Employees and their families will be issued privilege cards to avail of healthcare services at Burjeel facilities

Employees and their families will be issued privilege cards to avail of healthcare services at Burjeel facilities.

Abu Dhabi: The General Command of Abu Dhabi Police has signed a Memorandum of Understanding (MoU) with Burjeel Holdings to cooperate in the areas of medicine, scientific research, and training and to offer high-quality medical services to the employees of the Abu Dhabi Police.

The MoU was signed on behalf of the General Command of Abu Dhabi Police by Major General Khalifa Mohammed Al Khaili, Director of the Finance and Services Sector, and Dr. Shamsheer Vayalil, Founder and Chairman of Burjeel Holdings.

Major General Al Khaili emphasized the interest of the General Command in fostering partnerships and cooperation with various agencies to improve the exchange of experiences, review the best-advanced practices, and follow up on developments that raise performance to the best levels in accordance with specialized scientific and developmental approaches.

He pointed to Abu Dhabi Police’s continuous efforts to strengthen its strategic partnership with various institutions, explaining that the MoU aims to provide distinguished healthcare services for the employees and their families.

According to the MoU, a privilege card will be issued to the employees of the General Command of Abu Dhabi Police and their families, enabling them to seek treatment in hospitals under Burjeel Holdings in Abu Dhabi, Dubai, Sharjah, and Al Ain.

Dr. Shamsheer said, “We are proud of this valuable partnership as it will add to our significant contributions to the UAE’s healthcare industry. The agreement will guarantee the delivery of the highest levels of advanced healthcare to the beneficiaries in our hospitals. We are also happy to fulfil our social responsibility obligations by providing for and attending to the needs of Abu Dhabi Police employees. We are always keen to provide distinguished services in all specialties through our multiple medical facilities.”

(ENDS)

He suffered damage to his lungs, cardiac arrests, was unable to breathe without oxygen support, and was in a semi-conscious state for six months

Joyous scenes unfolded at Abu Dhabi’s LLH Hospital as colleagues of Arunkumar M. Nair welcomed him back to work after a gap of more than 15 months. It was in July last year that the frontline warrior got infected with Covid-19 and suffered damage to his lungs, cardiac arrests, failure to breathe and was in a semi-conscious state for six months. The operation theatre technician at Burjeel Holdings staged a miraculous recovery, and Nair was discharged in January. However, it took him nine more months to be fully fit, and return to duty after a battle of nearly 450 days against Covid-19 and the recovery phase.

“We are thrilled to welcome back Arunkumar Nair, our frontline warrior who fought Covid-19 bravely and made a remarkable recovery", said John Sunil, CEO, Burjeel Holdings. "We look forward to providing him with continued support as he settles back into work and wish him all success for the future.” Since July last year, Nair was on prolonged extracorporeal membrane oxygenation (ECMO) support and survived multiple cardiac arrests. After his discharge in January, he had hoped to get back to work soon, but was faced with a long road to recovery ahead of him. He was staying in a flat near the hospital, which the company provided to help him access medical support whenever required.

“I wasn’t in great shape. Basic daily activities were a challenge. Even going to the washroom alone was difficult in the first 2-3 months... [but] I had tremendous support from my wife Jenny for everything. It has only been a few months since I have been completely taken off oxygen support and started doing things on my own,” said Nair, a 39-year-old health worker from the Indian state of Kerala. During the recovery period, he also had a fever and long bouts of cough. Nair had a tracheostomy hole from his hospitalisation period that was covered with epithelial tissue, and it was not until a few months ago that doctors deemed him fit enough to undergo a procedure to close the hole.

Dr Tarig Ali Elhassan, specialist cardiac surgery, Burjeel Hospital, Abu Dhabi, who treated Nair, has been a constant source of encouragement. According to Dr Tarig, Nair is a fighter whose grit and determination have helped him recover from a life-threatening illness.

“He has shown great improvement in these last few months. [I'm] happy to see him in better health; healing is an ongoing process and we hope that he will be able to regain his pre-Covid state of health,” he said. Nair turned emotional when he described the support he received from his hospital and Burjeel Holdings. “I received excellent support from the management that has encouraged me to [move] forward. I don’t have [the] words to describe it. With the support and encouragement of the management, doctors, and my colleagues, I am in this position today. They were so considerate that they even arranged for me to be picked up during follow-up appointments.” While he was getting discharged from the hospital last January, his colleagues gathered in the hospital to celebrate his miraculous comeback. In a function arranged by the hospital staff, Burjeel Holdings’ management rewarded him with 5,000,000 Indian rupees. His wife, Jenny, is grateful for the support the family has received from those around them during this challenging period.

“During the months he spent at home, there were times he would feel really low. His colleagues from the hospital visited us at home and encouraged him a lot; he's definitely in a better frame of mind now,” she said. Jenny, a nurse, is waiting for her husband to get settled at work so she too can start working. Their son Arjun has been a ray of light in these tough circumstances. Seeing his son laugh and play daily has brought Nair a lot of positive energy.

“When I was admitted to the hospital, I had a deep desire to put him on my lap and play with him. In these last few months, he has been with me day and night. I consider this to be a big blessing in this difficult time,” Nair said. With Jenny’s help, Nair has started going for daily walks and engaging in light strength training at home. He remains eager to get back into the swing of things.

“The last few months have been a difficult experience mentally. I am certain that my daily activities and work will improve my mental and physical health. Seeing the world getting back to normal by easing restrictions gives me hope. At work, I was someone with a lot of responsibilities. I know I have limitations, but I am eager to take up all my duties again, work with the same zeal, and give it my best effort,” Nair added.

Read Full Story: Khaleej Times

• Burjeel Holdings confirms its intention to offer approximately 550,729,221 shares, representing 11% of issued share capital, in an Initial Public Offering (“IPO”) and to list its shares on the Abu Dhabi Securities Exchange
• The price range has been set between AED 2.00 to AED 2.45 per Share, implying an equity value of $2.7 billion to $3.3 billion
• The subscription period for the offering starts today and runs until Tuesday 4 October 2022 for both Retail and Professional Investors
• The final offer price will be determined through a book building process and is expected to be announced on 5 October 2022
• Listing of Shares and trading on ADX (“Listing”) is anticipated on Monday 10 October 2022

Abu Dhabi, 30 September 2022: Burjeel Holdings PLC (“Burjeel” or the “Company” and, together with its subsidiaries, the “Group”), is a leading MENA private healthcare services provider known for its quality and clinical excellence, operating an integrated network of hospitals and medical centers across the UAE and Oman. Today, Burjeel Holdings PLC announces the offer price range and the opening of the subscription period for its Initial Public Offering (“IPO” or the “Offering”) on the Abu Dhabi Securities Exchange (“ADX”).

DETAILS OF THE OFFERING PRICE RANGE

The opening of the subscription period for the Offering commences today, 30 September 2022, and will continue until Tuesday 4 October 2022 for the First Tranche (offering to individual subscribers and other investors in the UAE, (the “UAE Retail Offering”) and the Second Tranche (“Professional Investors”), as defined in the SCA Board of Directors’ Chairman Decision No.13/R.M of 2021 (as amended from time to time).The price range for the Offering has been set between AED 2.00 to AED 2.45 per share, implying an equity value of $2.7 billion to $3.3 billion. The final offer price is expected to be announced on Wednesday 5 October 2022. Listing of the shares to trading on ADX is expected on Monday 10 October 2022.The Selling Shareholder expects to sell 350,331,555 (three hundred fifty million three hundred thirty-one thousand five hundred and fifty five) shares representing 7 per cent of the Company’s issued share capital, with the Selling Shareholder reserving the right to amend the size of the Offering and the size of any Tranche at any time before the end of the subscription period, subject to applicable laws and the approval of the Securities and Commodities Authority (SCA). The Offering also includes 200,397,665 (two hundred million three hundred ninety seven thousand and six hundred sixty five) new shares to be issued by the Company, representing 4 per cent of the Company’s issued share capital.Assuming all the shares offered are sold, the size of the Offering will be approximately $300 million to $368 million.

SUBSCRIPTION PROCESS

As formally announced on 24 September 2022, the Offering is available to the following subscribers:

• Individuals and Other Investors in the UAE as defined in the prospectus (“UAE Prospectus”) andreferred to as (“First Tranche Subscribers”) and;
• “Professional Investors” as defined in the SCA Board of Directors’ Chairman Decision No.13/R.Mof 2021 (as amended from time to time)), referred to as (“Second Tranche Subscribers”).

The final offer price will be determined through a book building process and is expected to be announced on 5 October 2022. The completion of the Offering and Listing is currently expected to take place on 10 October 2022 subject to market conditions and obtaining relevant regulatory approvals in the UAE, including approval to Listing and Trading on ADX. Allotment notification to First Tranche Subscribers will be sent on 8 October 2022 and refund of surplus investments and dispatch of allotment letters will commence from 10 October 2022.In September 2022, International Holding Company (IHC), a diversified Abu Dhabi-based conglomerate, announced its acquisition of a 15 per cent stake in Burjeel Holdings PLC in order to scale and diversify its local and regional healthcare investments.J.P. Morgan Securities plc (“J.P. Morgan”) is acting as capital markets advisor to the Company and Selling Shareholder in connection with the Offering.Details of the Offering are available in the UAE Prospectus. The UAE Prospectus is available at www.burjeelholdings.com/ipo.

INVESTOR / ANALYST ENQUIRIES

Burjeel Holdings
Chetan Sehgal +971 56 682 0515

MEDIA ENQURIES
Teneo
Andy Parnis +971 58 581 495
Stephen Smith +971 58 546 1588

LEAD MANAGER
Dubai Islamic Bank PJSC

LEAD RECEIVING BANK
First Abu Dhabi Bank PJSC

FINANCIAL ADVISOR
International Securities L.L.C.

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DISCLAIMERS

This announcement does not constitute or form part of any offer or invitation to sell or issue, or any solicitation of any offer to purchase or subscribe for any shares or any other securities nor shall it (or any part of it) or the fact of its distribution, form the basis of, or be relied on in connection with or act as an inducement to enter into, any contract or commitment whatsoever. Investors should not purchase any shares referred to in this announcement except on the basis of information in the Prospectus to be published by Burjeel Holdings in due course in connection with the proposed admission of the Shares to listing and trading on the ADX. The IPO and the distribution of this announcement and other information in connection with the IPO in certain jurisdictions may be restricted by law and persons into whose possession this announcement, any document or other information referred to herein comes should inform themselves about, and observe, any such restrictions. Any failure to comply with these restrictions may constitute a violation of the securities laws of any such jurisdiction.

In particular, this announcement does not contain or constitute an offer of, or the solicitation of an offer to buy or subscribe for, securities to any person in the United States, Australia, Canada, the United Arab Emirates or Japan, or in any jurisdiction to whom or in which such offer or solicitation is unlawful. The securities referred to herein may not be offered or sold in the United States and the offer and sale of the securities referred to herein has not been and will not be registered under the U.S. Securities Act of 1933 or under the applicable securities laws of the United States, Australia, Canada or Japan. There will be no public offer of the securities in any jurisdiction other than the UAE. Copies of this announcement are not being, and should not be, distributed in or sent into the United States, Australia, Canada or Japan.

This announcement does not constitute a recommendation concerning the IPO. The price and value of securities and any income from them can go down as well as up and you could lose your entire investment. Before purchasing any securities in Burjeel Holdings, persons viewing this announcement should ensure that they fully understand and accept the risks which will be set out in the Prospectus prepared for the IPO, when published. There is no guarantee that the IPO will take place and potential investors should not base their financial or investment decisions on the intentions of Burjeel Holdings, the Selling Shareholder or any other person in relation to the IPO at this stage. Potential investors should consult a professional adviser as to the suitability of the IPO for the person(s) concerned.

This announcement contains “forward-looking” statements, beliefs or opinions, including statements with respect to the business, financial condition, results of operations, liquidity, prospects, growth, strategy and plans of Burjeel Holdings, and the industry in which Burjeel Holdings operates. These forward-looking statements involve known and unknown risks and uncertainties, many of which are beyond the Company’s control and all of which are based on the Company’s current beliefs and expectations about future events. Forward looking statements are sometimes identified by the use of forward-looking terminology such as “believes”, “expects”, “may”, “will”, “could”, “should”, “shall”, “risk”, “intends”, “estimates”, “aims”, “plans”, “predicts”, “continues”, “assumes”, “positioned” or “anticipates” or the negative thereof, other variations thereon or comparable terminology or by discussions of strategy, plans, objectives, goals, future events or intentions. These forward-looking statements include all matters that are not historical facts and involve predictions. Forward looking statements may and often do differ materially from actual results. They appear in a number of places throughout this announcement and include statements regarding the intentions, beliefs or current expectations of the directors or Burjeel Holdings with respect to future events and are subject to risks relating to future events and other risks, uncertainties and assumptions relating to the Company’s business, concerning, amongst other things, the results of operations, financial condition, prospects, growth and strategies of Burjeel Holdings and the industry in which it operates.

No assurance can be given that such future results will be achieved; actual events or results may differ materially as a result of risks and uncertainties facing Burjeel Holdings. Such risks and uncertainties could cause actual results to vary materially from the future results indicated, expressed or implied in such forward-looking statements. The forward-looking statements contained in this announcement speak only as of the date of this announcement. Burjeel Holdings, the Selling Shareholder and their respective affiliates expressly disclaim any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained in this announcement to reflect any change in its expectations or any change in events, conditions or circumstances on which such statements are based unless required to do so by applicable law.

J.P. Morgan is not participating in, or managing, any aspect of the Offering (including, without limitation, marketing to investors, the related book-building process, the preparation and publication of the Prospectus (including with respect to the truth, accuracy, completeness or fairness of any information or opinions in such document (or whether any information has been omitted therefrom)), the provision of underwriting services or receiving any part of the subscription monies payable under the Offering).

None of J.P. Morgan or any of its affiliates, or any of their respective directors, officers, employees, advisers, agents, accepts any responsibility or liability whatsoever for, or makes any representation or warranty, express or implied, as to the truth, accuracy, completeness or fairness of the information or opinions in this announcement (or whether any information has been omitted from this announcement) or any other information relating to Burjeel Holdings or associated companies, whether written, oral or in a visual or electronic form, and howsoever transmitted or made available or for any loss howsoever arising from any use of this announcement or its contents or otherwise arising in connection therewith. J.P. Morgan Securities plc is authorised by the Prudential Regulatory Authority and regulated by the Financial Conduct Authority and the Prudential Regulatory Authority in the United Kingdom.

J.P. Morgan is acting exclusively for the Company and the Selling Shareholder and no-one else in connection with the Offering. It will not regard any other person as its client in relation to the Offering and will not be responsible to anyone other than the Company and the Selling Shareholder for providing the protections afforded to its clients, nor for providing advice in relation to the Offering, the contents of this announcement or any transaction, arrangement or other matter referred to herein.

Doctors in the UAE say getting back into healthy sleep patterns is a necessity now as most students gear up to go back to school from Monday. They highlight it's important to have the right amount of focus and energy in the classroom, especially after a two-month break. Dr Supriya Sundaram, Consultant Pulmonology and Sleep Medicine, Burjeel Hospital, Abu Dhabi, says, "During the holiday season, there is usually a loss in the routine of day and night for children. This is especially true in the current scenario when screen time is prolonged. Many children are addicted to the phone or the tab and tend to sleep later and later into the night, causing them to wake up later during the day. The routine of school is lost completely."

"After the holidays, it takes at least one week to reset this irregular timing. A child usually needs a minimum of six to seven hours of sleep. Therefore, children are asked to sleep early, so they can wake up early. Otherwise, they will not get the minimum hours of sleep needed before school." Healthcare professionals reiterate getting enough sleep is also crucial when it comes to a child's health. Reading stories, singing songs or having a chat together can help develop proper school-year sleep routines.

Some tips for children to sleep well before they return to school include:

1. The meal timings need to go back to the original schedule. Give children an early dinner so they can go to bed early.

2. Cut screentime. Children should not be allowed to use electronic devices like tabs and phones beyond 7pm, so they have an hour or so without devices before bedtime.

3.They also need to be organised so that the stress levels are less on the first day of school. Keeping their books, clothes, and bags ready would be helpful.

4. There should be a focus on health and cleanliness in the week before school reopens as this would help them sleep better.

Read Full Story: Khaleej Times

Abu Dhabi, United Arab Emirates, 10 November 2022: Burjeel Holdings PJSC (“Burjeel” or “the Group”), a leading Healthcare Services Provider in the UAE and MENA listed on the Abu Dhabi Securities Exchange (“ADX”) under (SYMBOL: BURJEEL) (ISIN: AEE01119B224), today announced its financial results for the nine-month period ended 30 September 2022 (“9M 2022”).

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9M 2022 Highlights

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Dr. Shamsheer Vayalil, Chairman of Burjeel Holdings, commented:

“Fifteen years ago we set out with a vision to make world-class healthcare accessible to everyone in the UAE. We are committed and proud to deliver on that vision, which is reflected in the robust growth in patient footfall and our strong results in the period. Having recently added AED 2.2 billion liquidity to the business through our landmark IPO on ADX, which was used to repay existing debt, Burjeel Holdings is in its strongest ever position to deliver bold and innovative projects, unlock new markets, explore M&A opportunities and deliver exponential growth across the business.”

John Sunil, Chief Executive Officer of Burjeel Holdings, added:

“Our results demonstrate our ability to deliver on our key strategic priorities, including our focus on elevating the utilization of our assets and growing the contribution of complex, super specialty medicine. We have invested significantly in areas of high-yield medical care, including oncology and transplants, where we see both strong domestic and international demand. Revenue and EBITDA increased significantly across our facilities, particularly at our flagship hospital Burjeel Medical City, where we saw triple-digit revenue growth and generated positive EBITDA. Equally, our ability to serve all patients across different socio-demographic groups through the diagnosis and treatment journey, from our medical centers through to hospitals, day care facilities and pharmacies, continues to drive loyalty to the Burjeel Holdings family of brands.”

Positive nine-month results

Burjeel Holdings reported a positive performance in the first nine months of 2022 with growth continuing throughout the year. Revenue for 9M 2022 was AED 2,831.6 million, an increase of 17.8% year-on-year, driven by utilization gains in the Hospitals and Medical Centers segments, where revenues increased by 18.8% and 9.1% respectively.

Group EBITDA increased by 13.2% year-on-year to AED 608.4 million in 9M 2022, delivered at a stable margin of 21.5% despite Burjeel Medical City and other high-growth facilities recruiting and onboarding additional doctors and investing in their facilities to drive further, future yield.

Burjeel Medical City utilization drives record Hospital revenues

Revenue from the Hospitals segment made up 88.2% of the Group’s total revenue in the period, consistent with the prior year. 

Burjeel’s flagship hospital asset, Burjeel Medical City (BMC), delivered exceptionally strong growth in the 9M 2022 period, with revenue increasing by 145.6% to AED 524.5 million, as outpatient capacity utilization increased to 27.6% and inpatient bed occupancy reached 35.9%. BMC, which was opened in 2020 and is the UAE’s largest private hospital, contributed 20% of the Group’s Hospitals segment revenue in the period.  

As the Group’s only Quaternary Care hospital, BMC is focused on super specialty care, including oncology, organ transplants and pediatrics. BMC completed its first kidney transplant this year and was internationally recognized for its successful and innovative treatment of a rare case of Cepacia Syndrome. BMC has established a leading position in the delivery of complex care for domestic patients and a small but increasing number of medical tourists seeking out its services. 

With more than 400 beds, BMC was constructed with ample capacity to grow in high-yield, super specialty areas of medical care. The Group’s targeted recruitment of world-leading consultants is driving significant growth at BMC. 

Burjeel’s interconnected growth model continues to deliver value

The Group’s nine-month results demonstrate the value in the group’s ‘Hub & Spoke’ model, with its 23 medical centers strategically located in communities which drive footfall to its network of 16 hospitals across the UAE. Overall Group patient footfall increased by 20.4%, reflecting the success of its business model, the ongoing ramp up of its hospital growth assets and the introduction of new services, including oncology, cardiology and gastroenterology, across several key hospitals.  

Refreshed leadership teams to drive post-listing growth 

In September, Burjeel Holdings confirmed changes to its executive leadership team and established a new highly-qualified Board of Directors and Medical and Clinical Advisory Committee. These changes were made ahead of the Group’s IPO, which successfully completed with the listing of Burjeel Holdings on ADX on 10 October, 2022. 

The Group’s Founder Dr Shamsheer Vayalil was appointed Chairman of Burjeel Holdings, with John Sunil taking on the role of Group CEO. John Sunil joined Burjeel Holdings more than a decade ago and most recently held the position of Regional Chief Executive of the Burjeel and Medeor brands. 

Balance Sheet & Cashflow 

Group Net Debt reduced by 42.5% in 9M 2022, with interest bearing loans and borrowings decreasing by 34.1% in the period. The Group’s Net Debt / Pre-IFRS 16 EBITDA was 2.5x as at 30 September 2022, prior to the completion of its IPO and further reductions in debt post-period. Burjeel’s strategic focus remains on improving asset utilization and patient yield over any immediate network expansion. 

Financial Overview

(9M 2022 = Nine month period to 30 September 2022)

AED millions	9M 2022	9M 2021	Change
Revenue	2,831.6	2,404.1	17.8%
EBITDA	608.4	537.3	13.2%
EBITDA Margin %	21.5	22.3	(0.8)bp
Net Profit for the Period	205.1	126.8	61.7%
Net Profit Margin %	7.2	5.3	1.9bp
AED millions	As at 30 Sept 22	As at 31 Dec 21	Change%
Interest Bearing Loans and Borrowings	2,115	3,208	(34.1)
Net Debt	1,821	3,165	(42.5)

Results by Operating Segments 

Revenue (AED millions)	9M 2022	9M 2021	Change%
Hospitals	2,498.5	2,102.4	18.8
Medical Centers	276.2	253.2	9.1
Pharmacies	48.7	45.3	7.4
Other	8.2	3.1	161.5
Total Revenue	2,831.6	2,404.1	17.8

EBITDA (AED millions)	9M 2022	9M 2021	Change%
Hospitals	508.1	438.8	15.8
Medical Centers	76.3	67.1	13.8
Pharmacies	3.7	9.4	(60.9)
Other	20.3	22.1	(7.9)
Total EBITDA	608.4	537.3	13.2

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About Burjeel Holdings 

Founded in 2007, Burjeel Holdings is one of the leading private healthcare services providers in the MENA region. With a network of 61 assets, including 16 hospitals and 23 medical centers, as well as pharmacies and other allied services, the group provides the highest standard of patient care in the region. Burjeel Holdings’ brands include Burjeel Hospitals, Medeor Hospitals, LLH Hospitals, Lifecare Hospitals, and Tajmeel. It has 12 JCI-accredited facilities, with a total 1,660 patient beds across its operations in UAE and Oman, and holds a leading position in the UAE. The Group has comprehensive cancer care facilities in the UAE, and is the country’s leading mother and child care provider. 

Contacts

Media:   Stephen Smith SVP – Teneo burjeelholdings@teneo.com   M: +971 58 546 1588

Investor Relations:   Chetan Sehgal Head of Investor Relations – Burjeel Holdings ir@burjeelholdings.com  M: +971 56 682 0515

• Listing of a 11% stake on main market of ADX will provide investors with the opportunity to invest in one of the MENA region’s leading private sector healthcare providers 
• Announcement builds on International Holding Company’s (“IHC”) acquisition of a 15% stake in Burjeel Holdings 
• Subscription period for institutional and retail investors will open on Friday 30 September 2022 and close on Tuesday 4 October 2022

Abu Dhabi, 26 September 2022:  Burjeel Holdings plc (“Burjeel Holdings” or the “Company”), today announced its intention to list 11 per cent of its share capital on the main market of the Abu Dhabi Securities Exchange (“ADX”). The Company’s planned listing will provide investors with an opportunity to gain exposure to one of MENA’s leading private healthcare service providers with a vision to ensure quality healthcare and clinical excellence across the region. The subscription period for the listing will open on Friday 30 September and close on Tuesday 4 October. The Company intends to list on ADX on Monday 10 October. 

The Company intends to offer 200,397,665 new shares (the “New Shares”) and VPS Healthcare Holdings PVT. LTD (the “Selling Shareholder”) intends to offer up to 350,331,555 existing shares (the “Sale Shares” and, together with the New Shares, the “Shares”) in the Company’s issued share capital (the “Offering”). If all of the Shares are subscribed for and allocated and the offer size is not increased, the total offer size is currently expected to be 11 per cent of the enlarged issued share capital of the Company.

Of the offered Shares, 10 per cent are to be allocated under the First Tranche (as defined in the prospectus to be issued in connection with the IPO (the “Prospectus”)) and 90 per cent are to be allocated under the Second Tranche (as defined in the Prospectus).

Burjeel Holdings (together with its subsidiaries, the “Group”) is one of the largest private healthcare providers in the UAE and Oman, providing a comprehensive healthcare ecosystem to patients across the full socio-economic spectrum through its key market leading brands, Burjeel, Medeor, LLH, Lifecare and Tajmeel. Across its brands it operates a fully-funded network of 16 hospitals, 23 medical centres (including polyclinics and specialty medical centres with dental, cosmetic, homecare services, a specialised orthopaedics centre and IVF centres) and 15 pharmacies, as well as seven entities conducting allied services such as central procurement (e.g., GPO), revenue cycle management, centralised diagnostics, central warehousing and patient valet parking services.

In 2021, the Group treated 105 thousand in-patients and 4.8 million out-patients across its network, which includes comprehensive service offerings for oncology, women and child, orthopaedics and spine, cardiac science and bariatrics, representing an in-patient market share of approximately 17 per cent and an out-patient market share of approximately 12 per cent as at 30 June 2022. 

For the year ended 31 December 2021 and the six months ended 30 June 2022, the Group had revenues of AED 3,351.0 million and AED 1,898.4 million, EBITDA of AED 779.1 million and AED 414.2 million, and net profits of AED 234.1 million and AED 152.9 million, respectively.

Commenting on the planned listing, Dr. Shamsheer Vayalil Parambath, Chairman of Burjeel Holdings plc, said:

“I am delighted to announce our intention to list on ADX providing a unique opportunity for investors to participate in an Abu Dhabi, UAE and MENA growth story. Our long-term vision focused on increasing access to quality healthcare and clinical excellence across the region has driven our growth over the past 15 years and today we are one of the leading private healthcare services platforms in the UAE with an unmatched patient offering and diversified portfolio of 16 hospitals, including our flagship facility Burjeel Medical City, and 23 medical centres, across the UAE and Oman.

“Today’s announcement builds on our partnership with IHC which will have a transformative impact for Burjeel Holdings through the addition of new capabilities, capital, and access to new markets. As healthcare expenditure continues to increase across the region, Burjeel Holdings is strongly positioned to benefit through our focus on providing complex, specialized medicine for all socioeconomic groups, through a targeted, multi-brand strategy. Our strength is reflected in our strong and profitable financial performance, where we recorded compound annual revenue growth of 18% between 2019-2021 and EBITDA growth of 37%. 

“As we mark another significant milestone in our journey today, I’m confident that our robust business model, relentless focus on clinical excellence, world-class people and strong commitment to governance will all play key roles in the next chapter of our story.”

The Group intends to pay cash dividends from 2023 onwards, on the expected basis of a pay-out ratio of 40 to 70 per cent. of net income, dependent on the required investment for additional growth plans. In the absence of any attractive investment opportunities that meet the Group’s investment criteria and return thresholds, the Group will distribute dividends at the upper end of the pay-out ratio range or potentially higher. The first interim dividend is expected to be paid in the second half of 2023 on the basis of net income for the first half of 2023.

In September 2022, International Holding Company (IHC), a diversified Abu Dhabi-based conglomerate, announced its acquisition of a 15 per cent stake in Burjeel Holdings in order to scale and diversify its local and regional healthcare investments. 

In August 2022, as part of its disciplined approach to capital expenditure and regional expansion, the Burjeel Holdings signed a non-binding Memorandum of Understanding with the Kingdom of Saudi Arabia’s Ministry of Investment, which will see the Group collaborate with KSA institutes and healthcare organizations, and invest up to USD 1 billion in the Kingdom by 2030. 

J.P. Morgan Securities plc (“J.P. Morgan”) is acting as capital markets advisor to the Company and Selling Shareholder in connection with the Offering.

The Prospectus and detailed information about Burjeel Holdings, its IPO and the subscription process can be found at https://www.burjeelholdings.com/ipo.

About Burjeel Holdings

Founded in 2007, Burjeel Holdings is one of the leading private healthcare services providers in the UAE with a growing presence in Oman and the GCC. With a network of 61 assets, including 39 hospitals and medical centers, as well as pharmacies and other allied services, the Group provides the highest standard of patient care in the region. Burjeel Holdings’ brands include Burjeel Hospitals, Medeor Hospitals, LLH Hospitals, Lifecare Hospital, and Tajmeel. It has 12 JCI accredited facilities, with a total 1,660 patient beds across its operations in UAE and Oman and holds a leading position in the UAE. The Group has comprehensive cancer care facilities in the UAE and is the country’s leading mother and children’s healthcare provider.

The Group continues to set new benchmarks for healthcare in the region with state-of-the-art facilities and world-class service standards. With a team of highly experienced, world-class practitioners, Burjeel Holdings is committed to driving innovation and bringing the latest advances in global healthcare to the region.

INVESTOR / ANALYST ENQUIRIES

Burjeel Holdings
Chetan Sehgal +971 56 682 0515

MEDIA ENQURIES
Teneo
Andy Parnis +971 58 581 495
Stephen Smith +971 58 546 1588

LEAD MANAGER
Dubai Islamic Bank PJSC

LEAD RECEIVING BANK
First Abu Dhabi Bank PJSC

FINANCIAL ADVISOR
International Securities L.L.C.

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DISCLAIMERS

This announcement does not constitute or form part of any offer or invitation to sell or issue, or any solicitation of any offer to purchase or subscribe for any shares or any other securities nor shall it (or any part of it) or the fact of its distribution, form the basis of, or be relied on in connection with or act as an inducement to enter into, any contract or commitment whatsoever. Investors should not purchase any shares referred to in this announcement except on the basis of information in the Prospectus to be published by Burjeel Holdings in due course in connection with the proposed admission of the Shares to listing and trading on the ADX. The IPO and the distribution of this announcement and other information in connection with the IPO in certain jurisdictions may be restricted by law and persons into whose possession this announcement, any document or other information referred to herein comes should inform themselves about, and observe, any such restrictions. Any failure to comply with these restrictions may constitute a violation of the securities laws of any such jurisdiction.

In particular, this announcement does not contain or constitute an offer of, or the solicitation of an offer to buy or subscribe for, securities to any person in the United States, Australia, Canada, the United Arab Emirates or Japan, or in any jurisdiction to whom or in which such offer or solicitation is unlawful. The securities referred to herein may not be offered or sold in the United States and the offer and sale of the securities referred to herein has not been and will not be registered under the U.S. Securities Act of 1933 or under the applicable securities laws of the United States, Australia, Canada or Japan. There will be no public offer of the securities in any jurisdiction other than the UAE. Copies of this announcement are not being, and should not be, distributed in or sent into the United States, Australia, Canada or Japan.

This announcement does not constitute a recommendation concerning the IPO. The price and value of securities and any income from them can go down as well as up and you could lose your entire investment. Before purchasing any securities in Burjeel Holdings, persons viewing this announcement should ensure that they fully understand and accept the risks which will be set out in the Prospectus prepared for the IPO, when published. There is no guarantee that the IPO will take place and potential investors should not base their financial or investment decisions on the intentions of Burjeel Holdings, the Selling Shareholder or any other person in relation to the IPO at this stage. Potential investors should consult a professional adviser as to the suitability of the IPO for the person(s) concerned.

This announcement contains “forward-looking” statements, beliefs or opinions, including statements with respect to the business, financial condition, results of operations, liquidity, prospects, growth, strategy and plans of Burjeel Holdings, and the industry in which Burjeel Holdings operates. These forward-looking statements involve known and unknown risks and uncertainties, many of which are beyond the Company’s control and all of which are based on the Company’s current beliefs and expectations about future events. Forward looking statements are sometimes identified by the use of forward-looking terminology such as “believes”, “expects”, “may”, “will”, “could”, “should”, “shall”, “risk”, “intends”, “estimates”, “aims”, “plans”, “predicts”, “continues”, “assumes”, “positioned” or “anticipates” or the negative thereof, other variations thereon or comparable terminology or by discussions of strategy, plans, objectives, goals, future events or intentions. These forward-looking statements include all matters that are not historical facts and involve predictions. Forward looking statements may and often do differ materially from actual results. They appear in a number of places throughout this announcement and include statements regarding the intentions, beliefs or current expectations of the directors or Burjeel Holdings with respect to future events and are subject to risks relating to future events and other risks, uncertainties and assumptions relating to the Company’s business, concerning, amongst other things, the results of operations, financial condition, prospects, growth and strategies of Burjeel Holdings and the industry in which it operates.

No assurance can be given that such future results will be achieved; actual events or results may differ materially as a result of risks and uncertainties facing Burjeel Holdings. Such risks and uncertainties could cause actual results to vary materially from the future results indicated, expressed or implied in such forward-looking statements. The forward-looking statements contained in this announcement speak only as of the date of this announcement. Burjeel Holdings, the Selling Shareholder and their respective affiliates expressly disclaim any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained in this announcement to reflect any change in its expectations or any change in events, conditions or circumstances on which such statements are based unless required to do so by applicable law.

J.P. Morgan is not participating in, or managing, any aspect of the Offering (including, without limitation, marketing to investors, the related book-building process, the preparation and publication of the Prospectus (including with respect to the truth, accuracy, completeness or fairness of any information or opinions in such document (or whether any information has been omitted therefrom)), the provision of underwriting services or receiving any part of the subscription monies payable under the Offering).

None of J.P. Morgan or any of its affiliates, or any of their respective directors, officers, employees, advisers, agents, accepts any responsibility or liability whatsoever for, or makes any representation or warranty, express or implied, as to the truth, accuracy, completeness or fairness of the information or opinions in this announcement (or whether any information has been omitted from this announcement) or any other information relating to Burjeel Holdings or associated companies, whether written, oral or in a visual or electronic form, and howsoever transmitted or made available or for any loss howsoever arising from any use of this announcement or its contents or otherwise arising in connection therewith. J.P. Morgan Securities plc is authorised by the Prudential Regulatory Authority and regulated by the Financial Conduct Authority and the Prudential Regulatory Authority in the United Kingdom.

J.P. Morgan is acting exclusively for the Company and the Selling Shareholder and no-one else in connection with the Offering. It will not regard any other person as its client in relation to the Offering and will not be responsible to anyone other than the Company and the Selling Shareholder for providing the protections afforded to its clients, nor for providing advice in relation to the Offering, the contents of this announcement or any transaction, arrangement or other matter referred to herein.