Saudi Arabia

 

Interview: Jalil Allabadi, CEO, Altibbi

Saudi Arabia’s largest telemedicine consultations platform Altibbi has managed to double its revenue for fifth consecutive year. CEO and founder Jalil Labadi shares the secrets behind this success with HBI, and talks strategy as the company develops.

Global names on Saudi imaging PPP shortlist but ‘no decision yet’

Alliance, Affidea, Ribera Salud and InHealth are all among the eight name shortlist for Saudi Arabia's massive radiology private public partnership. However, a source in the market tells HBI that progress is still slow and a decision has not been made on a winner.

Foundation Holdings buys Saudi primary care

GCC investment firm Foundation Holdings has bought a majority stake in Saudi primary care business Shifa Al Munthaza Polyclinic (SMP) and has plans to list it in the next two years. HBI speaks to CEO Abishek Sharma to find out about its growth plans. 

Interview: Dr Mohamad Hamade, CEO, Amanat Holdings

Dubai-based investment firm Amanat Holdings has managed to almost double its share price over the past 18 months. CEO Dr. Mohamad Hamade shares the secrets behind this success with HBI and talks strategy as the group develops what he calls MENA's first post-acute care platform.

GCC hospital markets at a crossroads

Change is afoot for private hospital operators in the GCC with mandatory insurance rollouts and private sector-friendly reforms offset by squeezed margins and an exodus of foreign nationals. More big US non-profits have followed in the footsteps of their peers Cleveland and Mayo and investors are pouring money into new developments in some markets - but steering well clear of others. Here is our round-up after several weeks interviewing local sources for HBI Intelligence. 

Mubadala Health diversifies with $800m UEMedical deal

Mubadala Health, the integrated health network of sovereign investor Mubadala, has added speciality fertility and women's health services to its network and expanded into Saudi with the acquisition of UEMedical. It now claims to be the largest IVF provider in the region.

EMEA for-profit hospital sector shrinks 3-5% in 2020

Revenues in the EMEA for-profit hospital market fell by 3-5% in 2020 due to COVID-19 but could bounce back strongly in 2021, figures from HBI Intelligence show. NMC Health CEO Michael Davis tells HBI he anticipates a ‘return to normalcy’ to continue through the year. 

GCC post-acute group sells for 10.5x as M&A climate cools

TVM Capital Healthcare has sold the GCC's largest post-acute/rehab provider Cambridge Medical and Rehabilitation Center (CMRC) to investor Amanat Holdings for 10.5x its 2020 EBITDA, a much lower multiple than it got for similar business Provita six years ago. We discuss the change in M&A climate with TVM CEO Dr Helmut Schuehsler and talk to Amanat's CFO about its plans with CMRC and its three other healthcare assets.

EMEA hospital sector finishes 2020 strongly

Private hospital operators across Europe, the Middle East and South Africa had a good last few months of trading in what was a turbulent 2020, but the start of 2021 looks tougher. We talk to operators across the region.

NMC CEO: Any sale will be a competitive, traditional process

Will the creditors of NMC Healthcare, the GCC's largest for-profit healthcare operator which has been in administration since April 2020, choose a sale of its core UAE business in the next 3-6 months or a longer-term, creditor-led restructuring? We talk exclusively to NMC CEO Michael Davis and UAE sources. A 'fire sale' of parts of its core UAE business now seems entirely off the table.

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