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

UAE’s healthcare company Burjeel Holdings has signed a memorandum of understanding (MoU) with Saudi Arabia’s Ministry of Investment.

In line 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.

Burjeel Holdings will explore investment opportunities through joint ventures and public-private-partnership (PPP) models to establish and expand various healthcare offerings across the kingdom, including a healthcare network that will include speciality medical centres, day surgery capability, digital health ventures, comprehensive super speciality hospitals and clinical research programmes.

Its research commitments include exploring innovation in areas of cancer prevention, screening and therapy. In addition to healthcare services delivery, Burjeel will also work through MISA in areas of humanitarian aid and international healthcare volunteering.

The group is in discussions with various private sector providers and public sector hospitals in Saudi Arabia to deliver these services and expects to begin formalising collaboration agreements over the coming months.

Burjeel Holdings’ founder and CEO Dr Shamsheer Vayalil said: “Saudi Arabia is a key focus market for Burjeel Holdings and we are proud to commit to this MoU with the Ministry of Investment – a significant step in our entry to the kingdom. We are excited about the many opportunities to support the kingdom’s healthcare ambitions and to bring our expertise to a sector which is integral to the delivery of Vision 2030.”

Burjeel Holdings reported FY 2021 revenue totalling Dhs3,351m, representing an 18 per cent compound annual growth rate over the three-year period from 2019-2021.

Read: Burjeel Holdings records revenue of Dhs3.35bn for FY2021

Burjeel Holdings is also aiming to go public this year. Burjeel’s owner VPS Healthcare is said to be courting potential investors including sovereign and pension funds to drum up support for the deal.

Also read: UAE healthcare provider Burjeel seeking to raise $750m from IPO