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Abu Dhabi-based hospital operator Burjeel Holdings plans to open two specialized day surgery centers in Riyadh by 2025, generating annual revenue of at least 150 to 200 million riyals ($40-$53 million) when fully operational.
The projected capital expenditure is is between $30-$40 million per center, Burjeel said in a statement on Wednesday on ADX where its shares trade.
Each centre would cost $10-$15 million in working capital investment, said Burjeel, which operates 16 hospitals and 23 medical centres.
In 2022, Burjeel raised over $299 million through the stock market listing. Prior to that Abu Dhabi's International Holding Company bought a 15% stake in the company. VPS Healthcare Holdings, founded and chaired by Shamsheer Vayalil Parambath, continues to own 70% of Burjeel following the IPO.
(Writing by Brinda Darasha; editing by Daniel Luiz)
