It’s the latest example of rapid wealth creation in the Saudi health-care industry, which has already given the kingdom its second-richest person.
Saudi Arabia has long churned out fortunes built on oil and the business surrounding it. That’s changing dramatically as new business empires boom.
“Health care remains a key target for long-term privatization,” said Christine Kalindjian, an analysts at Arqaam Capital, adding that the kingdom aims to become self-sufficient in areas including generic drugs. “Family businesses line up to list stakes.”The health-care industry is one of the main focus areas in the crown prince’s trillion-dollar Vision 2030 plan as the kingdom prepares for a surge in population and longer life expectancy.
The boom is making health care more prominent: With Fakeeh Care Group’s share sale, the industry will account for around 7% of Saudi Arabia’s stock market value, excluding energy giant Saudi Aramco, according to Junaid Ansari, director of investment strategy and research at Kamco Investment Co. And the trend is poised to continue, with the kingdom’s largest medical procurement firm, Nupco, expected to come to the market soon.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
US IPOs to slow after five weeks of $1bn-plus volumeGoldman Sachs CEO and NYSEs president are optimistic about recent listings but caution that the pace may be steady rather than surge through 2024.
Read more »
Overtime cuts for Gauteng doctors threaten hospital service, patients being turned awayOvertime cuts for Gauteng doctors threaten hospital service, patients being turned away
Read more »
Kenyan Doctors End 8-Week Strike After Deal With GovernmentKenyan doctors will report to work starting Friday, after they agreed with the government on how they can be paid their salary arrears.
Read more »
Kenyan Health Sector At Breaking Point in Doctors StrikeKenya's public health sector is at risk of a collapse as a countrywide doctors' strike stretches into the second month with no solution in sight, warns the national doctors' union.
Read more »
Kenya: Can Kenya Fund Doctors' Demands for Better Woking Terms?Kenya's overburdened and underfunded healthcare system has ground to a near halt after about 7,000 medical professionals walked off the job last month to demand better working terms.
Read more »
Double dose: Pietermaritzburg twins graduate as medical doctors with some inspiration from momDouble dose: Pietermaritzburg twins graduate as medical doctors with some inspiration from mom
Read more »