Burjeel Holdings Plans Expansion into Riyadh with Two Specialized Day Surgery Centers
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Burjeel Holdings, a leading hospital operator based in Abu Dhabi, has unveiled ambitious plans to establish two specialized day surgery centers in Riyadh by the year 2025.
This strategic move aims to tap into the burgeoning healthcare market in the Saudi capital, with anticipated annual revenues ranging from 150 to 200 million riyals ($40-$53 million) once the centers reach full operational capacity.
According to a statement released on Wednesday, the projected capital expenditure for each center falls between $30-$40 million.
Burjeel emphasized that each facility would require an additional $10-$15 million in working capital investment.
Currently managing 16 hospitals and 23 medical centers, Burjeel is poised to extend its footprint into the lucrative Saudi healthcare sector.
The announcement comes on the heels of Burjeel's successful fundraising endeavors in 2022, which saw the company secure over $299 million through its stock market listing.
Notably, prior to the IPO, Abu Dhabi's International Holding Company acquired a 15% stake in Burjeel.
Despite these developments, VPS Healthcare Holdings, led by Chairman Shamsheer Vayalil Parambath, maintains majority ownership of Burjeel, retaining a 70% stake in the company.
This expansion initiative underscores Burjeel Holdings' commitment to delivering high-quality healthcare services and underscores its strategic vision for growth and development in the region.
Source: Brinda Darasha / Zawya
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