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

Seasoned
leadership team

enabling aspirational ESG improvements

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

Burjeel Holdings’ healthcare network operates in the UAE, Oman and KSA healthcare markets, within an addressable market worth $85 billion in 2022 and which is expected to reach a value of $132 billion by 2031.

The market is driven by expected economic growth, favourable demographic trends, notably a growing and ageing population, a high prevalence of non-communicable diseases, as well as an increasing demand for specialized and complex care.

These trends align well with Burjeel’s growth strategy.

$85bn
Addressable
market
19%
Inpatient private
market share in the UAE

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
89
Medical assets
incl. 19 hospitals
AED4.5bn
Investments
spent from 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
+37%
Total ARR
growth 19-23

4: High-growth asset mix with significant utilization runway

Burjeel Holdings’ current infrastructure operates at 61% capacity for inpatients and 72% for outpatients.

At the same time, 75% of the Group’s bed capacity is in medium- and high-growth cycles, leaving a significant utilization runway open for continued growth and improved shareholder value generation.

By 2027, Burjeel Holdings aims to reach at least 80% capacity across the network for both inpatient and outpatient services.

75%
High-Mid
growth asset mix
61%
Bed occupancy rate

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

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

The Group is currently involved in continuing to expand its UAE healthcare infrastructure. Meanwhile, it is entering the high-potential KSA market by launching its premier PhysioTherabia and Specialized Day Surgery centres.

Lastly, Burjeel Holdings leverages its solid pipeline of O&M opportunities in the UAE and the MENA region.

Mid-teens
Group Revenue
Growth (CAGR 24-27)
AED1bn
Revenue upside
from KSA 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.

AED125m
Oracle Health
investments
12%
Share of digital
appointments

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
52%
FCF conversion

8: Seasoned leadership team enabling aspirational ESG improvements

Burjeel Holdings’ experienced leadership has significantly contributed to its continued success, providing crucial direction to the Company’s operations.

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.

Leadership
190+
Total years of experience
70%
Independent Directors