Investment Case

Burjeel Holdings is a leading private healthcare services provider in MENA with a compelling growth story. The Group boasts one of the largest healthcare networks in the UAE and has significant utilization headroom across its assets. Our leading practice, diagnostics, and research provide complex care for the whole community.

We are focusing on developing high-yield and highly complex care areas, leveraging and enabling the strength of our unique multi-brand portfolio. With our state-of-the-art infrastructure of high-growth assets and an expansive referral network, Burjeel Holdings remains uniquely positioned to deliver on its value-creation strategy of increasing patient yield and utilization while unlocking strategic expansion opportunities across the Gulf.

1

Established leader

in large, growing and resilient addressable market

2

Well-invested multi-brand network

covering the full socio-economic spectrum

3

World-class super-specialty care

proposition enabling patient yield growth

4

High-growth
asset mix

with significant utilization runway

5

Expanding geographically

through high-return and low-CAPEX opportunities

6

Accelerating digitization

to drive operational and medical excellence

7

Cash-generative business model

committed to delivering consistent shareholder return

8

Commitment to ESG

with low-risk rating & outstanding governance

1: Established leader in large, growing, and resilient addressable market

Burjeel Holdings is the UAE’s leading private healthcare provider and is well positioned to capture growth opportunities in Saudi Arabia and across the wider GCC, within an addressable healthcare market valued at $99 billion in 2023 and projected to reach $159 billion by 2029.

The Group benefits from strong healthcare demand driven by demographic trends, the rising prevalence of chronic diseases and growing medical tourism, supported by progressive regulatory frameworks encouraging private sector participation.

$99bn
GCC market size
(2023)
21%
Burjeel Holdings private hospital market share in the UAE (2023)

2: Well-invested multibrand network covering the full socioeconomic spectrum

Burjeel Holdings’ well-invested and full-scale hub-and-spoke model enables the Group to capture value across the entire patient pathway through multiple touchpoints, driving revenue, brand engagement and Group loyalty.

Burjeel Holdings has established a unique suite of branded healthcare facilities catering to the whole community, including high-income Emiratis and local expats of varying incomes.

This allows the Group to maximise its potential to drive shareholder value.

Our Brands
115
Healthcare assets
incl. 20 hospitals
AED4.5bn
Capital investment
since inception

3: World-class super-specialty care proposition enabling patient yield growth

Burjeel Holdings has established an industry-leading capability to provide its patients with world-class complex medical care as an integral part of its strategy.

Focusing on key specialities, investing in subspecialties, and providing complex treatments drive patient yields and improve profitability.

By introducing Burjeel Medical City as a super-speciality unit, the Group is expected to increase its yields through its tertiary and quaternary offerings.

Complex Medical Care
30%
Revenue from
super-specialty care
AED50k–1m
Complex procedure
price range

4: High-growth asset mix with significant utilization runway

Burjeel Holdings’ current infrastructure operates at approximately 67% capacity across inpatient and outpatient services.

Around 60% of the Group’s hospitals remain in the growth phase and currently operate below typical peak occupancy levels of 80%—85%, indicating significant capacity for volume expansion as these assets mature.

The Group aims to increase network utilization to at least 80% across both inpatient and outpatient services in the medium term.

60%
Hospitals
in growth stage
67%
Bed occupancy rate

5: Expanding geographically through high-return and low-CAPEX opportunities

Burjeel Holdings’ expansion strategy covers several approached to unlock solid growth potential and improve its value proposition.

The Group is deepening its UAE presence through community-based expansion, accelerating regional growth with disruptive, high-demand offerings in Saudi Arabia, and scaling a de-risked, CAPEX-light O&M platform across the Gulf and Africa.

+18
Healthcare assets
added in mid-term
AED1.5bn
Mid-term revenue
from expansion

6: Accelerating digitization to drive operational and medical excellence

Burjeel Holdings continues integrating new digital technologies across its network to benefit all its stakeholders, transform the patient experience and improve operational efficiency.

The Group’s focus on digital transformation promotes investor attractiveness by improving patient outcomes and facilitating more excellent patient acquisition through its omnichannel communication platform.

100%
Oracle Cerner
integration by 2027
100%
Revenue cycle
automation via AI (2025)

7: Cash-generative business model committed to delivering consistent shareholder return

Based on four interconnected pillars, Burjeel Holdings’ proven cash-generative business model has delivered impressive financial results underpinned by operational excellence.

This approach’s success results in robust margin expansion drivers, compelling asset economics, and strict capital discipline.

Business Model
40-70%
Dividend payout ratio
>40%
FCF conversion

8: Commitment to ESG with low-risk rating & outstanding governance

The Group’s new long-term ESG strategy aims to position Burjeel Holdings as an ethical leader in the healthcare industry with solid commitments to service and operational excellence, ensuring the best patient care while promoting a sustainable and healthy work environment for its employees.

The Group also upholds strong governance, transparency, and accountability to foster patient trust, reflected in its Sustainalytics ‘Low-Risk’ ESG Rating.

Leadership
19.7
‘Low ESG Risk’
Sustainalytics rating
4 out of 7
Independent
directors