Health Mubadala expands UAE healthcare logistics reach Abu Dhabi’s Mubadala Investment Company has acquired an 80 percent stake in Global Medical Supply Chain and Al Ittihad Drug Store from GlobalOne Healthcare Holding, the healthcare division of UAE-based Yas Holding. GlobalOne Healthcare Holding will retain a 20 percent stake in both companies. The acquisition expands Mubadala’s footprint in healthcare logistics and pharmaceutical distribution. […] December 25, 2024
Health Thriving women’s fitness market offers ‘significant potential’ Exercise rates among women in the Middle East are higher than the global average, creating opportunities for companies to tap into this underdeveloped market segment. Participation in intense physical activities among women in the Middle East has grown from 20 percent of the population in 2019 to 31 percent in 2024. That’s a much larger […] December 19, 2024
Markets Almoosa Health’s Saudi IPO order book hits $46bn The institutional book-building process for Almoosa Health Company’s upcoming initial public offering (IPO) has reached SAR173 billion ($46 billion) and was oversubscribed 103 times. The company set the final offering price at SAR127 per share, raising SAR1.69 billion on the Saudi stock market listing. The expected market capitalisation will be SAR5.63 billion, making it the […] December 17, 2024
Analysis Health Gulf’s growth in retirees drives demand for senior services Changing demographics globally are paving the way for a new seniors industry in the Gulf. UAE-headquartered Aster DM Healthcare and Bahrain’s GFH Financial Investment Group are Gulf household names that have entered this fledgling but promising business with targeted medical and property services. The baby boomer generation now ranges between 60 and nearly 80 years […] December 16, 2024
People & Lifestyle UAE’s Arada strengthens gym holding Arada has finalised the purchase of three UAE-based gym brands, bringing its total number of premises operated across the Gulf state to 15. The real estate developer said that the women-only FitnGlam, boutique exercise hub The Platform Studios and recently launched health club Fitcode make its fitness and wellness division, Wellfit, worth more than AED1 […] December 10, 2024
Opinion Agriculture We need an agency to fight AMR, the region’s silent killer A lack of government financial resources and little, if no, regulatory frameworks add to the problem December 9, 2024
Tech Mubadala-led group buys stake in US company Zelis A consortium led by Abu Dhabi’s Mubadala Investment Company is to acquire a minority stake in Zelis, a US-based financial technology company. The other partners are Norwest and HarbourVest. Parthenon and Bain Capital remain the majority owners in Zelis. Zelis is helping to streamline the US healthcare financial experience, which is complex and needs technology-driven solutions, […] December 5, 2024
People & Lifestyle Almoosa Health to raise up to $450m from Saudi IPO Almoosa Health Company expects to raise between SAR1.63 billion and SAR1.69 billion ($433.80-449.7 million) from its initial public offering (IPO) on the Saudi stock exchange. The company set the offering price range between SAR123.00 and SAR127.00 per share as the institutional book-building period started on Wednesday and will end on December 10. The offer price […] December 5, 2024
Markets Saudi hospital operator Almoosa announces IPO Almoosa Health Company has announced plans to launch an initial public offering of 30 percent of its shares on the Saudi stock market. The price range for the offering will be announced on December 4, with the institutional book-building process starting the same day. This will be followed by a retail subscription period from December […] November 28, 2024
Health AI in healthcare is not a cure-all solution Large language models such as the AI chatbot ChatGPT are gaining traction in healthcare, and Gulf states are investing heavily in the prospect, but LLMs’ integration into clinical practice presents challenges. A study led by Dr Ethan Goh, published last month in the Journal of the American Medical Association Open Network, tested whether ChatGPT could […] November 22, 2024
Analysis Health Golden returns draw investors to fitness markets Investors are showing increasing interest in homegrown fitness companies, tempted by the “golden egg” returns on offer. The fitness market in the Middle East and North Africa (Mena) has been growing at an annual rate of 30 percent since 2020, with the UAE sector valued at an estimated $550 million and Saudi Arabia at $1.7 […] November 18, 2024
Health PureHealth in talks to buy hospital operator NMC PureHealth Holding, the UAE’s largest healthcare group, is in discussions to acquire the UAE hospital operator NMC Healthcare, sources familiar with the matter say. A deal, if finalised, could be announced before the first half of 2025, sources told AGBI, speaking on condition of anonymity. Other potential bidders had explored the opportunity but were not […] November 15, 2024
Analysis Health Bahrain government rebuffs citizens’ quota in healthcare A unanimous call by the Bahraini parliament for half the jobs in private healthcare to be reserved for citizens has been rejected by the government on the grounds of possible harm to patients and the potential impact on foreign direct investment. Government officials told the National Assembly that the proposed quota would constrain private healthcare’s […] November 14, 2024
EXCLUSIVE Health Aster DM Healthcare expects to close Saudi deals in months Aster acquiring hospitals Evaluating 'five or six assets' Plans for 1,000 beds Aster DM Healthcare is buying more clinics and hospitals in Saudi Arabia with some deals expected to close in the coming months. The hospital operat... Register now: It’s easy and free This content is available for registered members only. Register for your free […] November 13, 2024
Analysis Health Healthy progress made in Saudi Arabia’s wellness drive Private health services in Saudi Arabia are rapidly expanding as its growing population and the focus on improving citizens’ wellbeing under the Vision 2030 programme bring in billions of dollars in new domestic and foreign investments. During the Global Health Exhibition, held in Riyadh at the end of October, Saudi officials announced deals worth $13.3 […] November 11, 2024
Analysis Health Health sector next target for Saudi private equity Private equity is looking to Saudi Arabia’s healthcare and wellness sectors for the kingdom’s next growth areas as it tries to manage a burgeoning young population. Some 60 percent of Saudi Arabia’s 32 million-plus population are under 30, and analysts from research company S&P say the kingdom’s demographics are the main reason for a sustainable […] October 21, 2024
Health Mubadala pharma subsidiary makes four acquisitions from Yas Mubadala Investment Company’s newly acquired subsidiary, Kelix Bio, has bought four pharma assets from Yas Holdings’ healthcare unit, GlobalOne Healthcare Holdings. Kelix Bio purchased Bioventure, Bioventure Healthcare, Gulf Inject and Wellpharma, the Abu Dhabi sovereign wealth fund Mubadala said on Monday. The value of the deal was not disclosed. Mubadala said the four acquisitions would […] October 14, 2024
Health Sulaiman Al Habib secures $347m loan for Saudi expansion Dr. Sulaiman Al Habib Medical Services Group Company has secured long-term financing to expand across Saudi Arabia amid growing competition for healthcare services in the kingdom. The company, which trades on the Saudi stock exchange, has signed a sharia-compliant credit facility worth SAR1.3 billion ($347 million) with Al Rajhi Bank, a Saudi-listed lender. The 13-year-long facility will […] October 1, 2024
People & Lifestyle Aster DM Gulf unit explores $250m Saudi expansion The UAE-based hospital chain Aster DM Healthcare’s Gulf unit is exploring acquisitions worth $250 million to expand its presence in Saudi Arabia. The deals will focus on medical centres and hospitals, Bloomberg reported, quoting Alisha Moopen, managing director and group CEO of Aster’s Gulf Cooperation Council unit. These deals will be finalised in the next […] September 29, 2024
Infrastructure Riyadh signs off billions to improve road safety Riyadh municipality has signed five contracts worth SAR6 billion ($1.6 billion) to improve roads in the Saudi capital, where traffic accidents are above the global average. The contracts entail rehabilitating and asphalting 83 million square metres of road network over five years, in time for Riyadh’s hosting of the 2030 World Expo, which will bring […] September 25, 2024
Trade Australia and UAE hope for $678m boost after trade deal Australian exports to the UAE are expected to increase by $678 million after the two countries completed discussions over a comprehensive economic partnership agreement (Cepa). The deal, expected to be signed later this year, will make more than 99 percent of Australian exports to the UAE tariff-free, saving exporters up to $160 million annually. The […] September 17, 2024
People & Lifestyle Brookfield seeks ADQ support in bid for Spain’s Grifols Brookfield Asset Management has been in discussions with ADQ, a sovereign wealth fund in Abu Dhabi, to explore potential support for acquiring Spanish blood-plasma company Grifols SA. The Canada-based investment company has also held talks with Singapore’s GIC Pte, though no agreements have been finalised, Bloomberg reported, citing unnamed sources. Grifols, which is traded on […] September 2, 2024
