Abu Dhabi: Response Plus Medical Holding (RPM), an associate of ADX-listed Alpha Dhabi Holding PJSC (AlphaDhabi), made its market debut today on the Abu Dhabi Securities Exchange (ADX) Second Market.
Trading under the ticker RPM, Response Plus Medical Holding is one of the UAE’s largest providers of on-site healthcare management, with over 1,600 employees and paid-in capital of AED 200 million. Established in 2010, the company specialises in medical emergency transfers from remote work sites with over 260 medical facilities, as well as a fleet of over 160 ambulances, one of the largest in the region.
RPM, which provides medical support for the oil and gas sector, chemical industries, construction sites, has operations in the UAE, Saudi Arabia, and Oman, and is implementing a strategy to expand further in the GCC, Africa and India over the next five years.
Hamad Al Ameri, Managing Director and CEO of AlphaDhabi said: “We are excited to be bringing RPM, on to the ADX Second Market. RPM has grown rapidly into a leader in healthcare management and medical emergency transfers, providing innovative and accessible solutions to corporate clients. The company is executing a well-defined five-year strategy to expand into new markets, and to integrate and launch new services. By taking RPM public, we can share this exciting growth prospect with a broader base of investors.”
Alpha Dhabi Holding PJSC, which listed on the main board of ADX in June 2021, is one of the fastest-growing investment holding companies in the Middle East, and a leading real estate and construction company in the UAE.
Commenting on the listing, Saeed Hamad Al Dhaheri, Chief Executive Officer of ADX said: “I am pleased to welcome RPM as the latest listing on the Abu Dhabi Securities Exchange. ADX is becoming increasingly vibrant due to a strong pipeline of listings, and a broadening offering of products and services. By connecting growth companies such as RPM to significant pools of regional liquidity and major global investors, the exchange will play a key role in the region’s economic development in the coming years.”
RPM is the 13th company to list on ADX’s Second Market since it was established in 2014. Market capitalization of the Second Market, by the end of August, reached AED 38 billion an increase of 273% compared to the same period last year.
Dr. Shamsheer Vayalil, Chairman of RPM, said: “Listing on ADX is a major milestone in RPM’s development into a leading healthcare company in the region. The company has built a strong track record in serving the specialist medical needs of major industries such as energy and construction. We are now expanding geographically and enhancing our offering of services, ensuring that the company benefits even further from economies of scale and opportunities to grow our client base significantly. This is an exciting time to be part of the RPM growth story.”
Response Plus Medical Services (RPM)
Established in 2010, Response Plus Medical (RPM) is the UAE’s largest provider of on-site healthcare management and medical emergency transfers from remote work sites. With more than 260 site clinics, RPM is providing Doctors, Nurses, and Paramedic services for Oil and Gas industries, Events, Construction sites, educational institutions, Airports, and Seaports in the UAE. RPM is currently operating the largest private fleet of ambulances in the UAE capital with regional operations in Saudi, Oman, and a future expansion plan into the GCC, Asia, and Africa.
Alpha Dhabi Holding:
Established in 2008, Alpha Dhabi Holding (formerly Trojan Holding) is one of the fastest growing holding companies in the Middle East, with Investments and developments spread across the various sectors, construction and real estate, hospitality, healthcare, and infrastructure, and transportation projects Including St Regis at Saadiyat, Cheval Blanc Randheli resort in the Maldives, Waters Edge, Palm Tower, Deira Waterfront, Jabal Hafeet mass housing project, and Etihad Railway. With over 40,000 employees, the company is focused on real estate interests and assets that support the infrastructure of the nation. Recently it has embarked on building a diversified portfolio that manages, deploys, and organizes a variety of entities within the Construction, Hospitality, Industrial, and Capital verticals.
About International Holding Company:
IHC was founded in 1998, as part of an initiative to diversify and grow non-oil business sectors in the UAE. Adhering to ‘Abu Dhabi’s Vision 2030’, the ADX listed company endeavours to implement sustainability, innovation, and economic diversification initiatives across what is now one of the region’s largest conglomerates.
IHC has a clear objective of enhancing its portfolio through acquisitions, strategic investments, and business combinations. Comprising more than 30 entities, IHC seeks to expand and diversify its holdings across a growing number of sectors, including Real Estate, Agriculture, Healthcare, Food and Beverage, Utilities, Industries, IT and Communications, Retail and Leisure, and Capital.
With a core strategy to enhance shareholder value and achieve growth, IHC drives operational synergies and maximizes cost efficiencies across all verticals – it also continues to evaluate investment opportunities through direct ownership and entering partnerships in the UAE and abroad. As the world changes, and new opportunities arise, IHC remains focused on resilience, innovation and redefining the marketplace for itself, its clients, and its partners.