Burjeel Holding enters Saudi market via agreement to establish 60 clinics

UAE healthcare services provider Burjeel Holdings has signed a memorandum of understanding with Leejam Sports Company to establish and operate more than 60 clinics across Saudi Arabia.

The joint venture established via the preliminary agreement, will see Burjeel Holdings and Leejam set up a network of more than 60 physiotherapy, rehabilitation and wellness centers in Leejam clubs across the kingdom. The JV is supported by the kingdom’s sport ministry.

We are proud to announce our entry into KSA with the creation of a joint venture (JV) with Leejam Sports Company (Fitness Time), the largest operator and owner of fitness centers in the GCC region…. pic.twitter.com/CcIqkFSdfg

— Burjeel Holdings (@BurjeelHoldings) February 6, 2023

The centers will offer physiotherapy, restoration, and wellness services, including vitamin infusion, oxychambers and cryotherapy, as well as complementary medicine services. It will also offer medical services for pain, musculoskeletal, and neurological problems.

The JV partnership will be operated through a newly formed company established under Saudi law, with each entity owning a 50 per cent share.

Six centres will be launched in the next quarter across Riyadh city. The services will then be expanded across the Leejam network in the kingdom over the next 12-18 months, the company said in a statement on Monday.

“Our collaboration with Leejam to provide high-quality services in rehabilitation and sports medicine is significant as we commence operations in Saudi, renowned for its love of sports, and especially football,” said Dr Shamsheer Vayalil, founder and chairman of Burjeel Holdings.

“Professional and recreational athletes of all levels and passionate youngsters stand to benefit from comprehensive care, ranging from prevention to rehabilitation, which will be tailored to their specific needs.”

Burjeel Holdings said that it is in advanced discussions to operate and maintain a number of hospital assets in the kingdom, as well as separate potential partnerships in the delivery of specialised medical care.

The healthcare services provider signed a MoU with Saudi Arabia’s Ministry of Investment last year, to plough up to $1bn in the kingdom by 2030, via joint ventures and public-private-partnerships.

Read: UAE’s Burjeel Holdings to expand into Saudi Arabia with $1bn investment

Burjeel Holdings, founded in 2007, operates a network of 61 assets, including 16 hospitals and 23 medical centres, as well as pharmacies and other allied services.

The company listed on the Abu Dhabi Securities Exchange in October last year, offering 11 per cent of the firm’s stake through an initial public offering. The IPO valued the company at Dhs11.6bn at the time.

Read: Healthcare provider Burjeel soars in debut of scaled-down IPO