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USD200 million investment to bring best of British healthcare to Dubai
Dubai: King's College Hospital London and Ashmore Group Plc have today announced that they will launch a multi-disciplinary hospital and several day care clinics in Dubai. Al Tayer Group, a diversified regional business, and Dubai Investments PJSC, the leading investment conglomerate listed on the Dubai Financial Market, are local equity partners in the project.
After the successful launch of King's College Hospital's flagship Abu Dhabi clinic, which recently celebrated its first anniversary, Dubai is set to become home to an 80-100 bed world-class hospital facility and several clinics which will all be fully integrated with King's College Hospital's facilities in London. King's College Hospital Dubai will be located in the premium community of 'Dubai Hills' (being developed by Emaar and Meraas) with a total project cost estimated at c. USD200 million. UK-based Ashmore Group plc, a specialist emerging markets investment manager listed on London Stock Exchange will act as the investment manager for the project.
The first of the facilities to open their doors will be a number of clinics towards the end of 2016 and in 2017, in prime locations across Dubai. This will be followed by the 80-100-bed multi-specialty King's College Hospital Dubai scheduled to open in 2018. The hospital will offer four main specialties - Paediatrics, Endocrinology, Orthopaedics and Obstetrics and Gynaecology - as well as other acute and general medical services. In line with the existing operating model of the Abu Dhabi clinic, all staff and services will be fully integrated with King's College Hospital London to ensure provision of quality, evidence-based healthcare to UAE and regional consumers, with a significant proportion of experienced clinicians joining Kings College Hospital Dubai from the UK.
Commenting on the announcement HE Humaid Al Qutami, Chairman of the Board and Director-General of the Dubai Health Authority said: "The UAE offers extraordinary healthcare services in many fields and is committed to maintaining and developing clinical excellence for its residents, as well as medical tourists expected to travel here for treatment. The UAE's relationship with King's College Hospital London has been strong for more than 30 years and we welcome the addition of this world class brand to our ever-expanding offering of healthcare providers in line with the UAE's 2021 vision of achieving a world-class healthcare system."
In line with this, the Rt Hon Alistair Burt, Minister of State for Health (UK) added: "The UK public and private healthcare system is considered among the top in the world. We are extremely excited to expand British healthcare internationally, particularly within the UAE. Our long-standing ties with the UAE will continue to strengthen with the presence of King's College Hospital and Clinics in Dubai, combined with the specialist emerging markets investment management experience of Ashmore Group plc."
The drive to write the next chapter in the King's College Hospital's 170-year legacy by expanding into the UAE is a natural continuation of links between the UK and the Emirates. Ties between the hospital and the UAE originate from 1979, when a donation from His Highness Sheikh Zayed bin Sultan Al Nahyan, former President of the UAE, helped establish King's liver research centre, now amongst the top three liver specialist centres in the world. Over the years, thousands of patients from the UAE have received treatment at the London hospital. The decision to bring its world-class quality to the UAE minimises the necessity for outbound medical travel for Emirati patients.
Sharing his remarks on the expansion, Sir Bob Kerslake, Chairman of King's College Hospital London said: "We are extremely proud to announce our plans to establish a hospital and several clinics in Dubai, in partnership with Ashmore Group, Al Tayer Group and Dubai Investments. This follows on from the successful launch of our clinic in Abu Dhabi last year. All our operations in the UAE will be fully integrated with King's College Hospital London. Dubai is a very important market and healthcare destination so, for us, bringing together the cosmopolitan city of Dubai with the best of British healthcare has been a long awaited and exciting collaboration."
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About King's College Hospital in the United Arab Emirates
The world-renowned British teaching hospital King's College Hospital London, is now providing trusted patient care in the UAE after a joint venture with Al Tayer Group, Dubai Investments and UK-based Ashmore Group. Several King's College Hospital Clinics are set to open in 2016-2017 in Dubai, closely followed by the 100-bed King's College Hospital Dubai expected to open during 2018. The hospital will focus on four main specialties: Paediatrics, Endocrinology, Orthopaedics and Obstetrics and Gynaecology. There is currently a successfully operating King's College Hospital Clinics Abu Dhabi which has been operational since 2014.
Website: www.kchclinics.com/
About King's College Hospital London
King's College Hospital NHS Foundation Trust is one of the UK's largest and busiest teaching hospitals, training over 900 dentists, 750 doctors and 300 nurses every year. The Trust is recognised in the UK for its leading position across a full range of capabilities and is also recognised internationally for its work in liver disease and transplantation, neurosciences, cardiac, haemato-oncology, stroke and major trauma. On 1 October 2013, King's took over the running of the Princess Royal University Hospital in Bromley and Orpington Hospital, as well as some services at Beckenham Beacon and Queen Mary's Hospital, Sidcup. The new enlarged organisation has over 10,500 staff and provides over 1 million patient contacts a year. 9,000 babies are delivered by our hospitals each year, and over 750 patients come to our Emergency Departments every day. For more information, please visit www.kch.nhs.uk .
About Ashmore Group plc
Ashmore is a specialist Emerging Markets asset manager with assets under management of US$51.1 billion (as at 30 September 2015) invested across a number of Emerging Markets investment themes including external debt, local currency, corporate debt, blended debt, equity, alternatives (special situations, healthcare, infrastructure and real estate), overlay / liquidity and multi-asset products. The business was founded in 1992 as part of the Australia and New Zealand Banking Group. It became independent in 1999 and listed on the London Stock Exchange in 2006. Ashmore Group plc (ASHM:LN) is a member of the FTSE 250 index. The company has significant employee ownership. Ashmore is headquartered in London, England and has offices in China, Colombia, India, Indonesia, Japan, Saudi Arabia, Singapore, Turkey, the United Arab Emirates and the United States.
Website: www.ashmoregroup.com
About Al Tayer Group
Al Tayer Group is a diversified regional business established in 1979 with its headquarters in Dubai, UAE. Since its inception, the Group has grown rapidly and currently operates in 12 countries in the Middle-East and beyond, with over 9,000 employees. It has built leading operations in multiple sectors, including automotive, contracting, retail and services.
In retail, Al Tayer Group has firmly anchored its position as a leader in the Middle East through the representation of major brands such as Alexander McQueen, Boucheron, Bottega Veneta, Coach, Dolce & Gabbana, Emilio Pucci, Giorgio Armani and Jimmy Choo, to name but a few. Al Tayer Group is also responsible for opening and operating the largest Harvey Nichols outside the United Kingdom as well as the first Bloomingdale's stores outside the United States. Complementing its position in luxury retail, the Group's portfolio also includes leading lifestyle brands such as Gap, Banana Republic and Crate and Barrel. The Group also has joint ventures with Bulgari, Gucci, Prada and Saint Laurent. For more information on Al Tayer Group , please visit www.altayer.com.
About Dubai Investments PJS
Dubai Investments PJSC is a leading investment company listed on the Dubai Financial Market with over 19,800 shareholders and a paid-up capital of AED 4 billion. Incorporated in 1995, the company has grown exponentially with investments in a number of businesses across three core sectors - real estate, manufacturing & industrial and financial investments.
Since its inception, Dubai Investments has challenged the norms and introduced cutting-edge technologies, pioneering business models, unique investment strategies and innovative concepts across its diversified portfolio spanning different sectors and markets across the globe.
Dubai Investments currently has over 40 subsidiaries & joint ventures under its portfolio, across a wide array of industries and continues to seek new investment opportunities in new sectors, locally and internationally, as part of its strategic expansion plans.
Media contact:
Alia Karim
Hill+Knowlton Strategies
Email: alia.karim@hkstrategies.com
Telephone: +971 (0)565 019503
© Press Release 2015
