting on the collaboration, Dr. Azad Moopen, Founder Chairman & Managing Director, Aster DM Healthcare, said, "We are pleased to partner with FMC Kurdistan to support the clinical operations and academic programs at FMC Hospitals, Sulaimaniya. With decades of experience in providing tertiary and quaternary patient care, Aster is well placed to provide comprehensive training to health care professionals in Iraq. Our expert doctors shall also visit FMC regularly to participate in patient care. This partnership reaffirms Aster's commitment to support patients and the medical fraternity across geographies."

Mr. Faruk Mustafa Rasool, Founder and Chairman of Faruk Investment Group and Faruk Medical City said, "We are delighted to announce this new partnership with Aster DM Healthcare, and we are looking forward to working together to upscale and develop our healthcare service all over Iraq. With Aster, we will build synergies on all medical and administrative levels to improve hospital operations and clinical services through the joining of the strengths of Faruk Investment Group's 45-year-long history in business leadership in Iraq, Faruk Medical City's strong presence and brand presence as a leader in healthcare services in Iraq, and Aster through their successful 36-years-long leadership in healthcare provision in the GCC and India. We are envisaging further developing the healthcare sector in Iraq through active contribution to medical education in the fields of Nursing, and Biomedical sciences".

Shares of Aster DM Healthcare Limited was last trading in BSE at Rs. 227.25 as compared to the previous close of Rs. 231.25. The total number of shares traded during the day was 8646 in over 573 trades.

The stock hit an intraday high of Rs. 232.60 and intraday low of 225.50. The net turnover during the day was Rs. 1988355.00.

Source : Equity Bulls


AsterDMHealthcare INE914M01019 FarukMedicalCity Iraq Collaboration HealthProfessionals