From the Washington Post: NMC Health PLC, a health care company in the United Arab Emirates, laid out plans Thursday to list its shares in London rather than at home as it seeks to raise up to $250 million. The company said it is targeting an initial public offering on the London Stock Exchange to raise cash to cover its existing plans and future growth. NMC is owned by a small group of investors and does not sell shares on the Emirates’ own stock markets in Dubai and Abu Dhabi.
This news on the tail of the fact that healthcare is among the priority sectors identified by the UAE government and as a result, the UAE healthcare industry has displayed extraordinary growth and significant progress in the past few years. In line with the UAE government’s focus to improve the standard of healthcare, each year the UAE hosts the largest healthcare event in the region – the Arab Health. The Arab Health provides the perfect business platform for healthcare companies to showcase their products and enter into business relationships with health and medical institutions. This year’s Arab Health took place in January and attracted over 3,000 exhibitors from 60 countries and more than 65,000 healthcare professionals worldwide.
Given the tremendous success of the event, it is expected that many foreign companies will be entering into the UAE healthcare market either through distributorships and agencies or by setting up legal entities in the region. However, prior to supplying any medical devices in the UAE, it is crucial that foreign companies register their products with the relevant authorities. Diaz Reus Partner in Charge of the firm’s Dubai offices outlines what foreign companies need to know. Read more about regulatory guidelines in the UAE.
- UAE health care firm plans London stock listing (seattletimes.nwsource.com)
- U.S. Trade Mission Delegates Seek Partnership Opportunities in the U.A.E.’s Growing Healthcare Sector (prweb.com)