Arab Health 2024 opens with a twist as the booming home market triggers growing interest in investing in the global healthcare sector, including the state-dominated UK NHS, which will be showcased at this week's event.
While domestic healthcare markets are rapidly developing within Gulf Co-operation Council countries, cash-rich investment funds are looking to life sciences, pharmaceutical and healthcare assets in the UK, the US and Europe.
Current Health Expenditure (CHE) in the GCC is projected to reach $135.5 billion in 2027, an increase of 5.4 per cent from 2022, according to Aspen Capital.
Jonathan Evans, director at the Association of British HealthTech Industries, noted the significant investments coming from GCC countries into Britain.
“In UK HealthTech alone, there are in the region of 4,500 companies. Add to that the thousands of pharmaceutical businesses and ancillary healthcare companies, and you have a huge ecosystem that will be looking for investment, so I would imagine we will see plenty more deal-making in the years ahead,” he told The National.
At the same time, the growth in the number of people choosing private health care over NHS treatment has ballooned as waiting lists lengthened in the wake of the Covid pandemic.
“NHS waits, increasing media coverage around patients choosing private options and treatment restrictions have driven wider interest in private health care, and the independent sector has seen higher volumes of patients willing to pay privately year on year,” said Liz Heath in a report for the healthcare business advisory firm LaingBuisson.
“Forward projections are always difficult to make, but based on the recent growth trajectory, all indicators are that self-pay growth will continue.”
Mr Evans feels the UK government has taken some encouraging steps to enable foreign investment to find a home in Britain's life sciences and healthcare sectors.
“The direction of travel is therefore very positive, and the opportunities are clear,” he said.
“The UK has a very strong science base, and is a genuine world leader within research, but where we could see improvements in terms of support is through the help that is available to scale these brilliant scientific ideas to better equip UK companies for growth.”
Gateway connecting East and West
This spectacular growth in health care in the GCC is mainly centred in the UAE and Saudi Arabia, with the two countries expected to make up almost 80 per cent of CHE in the region by 2027.
“The GCC region continues to stand out as a pivotal hub for the pharmaceutical and healthcare sectors in the Middle East, especially over the next decade,” Mohamed Abu Shawish, cluster general manager for the GCC at the Japanese drug maker Kyowa Kirin Pharma, told The National.
“Furthermore, the GCC’s strategic geographic location offers a gateway to connect East and West, making it an ideal hub for global companies.”
The Covid pandemic acted as the catalyst for the rapid expansion of the healthcare sector in the GCC region, sparking strong growth from automation and data-driven precision medicine to government reforms.
In a $1.2 billion deal, PureHealth bought Circle Health, a group that operates 53 private hospitals in the UK.
The PureHealth deal really illustrated the ambitions held by many healthcare companies and investment funds across the GCC.
“This acquisition is more than an expansion; it’s a significant stride towards establishing PureHealth as a global healthcare platform,” managing director of PureHealth Farhan Malik said at the time.
“This move aligns with our vision of pioneering a healthier future for all and underscores our commitment to elevating the global position of Abu Dhabi in the healthcare sector and revolutionising healthcare services globally.”
'Huge ecosystem'
The opportunities for investment into the UK healthcare sector often happen at the “edges” of Britain's NHS, said Mr Evans.
Former British political leaders Tony Blair and William Hague last week issued a joint call to put countries “unmatched wealth” of national health data to work to harness the global artificial intelligence revolution in health care.
“We propose establishing an NHS Data Trust, with a controlling stake owned by the NHS and additional investments from companies,” the report said.
“While strictly preserving privacy and preventing misuse, this structure would permit health data to be of massive benefit to research, public health and patient treatment.”
The report said the NHS could provide anonymised data to research entities, including biotech companies, in return for payment. This would place the UK at the frontier of global research.
Private equity groups have already bought up dozens of British healthcare companies, from eye-care clinics to diagnostics firms to ambulance fleets.
Arab Health 2024
The growth of healthcare in the GCC, as well as the burgeoning relationships being forged with life sciences, pharmaceutical and healthcare companies overseas will be illustrated at the Arab Health 2024 conference at the World Trade Centre in Dubai this week.
Almost 4,000 delegates from more than 180 countries will exchange views and ideas, make contact and do business at the event. Last year, $1.81 billion in business was done at the show.
“It provides an excellent opportunity for innovative companies, and healthcare providers, to drive investment between the GCC and the UK,” Mr Evans said.
“For us, it is all about creating that space to showcase UK healthcare expertise and quality, and how these solutions can benefit patients not just in the GCC, but around the world.”
Countries recognising Palestine
France, UK, Canada, Australia, Portugal, Belgium, Malta, Luxembourg, San Marino and Andorra
Tonight's Chat on The National
Tonight's Chat is a series of online conversations on The National. The series features a diverse range of celebrities, politicians and business leaders from around the Arab world.
Tonight’s Chat host Ricardo Karam is a renowned author and broadcaster who has previously interviewed Bill Gates, Carlos Ghosn, Andre Agassi and the late Zaha Hadid, among others.
Intellectually curious and thought-provoking, Tonight’s Chat moves the conversation forward.
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Emergency
Director: Kangana Ranaut
Stars: Kangana Ranaut, Anupam Kher, Shreyas Talpade, Milind Soman, Mahima Chaudhry
Rating: 2/5
Who was Alfred Nobel?
The Nobel Prize was created by wealthy Swedish chemist and entrepreneur Alfred Nobel.
- In his will he dictated that the bulk of his estate should be used to fund "prizes to those who, during the preceding year, have conferred the greatest benefit to humankind".
- Nobel is best known as the inventor of dynamite, but also wrote poetry and drama and could speak Russian, French, English and German by the age of 17. The five original prize categories reflect the interests closest to his heart.
- Nobel died in 1896 but it took until 1901, following a legal battle over his will, before the first prizes were awarded.
COMPANY%20PROFILE
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BMW M5 specs
Engine: 4.4-litre twin-turbo V-8 petrol enging with additional electric motor
Power: 727hp
Torque: 1,000Nm
Transmission: 8-speed auto
Fuel consumption: 10.6L/100km
On sale: Now
Price: From Dh650,000
UAE currency: the story behind the money in your pockets
Our family matters legal consultant
Name: Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.
The advice provided in our columns does not constitute legal advice and is provided for information only. Readers are encouraged to seek independent legal advice.
The National's picks
4.35pm: Tilal Al Khalediah
5.10pm: Continous
5.45pm: Raging Torrent
6.20pm: West Acre
7pm: Flood Zone
7.40pm: Straight No Chaser
8.15pm: Romantic Warrior
8.50pm: Calandogan
9.30pm: Forever Young
'Munich: The Edge of War'
Director: Christian Schwochow
Starring: George MacKay, Jannis Niewohner, Jeremy Irons
Rating: 3/5
Read more about the coronavirus
In numbers: China in Dubai
The number of Chinese people living in Dubai: An estimated 200,000
Number of Chinese people in International City: Almost 50,000
Daily visitors to Dragon Mart in 2018/19: 120,000
Daily visitors to Dragon Mart in 2010: 20,000
Percentage increase in visitors in eight years: 500 per cent
UAE currency: the story behind the money in your pockets
WITHIN%20SAND
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Company%20profile
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BULKWHIZ PROFILE
Date started: February 2017
Founders: Amira Rashad (CEO), Yusuf Saber (CTO), Mahmoud Sayedahmed (adviser), Reda Bouraoui (adviser)
Based: Dubai, UAE
Sector: E-commerce
Size: 50 employees
Funding: approximately $6m
Investors: Beco Capital, Enabling Future and Wain in the UAE; China's MSA Capital; 500 Startups; Faith Capital and Savour Ventures in Kuwait
UAE currency: the story behind the money in your pockets
AI traffic lights to ease congestion at seven points to Sheikh Zayed bin Sultan Street
The seven points are:
Shakhbout bin Sultan Street
Dhafeer Street
Hadbat Al Ghubainah Street (outbound)
Salama bint Butti Street
Al Dhafra Street
Rabdan Street
Umm Yifina Street exit (inbound)
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MATCH INFO
Arsenal 1 (Aubameyang 12’) Liverpool 1 (Minamino 73’)
Arsenal win 5-4 on penalties
Man of the Match: Ainsley Maitland-Niles (Arsenal)
The Vile
Starring: Bdoor Mohammad, Jasem Alkharraz, Iman Tarik, Sarah Taibah
Director: Majid Al Ansari
Rating: 4/5
Normal People
Sally Rooney, Faber & Faber
Everton 1 Stoke City 0
Everton (Rooney 45 1')
Man of the Match Phil Jagielka (Everton)
Results
Catchweight 60kg: Mohammed Al Katheeri (UAE) beat Mostafa El Hamy (EGY) TKO round 3
Light Heavyweight: Ibrahim El Sawi (EGY) no contest Kevin Oumar (COM) Unintentional knee by Oumer
Catchweight 73kg: Yazid Chouchane (ALG) beat Ahmad Al Boussairy (KUW) Unanimous decision
Featherweight: Faris Khaleel Asha (JOR) beat Yousef Al Housani (UAE) TKO in round 2 through foot injury
Welterweight: Omar Hussein (JOR) beat Yassin Najid (MAR); Split decision
Middleweight: Yousri Belgaroui (TUN) beat Sallah Eddine Dekhissi (MAR); Round-1 TKO
Lightweight: Abdullah Mohammed Ali Musalim (UAE) beat Medhat Hussein (EGY); Triangle choke submission
Welterweight: Abdulla Al Bousheiri (KUW) beat Sofiane Oudina (ALG); Triangle choke Round-1
Lightweight: Mohammad Yahya (UAE) beat Saleem Al Bakri (JOR); Unanimous decision
Bantamweight: Ali Taleb (IRQ) beat Nawras Abzakh (JOR); TKO round-2
Catchweight 63kg: Rany Saadeh (PAL) beat Abdel Ali Hariri (MAR); Unanimous decision
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The Freedom Artist
By Ben Okri (Head of Zeus)
Kill%20
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Naga
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RESULT
Manchester United 2 Tottenham Hotspur 1
Man United: Sanchez (24' ), Herrera (62')
Spurs: Alli (11')
Greatest Royal Rumble results
John Cena pinned Triple H in a singles match
Cedric Alexander retained the WWE Cruiserweight title against Kalisto
Matt Hardy and Bray Wyatt win the Raw Tag Team titles against Cesaro and Sheamus
Jeff Hardy retained the United States title against Jinder Mahal
Bludgeon Brothers retain the SmackDown Tag Team titles against the Usos
Seth Rollins retains the Intercontinental title against The Miz, Finn Balor and Samoa Joe
AJ Styles remains WWE World Heavyweight champion after he and Shinsuke Nakamura are both counted out
The Undertaker beats Rusev in a casket match
Brock Lesnar retains the WWE Universal title against Roman Reigns in a steel cage match
Braun Strowman won the 50-man Royal Rumble by eliminating Big Cass last
COMPANY PROFILE
Name: Akeed
Based: Muscat
Launch year: 2018
Number of employees: 40
Sector: Online food delivery
Funding: Raised $3.2m since inception
Stats at a glance:
Cost: 1.05 billion pounds (Dh 4.8 billion)
Number in service: 6
Complement 191 (space for up to 285)
Top speed: over 32 knots
Range: Over 7,000 nautical miles
Length 152.4 m
Displacement: 8,700 tonnes
Beam: 21.2 m
Draught: 7.4 m
Tightening the screw on rogue recruiters
The UAE overhauled the procedure to recruit housemaids and domestic workers with a law in 2017 to protect low-income labour from being exploited.
Only recruitment companies authorised by the government are permitted as part of Tadbeer, a network of labour ministry-regulated centres.
A contract must be drawn up for domestic workers, the wages and job offer clearly stating the nature of work.
The contract stating the wages, work entailed and accommodation must be sent to the employee in their home country before they depart for the UAE.
The contract will be signed by the employer and employee when the domestic worker arrives in the UAE.
Only recruitment agencies registered with the ministry can undertake recruitment and employment applications for domestic workers.
Penalties for illegal recruitment in the UAE include fines of up to Dh100,000 and imprisonment
But agents not authorised by the government sidestep the law by illegally getting women into the country on visit visas.
Jetour T1 specs
Engine: 2-litre turbocharged
Power: 254hp
Torque: 390Nm
Price: From Dh126,000
Available: Now
COMPANY%20PROFILE
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