FB Roundup: Aster DM Healthcare, Manchester United, Wegmans Food Markets

Moopen family’s Aster DM Healthcare partners with Roche Diagnostics in Middle East

Aster DM Healthcare, the second-generation Indian family business in Dubai, has entered a strategic partnership for the Middle East “to stay ahead of the curve” with the diagnostics wing of the Swiss fourth-generation healthcare multinational Roche.

Aster DM Healthcare, the largest integrated healthcare provider in the Middle East, signed a memorandum of understanding with Roche Diagnostics. The partnership would enable Aster DM Healthcare’s hospitals, clinics and laboratories across the region to adopt the latest diagnostic innovations to support doctors in treating their patients.

The memo included the provision of antibody Covid-19 testing and digitalisation, as well as automated laboratory solutions to deliver precise patient results in the shortest time possible, while boosting capabilities to meet the rising demand for diagnostics in the pandemic and beyond.

The partnership cemented Aster Hospitals and Roche’s efforts in the prevention, diagnosis, and treatment of conditions, including cardiovascular health, women’s health and infectious diseases.

Alisha Moopen (pictured), the next-generation deputy managing director at Aster DM Healthcare, said the family business was “determined to stay ahead of the curve” in offering the best medical solutions to its patients and equip its doctors with the most advanced systems to do so.

The partnership “is a part of our core strategy to introduce smart systems that encourages early and accurate detection that can facilitate timely medical intervention essential to prevent unwanted disease outcomes,” she said.

Moopen joined her family’s business as a director in 2013. She is responsible for overseeing the strategic direction and development of the $5 billion company, notably its expansion into new markets.

The University of Michigan finance and accounting graduate has won multiple awards for her leadership since 2018. She is the eldest of three daughters of Dr Azad Moopen (pictured), the founding chairman and managing director of Aster DM Healthcare.

Glazer family benefits from share sales in Manchester United

Members of the American Glazer family which owns Manchester United sold $186 million of shares in the English Premier League football club weeks after the $17.4 million return of star player Cristiano Ronaldo.

Edward Glazer, the club’s executive vice chairman and co-director, and Kevin Glazer (pictured left), co-director, sold 9.5 million Class A Ordinary Shares, or 8% of the family’s holding last week. The family retained 69% of shares and most of the voting rights in the club, in which it took a majority stake for just over $1 billion in 2005.

Brothers Edward and Kevin Glazer are club co-directors alongside Bryan and Darcie Glazer, with Avram and Joel Glazer (pictured right) as co-directors and executive co-chairman. The siblings split equally the 90% stake controversially acquired by their father, commercial real estate tycoon Malcolm Glazer, when he died in 2014 after a long illness.

Avram Glazer sold five million of his shares in United for more than $95 million in March 2021. The club has not received proceeds from either transaction.

The surprise transfer of Ronaldo from Italy’s Juventus, owned by the Agnelli dynasty, to Old Trafford triggered an 8% surge in share price on the New York Stock Exchange, where the club is listed. The boost reportedly added $749 million in value in 54 days to the club for the Glazers.

The family are understood to have planned for periodic share disposals since 2012. They are reputed to remain committed to the club for the long-term, despite their unpopularity among some fans. Avram and Joel Glazer were publicly contrite after the backlash over United’s co-founding participation in the breakaway European Super League in April 2021.

Old Trafford returned to full capacity at the start of the 2021/22 season in August. Manchester United Plc reported its total revenue for its fiscal year in September 2021 was $673 million with a net loss of $125.6 million due to Covid-19 restrictions and a UK tax charge.

Heiresses in top leadership of Wegmans Food Markets

Fourth-generation Nicole Wegman has joined her sister in taking the lead of their family’s US supermarket chain Wegmans Food Markets.

Wegman (pictured left), senior vice president of Wegmans Brand, was promoted to the newly created role of president of Wegmans Brand. She joined the $10.8 billion interstate food retailer in 1989 and has served as senior vice president since 2017.

Nicole Wegman will oversee the company’s store-brand programme opposite her sister Colleen Wegman (pictured below) as the company’s chief executive and president. Colleen Wegman succeeded their father Danny Wegman (pictured) as chief executive in 2017.

Danny Wegman, 70, remains the chairman. He said the family’s mission was to help people live healthier better lives through exceptional food.

“The innovation we’re able to bring to life through our trusted brand enables us to deliver on that mission. Nicole is leading this effort across our company to ensure we only bring the very best to our customers.”

The family business celebrated its centenary in 2016. Brothers John and Walter Wegman started as fresh produce pushcart peddlers in Rochester, New York. The brothers made national headlines in 1930 when they opened a 1,800 sq m store, huge by the standards of time, with innovations like vaporised water spray to keep produce crisp and a cafeteria that seated 300.

In 1950, Robert Wegman, Walter’s son, became president. The philanthropist raised all salaries and announced a range of employee benefits, including health care and a retirement plan. Today, Robert’s son Danny Wegman is chairman and Danny’s daughters, Colleen and Nicole, lead the company.

Wegmans Food Markets, Inc is a 106-store supermarket chain with stores in New York, Pennsylvania, New Jersey, Virginia, Maryland, Massachusetts and North Carolina. Its first store in Manhattan is due to open in 2023.

Wegmans has been named one of the ‘100 Best Companies to Work For’ by Fortune magazine for 23 consecutive years, ranked in fourth position in 2021.