Dubai: The owner-operator of the Medeor and LLH hospitals, Abu Dhabi-based Burjeel Holdings recorded Dh3.35 billion in revenues for 2021, a total representing an 18 per cent CAGR (compound annual growth rate) over a three-year period. The numbers are significant as Burjeel considers a stock market listing on the ADX.
Profit during 2021 was at Dh234 million. The company lays claim to being the biggest privately-owned healthcare provider in the UAE. “The strategy and decisions we have made along the way have enabled us to achieve the levels of success seen in today’s results,” said Dr Shamsheer Vayalil, CEO and Executive Director of Burjeel Holdings.
“Burjeel Holdings operates 39 hospitals and medical centers across the UAE and Oman, which provide healthcare services for all socio-demographics.” This includes a 400-bed tertiary healthcare facility – Burjeel Medical City - in Mohamed Bin Zayed City, and a category that will likely see faster growth opportunities in the medium-term. “As we continue along our journey of strengthening Burjeel Holdings as an organization, we will develop our brand to position ourselves as a platform to attract top talent that can succeed at the highest levels, helping to further develop our company,” said Vayalil.
IPO calling?
In the recent past, Burjeel had been rated as a top contender from the private sector to go public. The announcement of the 2021 numbers suggest that the company is readying itself for an announcement to this effect. The 39-strong network provides the company heft and its multiple brands – LLH, Medeor, LLH, Lifecare, Tajmeel and Burjeel itself – have become established names in the spaces they occupy.
Burjeel’s 2021 EBITDA was at Dh779 million, representing a margin of over 23 per cent, and offers quite the foundation to scale higher. Apart from the hospitals and clinics, there are also the pharmacies and allied medical services that Burjeel provides.
