Burjeel Holdings, the top healthcare provider in the UAE, and the Ministry of Investment of Saudi Arabia have signed a memorandum of understanding (MoU).
In line with the agreement, the private healthcare group will partner and collaborate with institutes and healthcare organisations, and invest up to $1bn billion in the kingdom by 2030.
Burjeel Holdings will explore investment opportunities through joint ventures and public-private-partnership (PPP) models to establish and expand healthcare offerings across the kingdom, including an industry-leading healthcare network that will include speciality medical centres, day surgery capability, digital health ventures, comprehensive super speciality hospitals and clinical research programmes.
Its research commitments include exploring innovation in cancer prevention, screening and therapy.
In addition to healthcare services delivery, Burjeel will also work through MISA in areas of humanitarian aid and international healthcare volunteering.
The group is in discussions with various private sector providers and leading public sector hospitals in Saudi Arabia to deliver these services and expects to begin formalising collaboration agreements over the coming months.
Burjeel Holdings’ founder and CEO Dr. Shamsheer Vayalil said: “Saudi Arabia is a key focus market for Burjeel Holdings and we are proud to commit to this MoU with the Ministry of Investment – a significant step in our entry to the kingdom. We are excited about the many opportunities to support the kingdom’s healthcare ambitions and to bring our expertise to a sector integral to the delivery of Vision 2030.”
Recent financial records were revealed by Burjeel Holdings, demonstrating the power of its broad portfolio of premium healthcare assets, highly specialised services, and powerful, interconnected growth platform. A three-year period from 2019 to 2021 saw a compound annual growth rate of 18%, resulting in revenue of Dhs3,351m in FY 2021.
