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Healthcare 3 The future of MENAT’s Healthcare 3 A sector facing up to far-reaching change This is a pivotal moment for the dynamic and competitive market that is that is the Middle East North Africa and Turkey (MENAT) region’s healthcare sector. Contents MICHAL PERLICEUSZ SECTOR HEAD, HEALTHCARE, Introduction 3 CMB MENAT – HSBC BANK MIDDLE EAST Digital disruption, shifting demographics, the far-reaching impact of Contributors 4 the COVID-19 pandemic, and pressure from insurers and regulators are transforming global healthcare. Each of these factors is critical in MENAT State of the sector 6 too – but the evolution of the sector here has created a unique healthcare ecosystem. Regulation 10 HSBC set out to take the temperature of the industry in the region. To do so, prior to the coronavirus outbreak, we spoke to key figures working in the field within government, major providers, clinical practice and consultancy. Technology 11 Their candid views add up to a fascinating snapshot of a region and a sector The future 12 in flux. It will provide useful insight for anyone with an interest in the future of the region’s healthcare, as it – like many regions globally – come to terms with a new normal following the arrival of COVID-19. Banking 14 Get in touch 15 Call us to discuss how your business can benefit from HSBC’s deep expertise and extensive network in MENAT. +971 442 36252 4 The Future of MENAT’s Healthcare Contributors HSBC interviewed industry experts Andrea Tithecott Dr. Ibtesam Al Bastaki Shehzad Jamal across the healthcare sector to Partner, Head of Regulatory and Healthcare Director of Investment and Public Private Partner, Healthcare & Education – Knight Frank Practices – Al Tamimi & Company Partnership Department – Dubai Health gather their insights and perspective Authority (DHA) Shehzad is a Partner at Knight Frank and leads on the most significant trends Andrea Tithecott is a Partner in the Regulatory the healthcare and education practice across practice in Abu Dhabi and head of Al Tamimi & Dr. Ibtesam Al Bastaki is currently a Director of the Middle East and African region. He has affecting the industry today. Company’s Healthcare Group. Andrea joined Investment and Partnership at the Dubai Health over 15 years of experience in consulting with the firm in 2013 to establish the Regulatory Authority (DHA), and is responsible for the assignments in Europe, Asia, Africa and the Practice which was quickly ranked by development of various health-related public Middle East. From the platform of Knight Frank, Chambers & Partners for significant expertise and private projects in the Emirate of Dubai. he and his team advises healthcare clients on in regulatory and local compliance issues. Her In addition to her main role, she also advises market entry, operator & investor search, business practice area has focused upon regulatory on best practice to ensure holistic expansion models, strategy and transaction services. In compliance, investigations and disputes, risk in healthcare industries across the UAE. addition, he also liaises with investors seeking management, crisis management, trade and Previously, she headed up the health strategy to invest in the care home market in the United customs, public policy and advocacy, corporate and performance team at the Prime Minister’s Kingdom and North America. governance, due diligence, and licensing/permit Office for the UAE’s Vision 2021. Her role at the issues. For governments she has contributed organisation also led to the introduction of the to the development of new law and policy. She national key performance indicators and the Magda Habib has been instrumental in developing the firm’s revamping of the federal health strategy. CEO – Dawi Clinics Healthcare Practice Group. With a passion for building brands, Magda has Mansoor Ahmed been fortunate to be involved in the launch of M V Suresh Director (MENA Region) Valuation & Advisory many promising businesses that have contributed CEO – National Pharmaceutical Industries – Development Solutions, Healthcare, to the development of the Egyptian market and (NPI) Education, Infrastructure & Public Private harness the enormous potential available. During Partnership (PPP) the first 15 years of her career, Magda was a key M V Suresh is the CEO of National member of the executive team that created and Pharmaceutical Industries (NPI), Oman. He has Mansoor has been the Director for Development built Raya Holdings Group, a leading technology been associated with NPI since its inception, Solutions, Healthcare, Education and Public brand in the Middle East. In 2008 she co-founded initially as its CFO and thereafter as the CEO. In Private Partnership (PPP) in the MENA region Fawry for Electronic Payments, and helped lead the initial phases Suresh contributed significantly since 2010, working across the UAE, Saudi the company to become the largest electronics to stabilising the operations of the company, over Arabia and Egypt offices. He has over 20 years of payment platform in Egypt, with more than 50 the past two decades, he has been instrumental experience in consulting and applied economic thousand payment points nationwide. Driven in transforming NPI into the vibrant organisation research at Colliers International, Ernst & Young, by the obvious need for standardised, holistic it is today. As the CEO of the company, he is Andersen Consulting, Manazel Real Estate PJSC primary healthcare services in Egypt, Magda involved in developing and implementing a in Business / Strategic / Operational Planning and established Dawi Clinics in November 2016 – a long-term strategy for the organisation including Transformation, Operators Search & Selection, group of medical clinics that aim to provide upgrading the Quality Management Systems (the Market and Financial Feasibility Studies, families with comprehensive medical services facility is EU GMP approved), growing production Valuations, Due Diligence and Private Equity. and unique check-up programmes through the capabilities, strengthening R&D and expanding Mansoor works with Colliers’ international offices implementation of internationally recognised into new markets. The Company is now poised to and centres of excellence worldwide to bring standards. take advantage of emerging opportunities in the together global innovations with in-depth local region as well as further afield. knowledge to their clients. 6 The Future of MENAT’s Healthcare 7 Collaborating for change As MENAT governments step back from healthcare provision, businesses are taking on new responsibilities. The tilt from public towards private “The Government is very clear that it healthcare provision has become cannot fulfil the entire demand on its more marked across the region own, and that it needs to partner with over the past decade, reflects the private sector in various forms,” she M.V. Suresh, CEO of National notes. Pharmaceutical Industries. In those states which have already “Historically there were only implemented mandatory health government hospitals,” he reflects. insurance, the impact on service patterns “At first, private hospitals catered is becoming clear. largely for the expatriates.” “Since it was introduced in Abu Dhabi “Now, with the advent of medical in 2014, the average number of times insurance, citizens have the choice to a patient visits a doctor increased from go to a private hospital. Growth will once or twice to four times a year,” says move towards the private sector.” Shehzad Jamal, Partner, Healthcare & Education at Knight Frank. Insurance drives demand Magda Habib, CEO of Egypt-based “Once insurance has kicked in Dawi Clinics, certainly sees the roll- throughout the region, you will find the out of universal health insurance there government taking the role of healthcare as a trigger for market transformation. administrators rather than operators, giving a massive boost to private sector operators as they take a greater role.” MENA’s healthcare With the market will grow from advent of medical US$ 185.5 billion insurance in 20191 citizens have the choice to go to a private to hospital. Growth will move towards the US$ 243.6 billion private in 20231 sector 1 https://www.arabhealthonline.com/en/visit/Hospital-projects-in-the-MENA-region.html 8 The Future of MENAT’s Healthcare 9 Workforce shortages are going to be a critical concern losses for hospital chains already in in Abu Dhabi are expats, according to Dr Ibtesam Al Bastaki, Director operation, on the basis of their track recent research2. of Investment and Public Private record of profitability. However, it is Partnership Department at Dubai still very challenging for new players in “Workforce shortages are going to Health Authority, says: “We anticipate the market: they face a lot of problems be a critical concern,” warns Andrea greater collaboration between public generating funds,” he says. Tithecott, Partner, Head of Regulatory and private sectors across the UAE and Healthcare Practices at Al Tamimi to offer value-based health services, There are financial challenges for & Company. improve delivery of specialised care, established players too, notably bring new and innovative models related to the current slowdown in the “The UAE needs to focus on some supported by technology changes, and wider economy. A delay in payments of the key workforce issues of finding also help address the talent needs.” has trickled down from insurers and and recruiting from a diminishing talent governments to affect hospitals, pool. Quality is going to be king, and “Ours is comparatively
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