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Dubai: Dubai s Foundation Holdings Co. bought a stake in a Saudi Arabia-based primary health chain, marking its second investment in the kingdom s fast-growing market for medical care, and said it plans to list the firm in the next two years. The healthcare and education investment firm acquired 51% of Shifa Al Munthaza Polyclinic, Chief Executive Officer Abhishek Sharma said in an interview. Foundation Holdings plans to invest about 250 million riyals ($67 million) in Saudi Arabia s primary healthcare sector, he said, almost half of which was spent on the Shifa deal. The kingdom s primary healthcare market is expected to grow to 50 billion riyals in 2025 from 28.6 billion currently. Healthcare in Saudi Arabia is one the fastest growing markets in the region, Sharma said. We invest in local champions to make them bigger and stronger, and then we take them public and make them more sustainable.

Saudi arabiaUnited arab emiratesAr riyaShifa al munthazaAbhishek sharmaKing spaldingEfg hermes holdingAbhishek sharma dubai foundation holdings coFoundation holdingsDubai foundation holdings coShifa al munthaza polyclinicChief executive officer abhishek sharmaImage creditSaudi arabia basedHermes holdingKhalid nassar