UK pharma startup targets Gulf for future IPO UK pharmaceutical startup Ambrose Healthcare has revealed plans for a stock market listing in the Middle East. Ambrose Healthcare aims to provide treatments for rare diseases and address the unmet needs of patients in hospital or specialist care facilities. The Cambridge-based company is undertaking a six-month “small fundraising” of £1 million, and has so far […] April 10, 2023
Analysis Health More GCC healthcare mergers likely as competition hots up The GCC healthcare market is set to witness more mergers, acquisitions and consolidation as competition increases, say experts. As the sector continues to mature, public-private partnerships (PPPs) are bringing about a shift in care delivery that is likely to be transformative, according to Dubai-based investment banking advisory firm Alpen Capital. Its research predicts that healthcare […] April 4, 2023
Fitness chains get financially fit as more Americans hit the gym Tighter budgets may not be a constraint for Americans looking to get back into shape, keeping gym operators financially fit, even as inflation pinches other consumer-focused sectors. Some of the major players in the fitness sector have pushed the envelope on membership rates after the pandemic scare, helping them beef up earnings, when most other […] March 23, 2023
Analysis A new age as Abu Dhabi accelerates its longevity push Abu Dhabi has grand plans to dominate the multi-billion-dollar longevity sector in the Gulf with the opening of two new facilities. The longevity industry is focused on the science of ageing and its related illnesses. The market is predicted to grow to as much as $32 billion in the UAE by 2026. And the region’s […] March 22, 2023
Banking & Finance Mandatory health coverage boosts Middle East insurance sector Mandatory health insurance requirements swelled Gulf insurers’ income last year, although growth will slow in 2023 and profitability remains a challenge despite the coverage boom. Those are some of the findings in a report by S&P Global Ratings which predicts easing inflationary and supply chain pressures should lower costs arising from property, motor and casualty […] March 7, 2023
Health Aster DM Healthcare shortlists two bidders for stake in Gulf business Dubai-based Aster DM Healthcare is looking to sell a majority stake in its Gulf-based business and has short-listed buyers for the sale, two sources with direct knowledge of the matter told Reuters. Aster, which operates hospitals, clinics and pharmacies in the Gulf and India, is looking to sell a stake of more than 50 percent […] March 5, 2023
Medical tourism looking sickly as patients watch their spending Attila Knott has an empty dental hospital in Hungary. The foreigners with bad teeth he was counting on never arrived, deterred first by Covid-19 and now by a cost-of-living crisis that has left the medical tourism industry struggling to recover even after the lifting of pandemic travel restrictions. “People are more cautious,” Knott told Reuters, […] February 27, 2023
Ireland’s Middle East exports grow with ‘new’ economy The Republic of Ireland is targeting the UAE and the wider Middle East as a “major growth market”, with innovation at the heart of the economic relationship. Opportunities for closer collaboration between Irish and UAE firms have been identified in the “new” economy including AI, space, fintech and entrepreneurship. Healthcare, and medtech in particular, is […] February 22, 2023
Egyptian healthcare startup raises $16m in latest funding round Egypt’s digital healthcare startup Yodawy has raised $16 million in the first close of its Series B round, the company said in a statement. The round was co-led by Delivery Hero Ventures, the venture capital arm of food delivery platform Delivery Hero, and UAE-based Global Ventures. Japan’s AAIC Investment and Saudi-based Dallah Albaraka also participated […] February 13, 2023
Burjeel and Leejam joint venture to open over 60 clinics in Saudi Abu Dhabi-listed Burjeel Holdings has signed a memorandum of understanding (MoU) to establish a joint venture with Leejam Sports Company, the owner and operator of fitness centres in Saudi Arabia and the UAE. The equally-owned venture will be operated through a newly formed company established under Saudi regulations, Burjeel said in a statement. The two […] February 6, 2023
Food & Drink Forget ‘Dry January’ – more Gulf drinkers ditching booze all year Dry January, the initiative of abstaining from alcohol for the first month of the year, has become a yearly fixture in many people’s lives since it was launched by Alcohol Change UK in 2013, and the Middle East is no exception. “We definitely see sales increase in the UAE,” Erika Doyle, founder and managing director […] January 27, 2023
Healthtech provider targets early cancer detection across Mena Abdul Latif Jameel Health is planning to expand throughout the Middle East and Africa, its CEO Akram Bouchenaki has told AGBI. The multinational company – the healthcare business of Saudi family conglomerate Abdul Latif Jameel – is looking at new locations and tech innovations as part of its ambition to accelerate the region’s access to […] January 6, 2023
Health Qatar among countries imposing Covid tests for Chinese travellers Authorities around the world are imposing or considering curbs on travellers from China as coronavirus cases in the country surge following its relaxation of “zero-Covid” rules. International health experts predict at least one million deaths in China this year. However, China has played down concerns, saying decisions by some countries to impose a requirement for […] January 4, 2023
Analysis Gulf healthtech investment is just what the doctor ordered Technological innovation and broader changes in society are shifting the balance of power in healthcare across the Middle East region, increasing investment from entrepreneurs looking to capitalise on the sector’s digital revolution. “The same wave of personalisation and consumerisation that ushered in analytics-based recommendation engines for entertainment has programmed people to want healthcare that is […] January 4, 2023
Health Bahrain’s GFH takes on US healthcare with Big Sky deal Bahrain’s GFH Financial Group announced on Tuesday it has completed the acquisition of a majority stake in Big Sky Asset Management, a US real estate asset manager focused on the healthcare sector. The transaction further expands GFH’s presence in the States and follows the partnership in May with SQ Asset Management, a specialist in student […] January 3, 2023
Analysis Pharma giants move in on UAE as demand stretches local firms AstraZeneca and G42 Healthcare have signed an agreement to locally manufacture pharmaceuticals in Abu Dhabi. The agreement outlines collaboration in four key areas, including localisation of manufacturing, research and development, innovation and sustainability at a global scale. But while the deal aims to cement Abu Dhabi’s position as a hub for research and innovation in […] December 21, 2022
Development Bill Gates hails UAE president’s action on Covid and polio Bill Gates has praised his foundation’s partnership with Sheikh Mohamed Bin Zayed Al Nahyan, the UAE’s president, for its progress in tackling Covid-19 and polio. The philanthropist and Microsoft co-founder told an event in Abu Dhabi on Sunday: “We’ve worked with the [UAE] president on a number of things – he has been very generous […] December 13, 2022
Opinion Employment Why parent-friendly policies can boost business performance The UAE has launched the Parent-Friendly Label (PFL) for businesses, encouraging them to offer policies and practices that support working parents of young children December 8, 2022
Exclusive Health G42 Healthcare executive hails new era after Amazon tie-up “We want to reach everywhere at scale and at speed.” Many business leaders might say so, but when Dr Fahed Al Marzooqi, chief operating officer of G42 Healthcare, tells AGBI this, he has good reason. G42 Healthcare, a subsidiary of Abu Dhabi-based AI firm G42, recently struck a deal with Amazon’s cloud computing arm – […] November 23, 2022
Health Venture capital firm to bring healthcare technology to the UAE An Abu Dhabi-based venture capital firm has obtained approval from regulators to invite investors into healthcare startups in the US and elsewhere with a view to bringing specialist technology to the Middle East. Biosis Ventures said this week it had in principle received permission from the Abu Dhabi Global Market to offer venture capital products […] November 17, 2022
Real Estate Nakheel secures $4.6bn from Dubai banks to build more islands Dubai developer Nakheel has secured 17 billion dirhams ($4.63 billion) from local banks for projects including its latest collection of manmade islands, the company said on Tuesday. The state-owned developer best known for Palm Jebel Ali said the financing came from a syndicate of three Dubai lenders: Emirates NBD, Mashreq Bank and Dubai Islamic Bank. […] November 8, 2022
Analysis Health Region urged to support vaping to deter smoking black market High taxes and outright bans imposed in some Middle East countries on e-cigarettes and vaping products have been blamed for pushing smokers to the black market and slowing the transition away from nicotine products in the region. Black market numbers in Saudi Arabia, Jordan and the UAE are “alarming” and can only be resolved by […] November 4, 2022
