Company reports record FY 2021 revenue of AED 3,351 million, EBITDA of AED 779 million and profit for the year of AED 234 million.
Abu Dhabi: Burjeel Holdings (“Burjeel” or the “Company”), one of the leading healthcare platforms in the MENA region, today announces its financial results for the Full Year 2021.
For the 12-month period ended 31 December 2021, Burjeel reported record financial results reflecting the strength of its diversified portfolio of high-quality healthcare assets, highly specialized services and its strong, connected growth platform. Revenue in FY 2021 was AED 3,351 million, representing an 18% compound annual growth rate (“CAGR”) over the three-year period 2019-2021, whilst EBITDA was AED 779 million, representing an EBITDA margin of over 23%, and a 37% CAGR between 2019-2021. Profit for the year was AED 234 million.
The record results demonstrate Burjeel’s strong growth trajectory, building on the continued and consistent growth delivered over the past 15 years. Today, Burjeel has a portfolio of 39 hospitals and medical centers across the UAE and Oman, supported by a network of retail pharmacies and other medical services. The Company’s success has been built on its commitment to quality and clinical excellence and its focus on providing healthcare access across the full socioeconomic spectrum, delivered by many of the market’s best and most innovative consultants.
Since inception, Burjeel has invested AED 4.2 billion of capital expenditure in the UAE and Oman including the establishment of Burjeel Medical City, a rising regional Centre of Excellence for Oncology and other complex treatments, and the largest private hospital in the UAE. Significant investment has also been made in driving digitalisation and innovation across the Company, in order to enhance clinical quality and operational efficiency, through initiatives including digitalised patient journeys, artificial intelligence enabled clinical/diagnostic support and seamless collaboration across clinical and operations.
Commenting on the results, Dr. Shamsheer Vayalil, Chief Executive Officer and Executive Director of Burjeel Holdings, said: “Burjeel Holdings’ record financial results for 2021 reflect the hard work and dedication of our people in helping to realise our vision to be the leading healthcare services provider in the Middle East and beyond, known for our quality and clinical excellence. Our ‘patient-first’ focus is driven by our teams, who are directly responsible for the enduring power of our healthcare facilities and the successful, diversified businesses that are supporting our core business. The strategy and decisions we have made along the way have enabled us to achieve the levels of success seen in today’s results.
“Burjeel Holdings operates 39 hospitals and medical centers across the UAE and Oman which provide healthcare services for all socio-demographics and are built around our commitment to offering highly specialised, complex and personalised services, underpinned by strong innovation and research capabilities. Our ambitions are demonstrated by Burjeel Medical City, our purpose-built state-of-the-art 400-bed tertiary care facility in Mohamed Bin Zayed City, which provides the highest level of care. As we continue along our journey of strengthening Burjeel Holdings as an organization, we will develop our brand to position ourselves as a platform to attract top talent that can succeed at the highest levels, helping to further develop our company.
“With the establishment of Burjeel Holdings earlier this year and the strong growth seen over the past three years, I am highly confident we have the platform in place to take the strategic corporate actions needed to drive our future growth. Healthcare is a key focus for governments across the Middle East and we look forward to supporting our partners in the UAE and the wider GCC, in helping build and enhance their healthcare services and infrastructure.”
Burjeel Holdings became the new holding company for the group with effect from March 2022. Burjeel Holdings will build on the legacy of providing an unparalleled continuum of compassionate care across its network of hospitals, medical centers, and allied services. Burjeel Holdings’ assets cater to all socio-economic segments across a range of brands, including Burjeel, Medeor, LLH, Lifecare, and Tajmeel.