Health Saudi Arabia’s Fakeeh Care to offload 21% stake in IPO Fakeeh Care Group, one of the largest private healthcare groups in Saudi Arabia, plans to offload 21.47 percent of its stake through existing and new shares in an initial public offering (IPO). The group, which owns four hospitals in the kingdom, intends to offer 30 million new shares and 19.8 million existing shares to investors […] April 25, 2024
Tourism Turkey’s health tourism sector worth $2bn in 2023 Turkey’s health tourism sector generated revenue of $2.3 billion in 2023, data released by the Ministry of Trade reveals. Health service exports surged from $1.9 billion in 2022 to $2.3 billion in 2023, driven by an influx of 1.4 million health tourists, placing Turkey seventh in the global health tourism rankings. The country has 40 […] April 9, 2024
Health Aster DM completes GCC and India business split Hospital chain Aster DM Healthcare has concluded the separation of its GCC and India businesses into two standalone entities. As part of the separation plan, a consortium of investors led by Fajr Capital, a UAE sovereign-backed private equity firm, acquired a 65 percent stake in Aster GCC. Dr Azad Moopen, the founder chairman of Aster, […] April 4, 2024
Health Abu Dhabi puts together global life sciences contender A new company to help establish Abu Dhabi as a major global player in life sciences has been announced by the emirate’s sovereign wealth fund ADQ. The new concern, called Arcera, will act as an umbrella entity for ADQ’s shareholdings in the Swiss pharmaceutical company Acino, Birgi Mefar Group of Turkey and Egypt’s Amoun. Arcera […] April 2, 2024
People & Lifestyle Mubadala to buy pharma company Kelix Bio Abu Dhabi’s Mubadala Investment Company has signed a definitive agreement to acquire Kelix Bio, a specialty pharmaceutical business in the UAE that focuses on delivering complex generics across emerging markets. The Kelix Bio acquisition is set to boost the UAE’s global standing in life sciences, state-own Abu Dhabi Media Office reported, quoting a Mubadala statement. […] March 26, 2024
Health Aster DM says India, GCC business split nears closure Hospital chain Aster DM Healthcare has confirmed that the separation of its GCC and Indian businesses and the proposed investment in the former by a Dubai private equity firm are nearing completion. The company agreed to sell a 65 percent stake in its Gulf business to a state-backed Fajr Capital-led consortium for $1 billion in November […] March 21, 2024
Health NMC and Dubai Islamic Bank end legal dispute NMC Healthcare has reached an out-of-court settlement with Dubai Islamic Bank, ending the long-running legal dispute between the two businesses. The healthcare operator had borrowed around $400 million from DIB, which is the largest Islamic bank in the UAE. The loan used collateral known as insurance receivables, which are payments by insurance companies for medical […] March 19, 2024
Health ‘Smart ring’ project aims to help fight chronic health problems A wearable “health ring” is being used by a Dubai-based healthcare technology startup to help combat the Middle East region’s metabolic diseases crisis. The company, Metabolic – which brands itself as meta[bolic] – has signed a partnership with the Finnish maker of the Oura Ring, and aims to stem the billions lost in healthcare systems […] March 16, 2024
Video length: 03:32 VIDEO Health The Dubai spa charging AED90,000 to increase ‘healthspan’ Clinique La Prairie opened its fifth Longevity Hub-branded spa in Dubai last month and is preparing to open a $300 million health resort in Saudi Arabia’s Amaala giga-project next year. The “medical spa” receives 60,000 clients each year from the Middle East to its luxury facility in Montreux, Switzerland for longevity and preventative medicine treatments. […] March 15, 2024
EXCLUSIVE Health For those who want ‘IVF and a holiday’ … Dubai’s next hotel A fertility clinic-resort is opening soon, thanks to changes in UAE law on assisted reproduction March 6, 2024
Construction Dubai Science Park reveals expansion plans Dubai’s biotechnology free zone is adding 60 percent more offices, laboratories and warehouses over the next few years to cater for an influx of new companies, its senior vice-president told AGBI. Dubai Science Park, part of Dubai-listed Tecom Group, is planning an expansion of 200,000 sq ft of additional storage and logistics facilities at the […] February 23, 2024
Opinion Health Gulf’s longevity sector has a long way to go Growing lifespans call for a joined-up approach to personalised medicine, preventative care and nutrition February 21, 2024
Tourism Wellness resort leads Egypt’s medical tourism push Plans for Egypt’s first wellness resort have been revealed as experts forecast an increase in the number of medical visitors to the country. Maxim Group has signed an agreement with the General Authority for Investment and Free Zones to establish Naya Wellness Resort in Al-Saf, Giza. About $48 million is being invested in the resort, part […] February 14, 2024
Opinion Education Saudi Arabia needs a sea change in higher education Newer fields of study must be encouraged to meet employment market demands February 12, 2024
Analysis Manufacturing Saudi deal ‘unlikely to cure Iraq’s pharma problems’ Iraq has turned to Saudi Arabia to help it improve its healthcare industry and increase pharmaceutical manufacturing. The ministries of health for both countries are collaborating to boost private healthcare in Iraq and foster partnerships to speed up the establishment of local pharmaceutical factories. However analysts say the impact of the partnership will be limited […] February 8, 2024
People & Lifestyle Mubadala buys stake in Indian hospital chain The Abu Dhabi sovereign investor Mubadala Investment Company has invested in Manipal Health Enterprises (Manipal), India’s second-largest hospital chain by number of beds. “Given the ever-increasing demand for high-quality hospital care across India, we look forward to supporting Manipal’s growth journey in the years ahead,” said Camilla Macapili Languille, head of life sciences at Mubadala, according to the […] February 6, 2024
Exclusive Health Dubai hospitals are ailing in saturated healthcare market The general healthcare sector in Dubai is buckling under saturation, with weaker operators shutting down or battling financial woes, Dr Azad Moopen, the founder and chairman of Aster DM Healthcare, told AGBI. The healthcare sector in the emirate faces a challenging economic climate, marked by stubborn inflation, high interest rates and slow growth. The introduction […] February 6, 2024
Tech Saudi startup’s infrared tech has ‘game-changing’ potential A Saudi Arabian startup’s pioneering research will slash the cost of infrared sensors, enabling them to be used in a myriad of day-to-day applications and accelerating the development of fully autonomous vehicles, its founder told AGBI. Osman Bakr, founder and chairman of Quantum Solutions, is also head of the functional nanomaterials laboratory at Kaust (King […] February 4, 2024
Analysis Health Gulf embraces a personalised approach to healthcare The Gulf is shifting towards a more personalised approach to healthcare, but the growth of the sector faces challenges in terms of talent and data management according to experts. Traditional medicine tends to address only the initial health issues without tailoring solutions to the unique requirements of each patient, says Vadim Fedotov, CEO of Bioniq, […] February 1, 2024
Leisure & Hospitality Fitness brands shape up for Saudi expansion plans GymNation, founded in Dubai, has revealed plans to open 50 new fitness centres in Saudi Arabia as it seeks to capitalise on the kingdom’s billion-dollar fitness industry. The mid-market brand was set up six years ago and currently operates 11 gyms in the emirate, with a further six set to open before the summer. Founder […] February 1, 2024
Health Training and tech to tackle healthcare staff shortage Technology and training combined can aid the impending recruitment crisis in UAE healthcare, experts say. Globally there will be an estimated shortfall of 10 million workers in the industry by 2030, primarily in low and middle income countries, according to the World Economic Forum. The UAE has not been spared. Research from Colliers showed there […] February 1, 2024
EXCLUSIVE Health Dubai mulling ratings for hospital performance, says Aster founder Dubai is considering the introduction of performance ratings for healthcare providers, Dr Azad Moopen, the founder and chairman of Aster DM Healthcare, has told AGBI. The system would allow operators to adjust their insurance tariffs – the prices that insurers agree to pay for medical services or procedures – based on their classification, providing an […] January 31, 2024
