Foundation Holdings in Dubai Spearheads Creation of Right Health
Foundation Holdings, a global strategic investment firm focused on building sustainable industry-defining companies in the impactful healthcare, education and consumer sectors, today announced the launch of Right Health, the UAE’s largest and fastest-growing value healthcare organization.
Right Health has been established through the acquisition and integration of 31 existing medical and health service providers, including facilities under Ruby Clinic and Group Companies (RCGC), Class Medical Centre (CMC) as well as BioHealth Diagnostic Center (BH). Right Health includes a range of clinics, pharmacies, diagnostic centers and a drug store, that are already operational and serve a combined total of approximately 450,000 patients. Additionally, it also already conducts 150,000 lab tests annually and has over 200 medical and administrative staff on its rolls.
In line with the vital objective of the National Agenda of the UAE Vision 2021 to establish a world-class healthcare system accessible to all, Right Health aims to become the premier provider of quality and affordable healthcare delivered at the doorstep of the working-class population. The formula of targeted, smaller healthcare centers/clinics in strategic locations will allow Right Health to provide affordable and quality healthcare, accessible to a broader population, including lower-income patients and those living in areas under-served by tertiary hospitals.
Speaking about the core purpose behind Right Health, Abhishek Sharma, CEO of Foundation Holdings, said: “We are in the golden age of healthcare. The ground-breaking Right Health launch is an exciting new chapter for Foundation Holdings. High quality, affordable healthcare for a value conscious audience is one of the most pressing needs of the UAE. Our vision with Right Health is to reimagine the way healthcare is delivered to the working-class population and our plan for Right Health is to increase its geographical footprint to 51 facilities that can contribute to improving over a million lives by 2022.”
He added: “Right Health aims to be a key partner, helping business owners and key stakeholders including the insurance companies stay ahead of the curve by offering greater value for the patients and customers and improved health outcome for the entire population.”
For his part, Dr Sanjay Paithankar, Managing Director of Right Health and previously Founder of Ruby Clinic and Group Companies, said: “Right Health is committed to transforming the overall value healthcare experience and fulfilling the critical objective of delivering exceptional and affordable patient care. By reducing waste in healthcare systems, we will free up funds for interventions that deliver value by improving patient outcomes. As we commence this new journey, we look forward to leveraging Foundation Holdings’ in-depth knowledge of the healthcare sector, its strong track record in enhancing organizational efficiencies and access to superior global technology and digital solutions.”
The UAE’s healthcare market is estimated to be valued at US$17 billion and is expected to grow at a rate of 11% per annum. Driven by a growing younger population and a favorable government policy, the launch comes at a critical time for the expanding healthcare sector. Potential growth in Dubai alone, from the implementation of mandatory health insurance is estimated to contribute additional revenue of AED2 billion per annum to the sector by 2018.
Right Health’s medical centers and clinics are located in areas with a captive patient population and high footfalls. They therefore serve as a one-stop shop with diverse specializations and revenue streams across outpatient, pharmacy, radiology, and laboratory services.
Foundation Holdings is a strategic global investment firm focused on building sustainable, industry defining companies in the healthcare, education and consumer sectors across India and the GCC. The firm enhances operational value for companies in these high growth sectors through its dynamic team across Dubai and Mumbai.