MENA's 5 Most Valuable Healthcare Companies 2024

The combined market cap of 57 healthcare companies listed on MENA's stock exchanges hit $83.7 billion on August 13, 2024, with the top five companies accounting for about 62.4% of the total market cap. These are MENA's five most valuable healthcare companies in 2024.

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1. Dr. Sulaiman Al Habib Medical Services Group (HMG)
Market cap: $26.2 billion
Headquarters: Saudi Arabia

Sulaiman Bin Abdulaziz Al Habib founded HMG in 1993. Today, he owns 40.03% or $10.5 billion of the group. The healthcare provider’s share price skyrocketed by 411% since it first traded on the Saudi Exchange in March 2020, to hit a market cap of $26.2 billion in August 2024. HMG’s net income in the first half of 2024 increased by 13.4% to $302.2 million, mainly driven by revenue growth due to an increase in the number of patients. As of December 2023, the group had 25 medical facilities and over 1,900 beds. It employs over 20,000 people and cared for more than six million patients in 2023.

2. PureHealth Holding
Market cap: $11.5 billion
Headquarters: U.A.E.