Talking points at Arab Health
Arab Health took place last month in Dubai, with thousands of exhibitors looking to buy or sell everything from cutting edge high-end surgical equipment to mattresses. Here are some of the talking points we hear came out of the event.
- Funding is not a huge problem, but it is local rather than international, and often state-owned like Mubadala / from sovereign wealth funds. There is some international private equity interest, like TVM Capital, but they are seen as pioneers, and attracting foreign investment remains tricky, and how to attract foreign investment was a key talking point. Foreign investors are waiting for local investors to show more willing before putting their hands into their pockets.
- There’s a real need for clinical education in the region – and an opportunity to fill that gap. Educational establishments in the West and elsewhere have representative offices designed to attract young doctors and students to poach them abroad to pay $30,000 a year for their foreign education, but in terms of bricks and mortar there’s not so much on the ground. There’s a big opportunity for global clinical educators to train all patient-facing staff.
- Foreign “big hitters” – like Johns Hopkins – have a very strong reputation in the Gulf. The leading brands, in the US and UK in particular, have a seemingly unshakeable cachet especially when it comes to acute care.
- As a result, there’s still a strong tendency for patients with complex conditions, or the parents of sick children, to look to travel to the West for treatment. International operators retain local offices but these are used to refer abroad rather than as a springboard for building facilities in GCC. Adults will still go to Cleveland or Mayo, children will go to Great Ormond Street. There’s a bridge to be gapped but that’s no reflection on the quality of medics in the region, nor on the standard of facilities which is often world class.
- One of the stumbling blocks for international players is they need to learn they cannot just fly in, replicate what they do elsewhere, and expect success. Credibility in Arab markets matters, not least when dealing with regulatory bodies and bureaucracy. A strong local presence – and partner – are viewed as the keys to success.
- Saudi Arabia is seen as the place to be. The biggest buzz in the gulf, and the biggest opportunities, concern the sovereign Arab state – and not simply because it has the biggest economy in the region. The pilots underway in a number of areas (radiology, pathology, and primary care) are a tantalising prospect and backed by the authorities, and especially noteworthy when married to discussions of reform.
We would welcome your thoughts on this story. Email your views to David Farbrother or call 0207 183 3779.
