The UAE-based healthcare provider Burjeel Holdings signed on Wednesday a memorandum of understanding (MoU) with the Saudi Ministry of Investment that includes working with local institutions.
The company, which owns and operates hospitals and other healthcare facilities, will invest up to SAR3.75 billion ($1 billion) in the Kingdom by 2030.
The operator of 39 hospitals and medical centers will seek investment opportunities through joint ventures and public, private, partnership (PPP) models to establish and expand various healthcare offerings across Saudi Arabia, it said in a statement.
These offerings comprise an industry-leading healthcare network that will include specialty medical centers, day surgery capability, digital health ventures, comprehensive super specialty hospitals and clinical research programs.
Its research commitments also include exploring innovation in areas of cancer prevention, screening and therapy.
In addition to healthcare services delivery, Burjeel will also work through the Investment Ministry in areas of humanitarian aid and international healthcare volunteering.
The Group is currently holding talks with various private sector providers and leading public sector hospitals in the Kingdom to deliver these services and expects to begin formalizing collaboration agreements over the coming months.
Founded in 2007, Burjeel Holdings is the leading private healthcare services provider in the UAE, with a growing presence in the Gulf Cooperation Council States.
The group continues to set new benchmarks for healthcare delivery and patient outcomes, with state-of-the-art facilities and world-class service standards.
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 which is integral to the delivery of Vision 2030,” he added.
The company recorded more than AED3.3 billion ($898 million) in revenue for 2021, representing an 18% compound annual growth rate over the three-year period 2019-2021.
