Dr Moopen’s Group will invest $250 million (Dh918m) – half in the GCC – in the healthcare service industry to expand its network across the Middle East and India by 2012, its chairman said.
The third largest healthcare provider in the UAE is currently celebrating its 20th anniversary. It operates clinics, pharmacies, diagnostic centres and hospitals, including Al Rafa chain and Medcare hospital in the UAE.
Azad Moopen (pictured above), Chairman of the group, has announced the firm plans a major expansion from the Subcontinent across the GCC. He added that family-owned business also has plans to issue an IPO on the Dubai Financial Market once its business has reached the critical Dh1 billion annual revenue threshold. “We have a long-term plan that will cater to the requirements in Middle East as well as the Subcontinent.”
He added the group’s business ventures in the UAE are growing by 30 per cent a year. “Our growth during the past five years has been very brisk. The group has about 3,200 staff in the GCC and India in 42 facilities and are looking at expanding to 100.”
A five-year roadmap for the expansion plan in the Gulf, including 10 new hospitals, clinics and pharmacies in the GCC has already been drawn up, said Wilson TJ, general manager, finance and administration, Dr Moopen’s Group. Under the plan, Dh60m hospitals will be built in Abu Dhabi, Sharjah and Ajman. Meanwhile, 10 hospitals are planned for India, three for Saudi Arabia and one each for Kuwait, Bahrain and Qatar.