The joint venture agreement will bring specialized care in GI to the region
Dubai, United Arab Emirates: Scope Investment, a UAE-based leading private investment group today announced it has partnered with Asan Medical Center (AMC), the largest and the foremost hospital from South Korea to open GCC’s first comprehensive GI (Gastroenterology) hospital in the UAE. The partnership brings global standards of specialized healthcare and increases the UAE’s capacity in the fields of digestive health, oncology, organ transplantation and lifestyle diseases.
In line with the UAE’s vision to achieve a world-class healthcare system, the hospital will build healthcare capacity and capability through advanced GI treatments as well as train local medical professionals. To date, Asan has trained more than 3,700 international physicians from over 90 countries.
Starting with gastroenterology services for both adults and children as well as surgical treatments, the new provider named Asan GI Hospital – UAE will be the first global hospital for Asan outside of South Korea. The joint venture will see the new hospital provide treatments including bariatric surgeries, pre- and post-operative management for organ transplants, and gastrointestinal cancer procedures with advanced endoscopic procedures, including EMR (Endoscopic Mucosal Resection), ESD (Endoscopic Submucosal Dissection) and ERCP (Endoscopic Retrograde Cholangiopancreatography).
Scope Investment aims to create sustainable value across sectors such as healthcare, real estate, retail, automotive, ICT (Information, Communication and Technology) in the GCC, Levant and Africa. With this partnership, it strengthens its health sector portfolio, which covers specialty hospitals, healthcare technology as well as a pipeline of projects in biologics, pharmaceuticals, vaccines, and distribution of medical devices.
On the sidelines of the signing ceremony on July 5, 2021, between both parties, Scope Investment’s CEO Fareed Bilbeisi said, “We are working towards realizing UAE’s vision of bringing world-class healthcare to the Middle East. We are committed to contributing to the national agendas of specialized healthcare and medical tourism through sustainable, value-add projects. As a destination, the UAE leads as the Arab destination for medical travel based on the Global Medical Tourism Index, and with our keen sector and country knowledge, we see incredible opportunities for growth and expansion. In this context, we are delighted to partner with Asan Medical Center. With its global standards in both clinical and medical education, the GCC will benefit from training a generation of GI specialized medical professionals.”
The UAE and South Korea have strong bilateral relations since the start of their trade ties in the early 1980s; this venture further develops an integrated service model operating across the borders of the UAE and Korea, expanding operations into specialized healthcare, research, and development.
Speaking on behalf of Asan Medical Center, Prof. Joon Pio Hong, Head of AMC’S International Business Development, said. “Our strategic agreement with Scope Investment is aligned with our objective to provide the best quality services and treatments as well as precise diagnostics to patients. This launch will make the facility the first global hospital of Asan Medical Center to be operated outside of South Korea and will be the first comprehensive GI specialty hospital in the GCC region.”
He added, “With the UAE’s focus on providing the best healthcare to its citizens and residents and to strengthen the country’s position as a destination for medical tourism, we now have the opportunity to introduce globally our unique patient-centric culture of Asan Medical Center.”
Known for their excellent healthcare system, South Korea has established itself as one of the leaders in specialized treatments. AMC has a long-term goal of contributing to a healthy life by achieving high levels of care, education, and research. Over the 30 years of its existence, the doctors working there have developed new treatment methods that overcome limits of existing techniques and have become the industry standard. This corelates to the UAE government’s belief that prioritizes best-in-class medical care.
Several doctors in the region posit that GI diseases are common and affect every two out of 10 people in the UAE. Another rising concern, obesity, is the leading cause of health issues with the residents in the Middle East. According to the National Health Survey conducted pre pandemic (2019), adult obesity in the UAE stood at 27.8 per cent. The rise in obesity brings about several health risks; it is estimated that the worldwide prevalence of childhood overweight and obesity has increased from 4.2% in 1990 to 6.7% in 2010, and as of last year, estimated to have reached an alarming 9.1%. As most GI causes vary from case to case, patients benefit most when they are seen and managed by a team of specialists from the outset to select the most appropriate treatment plan for every individual.
About Scope Investment:
Scope Investment is a leading private investment group based in the UAE.
Headquartered in Dubai, the Group is credited with niche projects built on the principle of sustainable, long-term value creation. Through a wide range of financial and investment strategies it caters to markets including GCC, Levant, and Africa to deliver both performance and impact.
With deep sector knowledge and expertise, Scope Investment has adopted a stable and reliable approach to develop a substantial and diversified portfolio across healthcare, real estate, retail, automotive, and ICT (Information, Communication and Technology), covering direct and passive investments, and public equities.
Committed to contributing to UAE’s economy and strengthening the global value chain, the Group has a pipeline of projects in key growth sectors to continue to build competencies in specialized fields.
About Asan Medical Center:
Asan Medical Center (AMC) is South Korea’s largest general tertiary-care hospital under Asan Foundation, founded by Chung Ju-Yung, the founder of Hyundai Group. AMC has a total of 2,715 beds occupying about 85,000 square meters and has been leading medical developments and driving patient satisfaction. It is equipped with world-class medical professionals and optimal treatment systems based on advanced medical systems as well as cutting-edge medical equipment, and hence oversees 11,680 outpatients, 2,427 inpatients, and 256 emergency patients on average per day.
Since its establishment in 1989, AMC has been globally recognized for its medical standards and expertise especially for severe diseases such as cardiovascular disease, cancer, and organ transplantation. Recently, Newsweek, a U.S weekly news magazine, released its ‘World’s Best Hospitals 2021’ and ranked Asan Medical Center the first among Korean Hospitals for 3 consecutive years and 34th among international hospitals. Also, it achieved a world-class medical reputation in major specialties among international hospitals: Endocrinology (4th), gastroenterology (6th), oncology (7th), neurology (8th), orthopedics (12th), and cardiology (36th).