Balsam Healthcare sees Tadawul IPO in 2028: CEO

Speaking on the sidelines of the Global Health Exhibition in Riyadh, Al-Anazi stated that the company has posted growth at the level of branches, operations, and profits, expecting revenues to double by 2030 compared to current levels.

“The company operates in three main segments: hospitals, primary care, and pharmacies. In 2024, Balsam served over one million patients across its healthcare facilities, and more than one million customers through its pharmacy division,” said the CEO.

He expects the company’s market share to double as it expands in primary care, in line with the Kingdom’s Vision 2030 objectives and the Ministry of Health’s targets. He also highlighted the company’s focus on expanding into regions with high demand for healthcare services.

Al-Anazi further indicated that Balsam is an investment company in the healthcare sector, formed through the merger of five companies in 2021. Since then, it has expanded across the Kingdom, covering five administrative regions and around 14 cities, with 100 branches including hospitals, medical centers, and pharmacies.

The coming period will see new projects in several regions, in addition to growth through acquisitions of existing companies, he added.

According to the top executive, Saudi Arabia’s healthcare sector is promising and experiencing an investment boom driven by population growth and rising demand for healthcare services. Investments in the sector have exceeded SAR 124 billion, and healthcare services are developing rapidly, with primary care becoming one of the key pillars of the Vision to ensure access to primary healthcare for all citizens.