Saudi Arabia's leading private healthcare provider, Fakeeh Care Group, announced its intention to list on the Saudi Exchange (Tadawul) through an initial public offering (IPO). The offering will include the sale of a 21.47% stake, comprised of both newly issued shares and existing shares sold by current shareholders. This move signals the company's ambitions for growth and its confidence in the evolving Saudi healthcare sector.
Fakeeh Care Group, a family-owned business with a long-standing reputation, boasts an extensive network of facilities across the kingdom. This includes four hospitals, with a presence in major cities like Jeddah and Riyadh, and a network of five medical centers. The group offers a wide range of medical services, from everyday health needs to specialist care. Their reach extends beyond traditional healthcare institutions with the inclusion of the NEOM Hospital and Advanced Medical Centre, managed through innovative operating models.
The healthcare group's decision to go public comes amidst a period of significant growth in the Saudi Arabian healthcare sector. The government's Vision 2030 economic diversification plan has placed a strong emphasis on developing the healthcare sector, making it a lucrative area for investment. This growth is fueled by an expanding Saudi population and a rising demand for high-quality medical care.
Fakeeh Care Group is poised to capitalize on this positive momentum. The proceeds from the IPO will be used to finance the group's ambitious growth strategy. This includes expanding its presence in key Saudi cities like Makkah, Madinah, and the futuristic megacity NEOM. The company also intends to invest in enhancing its existing facilities and services, solidifying its position as a leader in Saudi healthcare.
The offering is expected to attract significant interest from both domestic and international investors. Fakeeh Care Group's established track record, combined with the promising outlook for the Saudi healthcare sector, presents a compelling opportunity. The IPO is a significant development for the company and the broader Saudi healthcare market. It highlights the growing role of private healthcare providers in meeting the evolving needs of the kingdom's population.