Burjeel Holdings CEO Shamsheer Vayalil
UAE-based Burjeel Holdings is mapping out the latest plans to launch projects and initiatives for investment in Saudi Arabia, CEO Shamsheer Vayalil told Argaam.
He added that despite the challenges of coronavirus and the current global economic climate, the group continues to achieve strong growth in its business.
The group recorded revenues of AED 3.351 billion in 2021, which represents a compound annual growth rate (CAGR) of 18% from 2019-2021.
Vayalil added that Burjeel targeted the Kingdom's healthcare market for several years, hence recent entry is a target and a logical step for the company, noting that Vision 2030 allows the firm to contribute to making the Kingdom and the region as a global destination for medical tourism and home to the world’s best specialized hospitals.
Further, the CEO said demand for high-quality complex care will continue to increase, whether from patients directly or with government assistance in line with Vision 2030, with a strong focus on ensuring positive health outcomes for citizens and residents in the Kingdom.
Burjeel has direct operations through diagnosis and treatment, and aspires to provide wide-scale healthcare services across the Kingdom, Vayalil said, adding that there is a demand for oncology and diagnostics in the near term to bring the firm’s high-quality expertise to the Kingdom, as well as to enhance services in sports medicine and rehabilitation.
Both the group and the Kingdom are committed to improving health outcomes in the region, and the memorandum of understanding (MoU) with the Ministry of Investment will see the group investing in partnerships with public healthcare providers, in addition to leading specialized hospitals, medical centers, pre-hospital care services, as well as digital health and pharmaceutical facilities.
He added that digital health is an enabler of the group, enhancing the quality of healthcare services and patient experience, along with medical technology, from which the groups aims to benefit in the Kingdom. The Saudi private sector is a partner in clinical research and providing world-class health solutions.
The company focuses on increasing the utilization of its medical facilities in the UAE and Oman, Vayalil added, noting that its business is in a solid position to meet growing demand by new and existing patients.
Elsewhere, the CEO said Burjeel will announce any updates on its plans for initial public offering (IPO), expansions, or capital increase at the right time.
The company continues to explore the available investment opportunities for future projects. The inauguration of Burjeel Medical City, the UAE’s largest private hospital in 2020, and the MoU, which has been recently signed with the Saudi Ministry of Investment, reflect the group’s growth ambitions.
Founded in 2007, Burjeel operates 39 hospitals and medical centers. It reported revenue of AED 3.351 billion in 2021.
Burjeel inked a MoU with Saudi Arabia’s Ministry of Investment at a total value of $1 billion (SAR 3.75 billion) to expand across the Kingdom, Argaam earlier reported.
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