01 March 2006

Leading UAE-based investment house Istithmar has joined hands with Bumrungrad International Limited (BIL), one of Asia’s leading healthcare operators, to set up its first hospital in Dubai.

Bumrungrad Hospital will be built on a prime site adjacent to Jumeirah Lake Towers on Sheikh Zayed Road, at estimated cost of Dh300 million ($81.7 million) for the first phase which will have a capacity of 125 beds.
The hospital project, which will eventually have a capacity for 250 beds, is expected to open in late 2007 and will cater primarily to the rapidly-growing population of Jumeirah, Jebel Ali and New Dubai districts of the emirate.
The Dubai facility will be fully managed by BIL, which is renowned for its stringent international standards in hospital management and healthcare.
 “Istithmar has once again reinforced its commitment to the UAE and this agreement with BIL will help us catapult Dubai as an emerging medical and healthcare destination.” says Istithmar’s chief executive officer Muneef Tarmoom.
“Investment in the new hospital project and a tie-up with a leading name like BIL is in line with our objective of offering world-class healthcare services and attracting healthcare professionals to Dubai.
Commenting on behalf of BIL, CEO Curtis J Schroeder, says: “We are delighted to enter into this JV with Istithmar and are confident that the new hospital will be able to successfully meet the growing healthcare needs of one of the fastest growing cities in the world and will attract patients from throughout the region. We are very pleased to have Istithmar as our partner who is playing a dynamic role in this very exciting period in the development of the UAE.'”
BIL is a premium provider of quality healthcare in South East Asia and a wholly owned subsidiary of Bumrungrad Hospital Public Company Limited (BHPCL) from Thailand. BHPCL operates the largest private hospital in Southeast Asia, treating over 1 million patients each year, including over 360,000 international patients from 140 countries around the world. This includes 50,000 patients from the Middle East.

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