Saudi health care market is set to reach $27bn by 2020

The Kingdom’s health care sector transformation is being guided by the over-arching Saudi Vision 2030 and National Transformation Plan, along with the Ministry of Health’s National Healthcare Project and National e-Health Strategy.
Updated 06 June 2016
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Saudi health care market is set to reach $27bn by 2020

RIYADH: Digital health care innovations are key for supporting Saudi Vision 2030, and the rapidly-growing Saudi health care market is set to reach $27 billion by 2020, say industry experts.

The Kingdom’s health care sector transformation is being guided by the over-arching Saudi Vision 2030 and National Transformation Plan, along with the Ministry of Health’s National Healthcare Project and National e-Health Strategy.
As a result, the Saudi health care market, the largest in the GCC, is set to grow by 69 percent from $16 billion in 2015 to $27 billion by 2020, according to a recent report by Alpen Capital.
Supporting Saudi Vision 2030’s goals for greater private sector health care participation, Dr. Abdul Rahman Al-Mishari Hospital has announced a partnership with global enterprise software company SAP on digital health care solutions.
“Al-Mishari Hospital faced an increasing number of patients and reporting requirements. With the Kingdom’s population and ailments continuing to increase, Al-Mishari Hospital’s partnership with SAP provides data-driven insights to help drive innovation and planning, and support Saudi Vision 2030,” said Mohammed Abdul Rahman Al-Mishari, vice chairman of Dr. Abdul Rahman Al-Mishari Hospital, claimed as the Kingdom’s first and leading private hospital.
The first hospital in the Kingdom running SAP solutions, Al-Mishari Hospital has deployed the in-memory SAP HANA computing platform and SAP Healthcare Information Systems. This real-time digital platform enhances collaboration, operations, and planning and enabling personalized health care solutions such as automated appointments, digital patient records, and telemedicine.
“The Kingdom of Saudi Arabia is at the forefront of health care innovation, with the private sector playing an increasing role in supporting federal health care goals. Al-Mishari Hospital is demonstrating global best practices in using real-time insights to enhance the patient experience and reduce costs,” said Ahmed Al-Faifi, MD, SAP Saudi Arabia.
Khaled Moussa, chairman of Smart Consulting Solutions, the company that will deploy the SAP system, outlined the project’s objectives and scope, saying that the project is of high significance and a top priority, with the aim of installation being prompt and precise.
“We believe that the SAP project is in line with the hospital’s efforts to drive innovation with the latest developments in the global health care sector, and thus achieve its current and future strategic objectives,” said Moussa.
Vice Minister of Health Hamad bin Muhammad Al-Duweila’ recently praised private hospitals, including Al-Mishari Hospital, for supporting the Kingdom’s health care sector.
Demonstrating global best practices, Al-Mishari Hospital has received accreditation from organizations such as Accreditation Canada, American Academy of Continuing Medical Education, American Hospital Association, Joint Commission International, and International Hospital Federation.


UAE’s Network International shrugs off Brexit to list shares in London

Updated 21 March 2019
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UAE’s Network International shrugs off Brexit to list shares in London

  • The planned share sale comes at an uncertain time in the UK
  • The company, which operates hospitals in the Middle East, was said to be also considering listing in the US or Singapore

DUBAI: Network International, the UAE payments processor, has committed to a London IPO next month in what would be the UK’s first big share sale of the year.
The company intends to have a free float of at least 25 percent and admission to the London Stock Exchange is expected to take place in April, Network International said in a regulatory filing on Thursday.
The planned share sale comes at an uncertain time in the UK where there is still no clarity around whether Britain will leave the EU or not at the end of the month.
VPS Healthcare, the Abu Dhabi-based hospital operator, is reconsidering plans to list in London due to uncertainty surrounding Brexit, Bloomberg reported on Thursday citing a person familiar with the matter.
The company, which operates hospitals in the Middle East, was said to be also considering listing in the US or Singapore.
Emirates NBD, Dubai’s biggest bank, owns 51 percent of Network International while Warburg Pincus and General Atlantic jointly own the rest.
The share sale will be a key test of investor demand for new listings in London after a subdued 2018 across most European markets.
“Volatility has continued in recent months, driven by the uncertainty around trade between the US and China, the wider geopolitical climate and the potential end of the current bull run,” said Peter Whelan, partner and UK IPO Lead at PwC in a recent report.
“We are seeing a healthy number of companies preparing for an IPO in 2019 despite the ongoing Brexit negotiations which have clearly impacted IPO activity on the London market.”
The payment processor reported earnings of $298 million last year according to its website, up from $262 million a year earlier. It does not disclose net income figures.
The company handles digital payments across the Middle East, which generate three quarters of its total earnings.
Last year it processed some $40 billion in payments for more than 65,000 merchants.
Its key markets in the region include the UAE and Jordan it says that Saudi Arabia offers “significant opportunities.” It also offers services in 40 African countries with Egypt, Nigeria and South Africa being its most important segments on the continent.