Our IPO

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IPO

Timeline

14 September 2022

ITF announcement

6 October 2022

Closing date of the first tranche (retail investors)

10 October 2022

Announcement of final offer price

13 October 2022

Commencement of subscriber refunds

26 September 2022

Subscriptions open and price range announcement

7 October 2022

Closing date of the second tranche (professional investors)

13 October 2022

SMS confirmation to all successful subscribers

14 October 2022

Expected date of listing the shares on ADX

Investment

Highlights

  • The Group focuses on attracting, training and developing the best and most innovative consultants to drive medical advancements in the MENA region, through a unique culture of “physician-led” practices.
  • The Group’s strong clinical team has been responsible for the Group’s growth to date and remains committed to delivering quality and clinical excellence going forward.
  • The Group has been developing highly specialised, complex and personalised services in oncology, orthopaedics and spine, woman care and paediatrics.
  • The Group intends to leverage its clinical expertise and strengths in research and development by entering the education field in 2023 through the opening of a private medical college, the College of Medicine.

  • The UAE and Oman healthcare markets benefit from strong fundamentals and growth drivers which support the Group’s expansion.
  • The UAE and Oman increased their healthcare expenditure from U.S.$12.4 billion and U.S.$2.9 billion, respectively, in 2016, to U.S.$18.0 billion and U.S.$3.5 billion, respectively, in 2021. They are expected to further expand healthcare investments to U.S.$34.0 billion and U.S.$5.3 billion, respectively, by 2031.
  • The group recently announced a Memorandum of Understanding (MoU) with the Kingdom of Saudi Arabia’s Ministry of Investment, which will see Burjeel Holdings seek opportunities to invest up to USD $1.0 billion in KSA by 2030.

  • The Group has a private market leading position in the UAE, with a total bed capacity of 1,660 beds as at 30 June 2022 and 4.8 million out-patients and 104,965 thousand in-patients treated across its network in 2021, representing a UAE private market in-patient market share in 2021 of approximately 17 per cent.
  • The Group’s integrated healthcare network serves patients in Abu Dhabi, Al Ain, Dubai & the Northern Emirates in the UAE, as well as Oman, across all healthcare segments and covers the full socio-economic spectrum through the Group’s five leading brands.
  • The Group operates one of the largest diagnostic networks and orthopedic practices and one of the most comprehensive cancer care facilities in the UAE.

  • The Group has a strong and well-invested medical services portfolio that is built around an integrated “hub and spoke” feeder network across primary, secondary and tertiary segments.
  • The hub and spoke model places the Group’s primary medical centers as the first points of contact (‘spokes’), which then drive referral into the Group’s secondary, tertiary and quaternary care hospitals (‘hubs’)

  • The Group has a track record of strong financial performance and consistent growth that has been driven by its ramp-up of assets launched in recent years and supported by its focus on treating a higher-end patient mix and cost optimisation.
  • For the years ended 31 December 2019, 2020 and 2021, the Group’s revenue was AED 2,420.5 million, AED 2,605.2 million and AED 3,351.0 million, respectively, representing a CAGR of 17.7 per cent.
  • For the years ended 31 December 2019, 2020 and 2021, the Group’s EBITDA was AED 417.9 million, AED 470.2 million and AED 779.1 million, respectively, representing a CAGR of 36.5 per cent.
  • The growth in the Group’s revenue was organic and largely driven by the ramp-up of BMC, Burjeel Hospital, Abu Dhabi and Medeor 24×7 Hospital, Abu Dhabi and supported by the focus on a higher-end patient mix.
  • For the six months ended 30 June 2022, the Group had revenue of AED 1,898.4, EBITDA of AED 414.2 million, and net profit of AED 152.9 million.