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Aster DM Healthcare on Sunday said it will invest Rs 500 crore to set up healthcare facilities in Tamil Nadu. Aster, which is one of the largest integrated healthcare providers in GCC and India, has signed a memorandum of understanding on March 26 with the Tamil Nadu government in this regard.

The MoU proposes an investment of Rs 500 crore in hospitals, pharmacies and laboratories in Tamil Nadu, Aster DM Healthcare said in a statement.

This will help provide quality healthcare at an affordable cost to the people of Tamil Nadu and generate employment for more than 3,500 people, it added.

Tamil Nadu Chief Minister MK Stalin has encouraged the initiative and ensured support to the healthcare group.

Currently, Aster has 14 hospitals, 9 clinics and 66 labs and patient experience centres in India, with an investment of about Rs 3,000 crore.

With five hospitals already in Kerala, including Aster Medcity - the flagship hospital of the group, the investment in Tamil Nadu will further solidify Aster's presence in South India.

Apart from Kerala, Aster has healthcare facilities spread across Karnataka, Maharashtra, Andhra Pradesh and Telangana.