GFH mulls acquisition of hospitals in Saudi Arabia: CEO

Hisham Alrayes, CEO of GFH Financial Group

GFH Financial Group, which is listed in Bahrain, Dubai and Kuwait, is focusing mainly on Saudi Arabia, as it aims to become part of Vision 2030 to boost its profitability, CEO Hisham Alrayes told CNBC Arabia.

GFH signed several memorandums of understanding (MoUs) to acquire a number of hospitals and health centers in the Kingdom.

The group initially allocated $200 million for healthcare investments, Alrayes said, adding that GFH aims to buy several renowned hospitals and list them under an organized group and unified policies for Saudi Arabia and the UAE. It aims to list these hospitals in the Saudi market to achieve strong returns for shareholders, or attract foreign partners.

GFH is focusing on healthcare groups in the Kingdom, driven by its belief that these groups are traded on a better level in Saudi Arabia, when compared to other sectors.

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