Abu Dhabi-based IHC acquires 15% stake in Burjeel Holdings

Abu Dhabi-based conglomerate International Holding Company (IHC) has acquired a 15 per cent stake in Burjeel Holdings. The acquisition will scale and diversify IHC’s investment in the healthcare sector locally and regionally.

Syed Basar Shueb, CEO IHC said: “We continue to see a tremendous opportunity to invest in mission-driven organisations like Burjeel Holdings. We are very pleased with Burjeel’s progress in expanding its market positions beyond the UAE. Undoubtedly, this new acquisition will add great value to our strong growth platform.”

Founded in 2007, Burjeel Holdings is among the leading private healthcare services provider in the UAE, with a growing presence in the GCC.

Dr Shamsheer Vayalil, CEO, Burjeel Holdings said: “We are thrilled to join a solid organisation with such a broad and complementary set of capabilities. Having IHC onboard has a solid strategic rationale for us, as it  will have a transformative impact through the addition of new capabilities, capita, and access to new markets. This is an exciting time of growth for Burjeel Holdings.”

Burjeel Holdings will operate nearly 60 assets catering to all socio-economic segments across a range of brands, including Burjeel Hospitals, Medeor Hospital, LLH Hospital, Lifecare Hospital and Tajmeel.

Its flagship facility, Burjeel Medical City, is the largest private hospital in the UAE and the only ESMO-accredited center. In addition, Burjeel Holdings consolidates the largest diagnostic network in the UAE and the largest comprehensive cancer center in the nation. The recently launched holding company also brings under its umbrella the largest orthopedic practice and leading mother and child care provider in the UAE.

In other developments, Burjeel Holdings signed a memorandum of understanding (MoU) with Saudi Arabia’s Ministry of Investment. In with the agreement, the private healthcare group will partner and collaborate with institutes and healthcare organisations, and invest up to $1bn in the kingdom by 2030.

Read: UAE’s Burjeel Holdings to expand into Saudi Arabia with $1bn investment