King's College Hospital London to open new 100-bed hospital in Dubai
King's College Hospital currently runs a clinic in Abu Dhabi. (Courtesy of UAEinteract.com)
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The United Kingdom-based King’s College Hospital London has announced that it will open a 80-100 bed hospital and a network of clinics in Dubai.
The group, which currently operates a clinic in Abu Dhabi, announced the launch of a $200m hospital in Dubai Hills, developed by Emaar and Meraas. The hospital is scheduled to open by 2018 and will specialise in four major areas paediatrics, endocrinology, orthopaedics, obstetrics and gynaecology along with other general medical services.
All the staff at the new facility will be fully integrated with King’s College Hospital London while a part of clinicians from the UK unit will join the Dubai hospital upon its opening.
King’s College Hospital is also set to open a number of clinics by the end of 2016 and 2017 in Dubai. The operator did not mention where these clinic will be located or specify how many will be opened.
Dubai Investments, a part of the Dubai ruler’s investment vehicle, and Al Tayer Group are both equity partners in the venture. Dubai Investments is contributing 26.75 per cent of the total equity financing for the project, the firm said in a separate statement.
Officials say that the new hospital will cater to Emiratis who visit King’s College Hospital facilities in London and will tap into outbound medical tourists from the United Arab Emirates.
The Gulf region is increasingly becoming an attractive market for hospital operators due to the growth in population and increasing demand for healthcare facilities. Healthcare spending is also expected to grow exponentially over the years to make up for years of under-investment, analysts say.
According to a report by EY, the Gulf Cooperation Council’s healthcare spending is projected to increase at a compound annual growth rate of 11.4 per cent in 2015.
Meanwhile another report by alternative asset management firm Al Masah Capital estimated healthcare spending in the MENA region will reach $144bn by 2020. GCC countries are expected to account for 52 per cent of this spend, the report added.
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