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
Health Gulf could have drone healthcare delivery by 2026 Drone delivery technology transporting healthcare materials such as blood samples, vaccines and pharmaceuticals is likely to take to the skies across the Gulf within the next two years. A test programme between Siemens Healthineers and the German drone manufacturer Wingcopter in Kenya is due to come to a conclusion in the next two and a […] January 31, 2024
Health Saudi university developing AI for early diabetes detection King Abdullah University of Science and Technology (Kaust) said this week it is working with Saudi company AmplifAI Health to develop AI technology for use in the early detection of diabetes. Saudi Arabia and the UAE in particular are investing in health technologies that can predict medical risk and help develop medicines, and the kingdom […] January 30, 2024
People & Lifestyle Pure Health buys Abu Dhabi hospital stake for $150m A subsidiary of Abu Dhabi’s Pure Health Holding has agreed to acquire Mayo Clinic’s shares in Sheikh Shakhbout Medical City for $150 million. Under the agreement, Abu Dhabi Health Services Company (Seha) will acquire 25,000 shares, or 25 percent, of the total issued shares of Sheikh Shakhbout Medical City, Pure Health said in a statement […] January 30, 2024
People & Lifestyle Dubai Investments buys stake in fertility company Dubai Investments has acquired an equity stake of 34.3 percent in Global Fertility Partners, a network of fertility and reproductive genetics centres in the Middle East. GFP will get $60 million in equity financing to expand its network of fertility and women’s health centres across the Middle East and North Africa. Investors and family offices […] January 29, 2024
Opinion Health How tech is reinventing regional healthcare Local governments are leveraging AI to shape the future of medicine January 29, 2024
Health Saudi biotech strategy aims to dominate regional industry Saudi Arabia has launched a National Biotechnology Strategy with the aim of becoming the region’s biotech leader by 2030 and a global leader by 2040, contributing 3 percent, or SAR130 billion ($35 billion), to non-oil GDP. The strategy was unveiled by Crown Prince Mohammed bin Salman with the aim of improving Saudi health standards, helping […] January 26, 2024
Finance Avalon Pharma’s market value at $437m on listing Saudi Arabia’s Middle East Pharmaceutical Industries Company (Avalon Pharma) has priced its initial public offering (IPO) at the top of its range at SAR82 ($21.87), implying a market capitalisation of SAR1.64 billion ($437.33 million) on listing. The recorded orders during the institutional book-building stood at SAR68.27 billion, representing a coverage of 138.76 times. The retail […] January 25, 2024
Health Healthy rise in medical tourism to Abu Dhabi clinic The number of overseas patients travelling to the UAE for treatment at the Cleveland Clinic Abu Dhabi rose by 20 percent in 2023, the hospital’s CEO has said. Overseas visitors make up 1.5 percent of the patients treated each year at the Cleveland Clinic hospital on Al Maryah Island. Its CEO, Dr Jorge Guzman, told […] January 24, 2024
Health Kuwait’s pharmaceutical plan may need a shot in the arm Kuwait will continue to lag behind its GCC neighbours in attracting investment into its pharmaceutical sector despite new government measures, say experts. The Ministry of Health announced plans last month to set up warehouses across health districts, adding new facilities to improve medication storage and delivery. It said it is also developing a guide for […] January 24, 2024
People & Lifestyle UAE’s Response Plus buys UK healthcare firm Prometheus Abu Dhabi-listed healthcare provider Response Plus Holding’s unit has acquired Prometheus Medical, a UK-headquartered healthcare training and consultancy services company. The acquisition will accelerate Response Plus Medical’s (RPM) entry into the UK and Nordic region, strengthening its training capabilities and expanding its portfolio to cover health consultancy for emergency preparedness and response, the company said […] January 21, 2024
Health Saudis advised to go back to masks in crowded spaces Saudi Arabia has advised people to return to wearing masks in crowded public places after the spread of a new Covid-19 variant, but has told the public there is no cause for concern. “Try to wear a face mask when in crowded places, for your protection and protecting others from respiratory infection,” the Public Health […] January 19, 2024
Banking & Finance GCC companies lead early sukuk moves in 2024 Saudi Arabia’s largest healthcare provider has announced plans to issue a riyal-denominated sukuk as analysts predict that $170 billion of the sharia-compliant bonds will be issued this year. Middle East Healthcare Company, the parent of Saudi German Health, said in a filing to the Saudi Stock Exchange that the offering size would be determined later, […] January 17, 2024
People & Lifestyle Aster DM plans dividend payout from Gulf unit sale India’s Aster DM Healthcare intends to distribute between 70 percent and 80 percent of the $903 million proceeds it will receive from selling its Gulf business. The company agreed in November 2023 to sell a majority stake in its Gulf business to Alpha GCC Holdings for $1 billion as part of a plan to separate […] January 16, 2024
Banking & Finance Dubai’s GII invests $160m in Saudi medical group Sharia-compliant asset management group Gulf Islamic Investments (GII) has invested $160 million (SAR 600 million) in Saudi Arabia’s Abeer Medical Group. Abeer is the largest affordable healthcare services provider in Saudi Arabia, operating 50 medical centres, clinics, hospitals, pharmacies, and optical centres across GCC countries and India. GII co-founder and co-CEO Mohammed Alhassan said the […] January 15, 2024
Health PureHealth acquires UK’s Circle Health for $1.2bn PureHealth, the largest healthcare platform in the Middle East, has acquired Circle Health Group, the UK’s largest operator of hospitals, for $1.2 billion, as part of its global expansion strategy. The deal completion achieved regulatory approvals in record time, the company said in a statement. “After investing in Ardent Health USA, this is PureHealth’s second […] January 15, 2024
Finance Avalon Pharma finalises price range for IPO Saudi Arabia’s Middle East Pharmaceutical Industries Company (Avalon Pharma) has set the offer price range for its proposed initial public offering (IPO). The price range has been set between SAR78 and SAR82 ($20.80-$21.87), the company said in a statement. The institutional book-building period will run from January 14 to 18. The home-grown pharmaceutical maker will […] January 12, 2024
Trade Healthcare, hydrogen and more: Saudi-Thai deals in sight Saudi Arabia and Thailand are strengthening economic ties with prospective deals in healthcare, hydrogen and agriculture after patching up a longstanding diplomatic spat. The two nations reached a rapprochement in January 2022, more than three decades after a dispute over a 1989 jewellery heist known as the Blue Diamond Affair. “The economic opportunities from cooperation […] January 11, 2024
Economy Dubai unveils $56bn plan to improve standard of living Dubai has unveiled a AED208 billion ($56.64 billion) ten-year strategy aimed at making the city one of the top three in the world for standard of living. There are also plans to double the number of Emirati families and triple the number of citizens working in the private sector by 2033. “We aim to double […] January 5, 2024
Food & Drink Think Jeddah, think fish For generations of pilgrims travelling to Mecca and Medina, the thriving port city of Jeddah on Saudi Arabia’s Red Sea coast is known as the gateway to the two Holy Mosques. With protein and nutrition comes strength and in the harsh conditions of Arabia it’s the fittest and strongest who thrive. No wonder then that […] December 18, 2023
