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Saudi Arabia

 

Bupa growth strongest in emerging markets

The global healthcare group Bupa, experienced rapid growth in markets as diverse as Saudi Arabia, Hong Kong and Chile. It continues to make acquisitions across emerging markets, as well as launching new healthcare insurance products and distribution agreements. Global sales rose 7% to £4,916m from the first half of 2014, at constant exchange rates (CER), or 3% taken at actual exchange rates (AER). Underlying profit before taxation hit £253.3m, an increase of 2% at CER, or a fall of 3% at AER. In a wide-ranging interview, CEO Stuart Fletcher, spoke to Healthcare Nova about the results and Bupa’s future plans.
August 7, 2015

UK care industry in “serious position,” says Bupa CEO

The CEO of Bupa, Stuart Fletcher, spoke of his concern for the UK care industry, after the latest half-year results revealed 10% fall in UK profits, despite a 7% rise in global revenue at constant exchange rates. Half year sales to 30 June, 2015 came to £4,916m, up 7% on the first half of 2014. Taken at actual exchange rates, sales increased by 3%.
August 7, 2015

UK care industry in “serious position,” says Bupa CEO

The CEO of Bupa, Stuart Fletcher, spoke of his concern for the UK care industry, after the latest half-year results revealed a 10% fall in UK profits. Sales rose 7% to £4,916m, at constant exchange rates, or 3% taken at actual exchange rates. Underlying profit before taxation hit £253.3m, an increase of 2% at constant exchange rates (CER), but a fall of 3% taken at actual exchange rates (AER).
August 7, 2015

NMC aims to become regional leader

London-listed UAE hospital chain NMC Health is to invest $325m into Qatar and Saudi Arabia in the next two years. Although the group acquired Spanish fertility clinic Eugin in February 2015, this announcement indicates NMC sees growth closer to home. Competitors Aster DM and Al Noor also have big plans.
August 5, 2015

FREE BLOG Assaults and false promises – the reality of life in Qatar

Gulf states are rapidly trying to improve their healthcare infrastructure to cope with the rise in population, wealth, age, and non-communicable diseases. Saudi Arabia, Dubai, Abu Dhabi and Qatar have all introduced mandatory health insurance and are opening up to foreign investment in healthcare. But, to what avail? On a recent flight from Doha to […]
July 10, 2015

NMC pays nearly $1.8m per bed for ProVita

NMC Health, the UAE’s second largest hospital and outpatient group, has acquired ventilator-dependent, long-term care group ProVita for an enterprise value (EV) of $160.6m in cash. With ProVita currently only having 90 beds, this deal values each bed at close to $1.8m, emphasising the shortage and demand for long-term care in the region.
June 16, 2015

Green light for mandatory insurance in Saudi

New Saudi health minister Khalid Al-Falih has announced that the pilot scheme for mandatory health insurance for all citizens had been successful. That has led to hopes that mandatory insurance, which allows patients to chose private sector providers, will be rolled out for everyone. Meanwhile, Saudi Arabia will open its $590bn stock market to foreign investment. Healthcare services are tipped to be a target for investors, as the state turns to the private sector.
June 9, 2015

Mixed feelings over Saudi’s new health minister

In late April 2015, Saudi Arabia appointed its sixth acting health minister in the last three years. Khalid bin Abdulaziz Al-Falih’s appointment has raised the hopes of the private sector, as the minister was formally the chairman of Saudi Aramco, the private oil giant. Shares in healthcare groups recently rose after the new minister said that the pilot for statutory healthcare insurance has been completed.
June 2, 2015

Egypt’s largest hospital group expands

Alameda claims to be Egypt’s largest private hospital group with three facilities with total capacity of 670 beds. The family owned group, in which the IFC has a stake, has plans to work with an insurer and open a nursing college. We talk to chairman Fahad Khater.
May 26, 2015
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