Fintech PR
TVM Capital Healthcare Announces the Opening of Baraya Extended Care’s First Outpatient Rehabilitation Clinic in Riyadh
This is the first of nine inpatient and outpatient facilities planned for Baraya across KSA, addressing a gap of 26,000 long-term post-acute care and rehabilitation beds
RIYADH, Saudi Arabia, March 6, 2024 /PRNewswire/ — Baraya Extended Care KSA has launched its first rehabilitation outpatient clinic in Riyadh, Saudi Arabia, offering physical, occupational, speech and language therapy, plus advanced and intensive rehabilitation services. The clinic has the capacity to provide 3,000 rehabilitation sessions per month.
Saudi Arabia faces a significant shortage of long-term post-acute care (LTPAC) and rehabilitation beds. Consequently, this area has been identified as a key priority of Vision 2030 to enhance the healthcare sector. As public hospitals are experiencing capacity constraints, dedicated LTPAC and rehabilitation facilities represent a better way to improve patients’ lives and alleviate the burden on hospitals.
Baraya is a portfolio company of TVM Capital Healthcare’s new fund in KSA, a highly specialised global healthcare investment firm operating in the Middle East since 2009. The firm has an excellent track record and extensive expertise in specialty care and extended care, as the founders of ProVita International Medical Center and Cambridge Medical & Rehabilitation Center.
Looking ahead, Baraya’s second outpatient clinic will open in Jeddah in April 2024. Its first in-patient long-term care hospital is currently under construction and expected to open in Abha by the end of 2025 with a capacity of 216 beds. The long-term care facility will offer specialised services for Saudi’s ageing population suffering from chronic and complex conditions, as well as the younger population who have experienced catastrophic injury or with congenital diseases.
Jad Halaby, Chief Executive of Baraya Extended Care, said: “Our mission is to provide a comprehensive range of services from long-term care and ventilated long-term care to intensive rehabilitation and home healthcare – accessible through a variety of facilities, including clinics and hospitals. We are committed to addressing the critical need for extended care services in the Kingdom. Through our initial nine facilities across three regions (Riyadh, Jeddah, and Abha), we will leverage TVM Capital Healthcare’s expertise to deliver cutting-edge solutions aligned with Vision 2030’s healthcare goals, improving the lives of patients and families in Saudi Arabia by providing exceptional extended care services.
Dr. Helmut M. Schuehsler, Chairman and CEO of TVM Capital Healthcare, added: “as one of the earliest global healthcare funds operating in the Kingdom since 2015, we have worked hard to bring models that address the greatest needs in KSA private healthcare, and we appreciate the continuous support of the Ministry of Health and the Ministry of Investment in our efforts. Through companies like Provita International Medical Center and Cambridge Medical & Rehabilitation Center, we have been impacting the sector in the UAE and Saudi Arabia for around 14 years, and our new company, Baraya Extended Care is a key step to support the Health Sector Transformation Program. As always, we bring world-class clinical and technical partners to support our activities with their knowledge, standard operating procedures, education and training programmes.”
Othman Abahussein, TVM Capital Healthcare Saudi Operating Partner, concluded: “Baraya emerges as a transformative initiative developed by TVM Capital Healthcare. As a leading provider of rehabilitation and long-term care services, Baraya Extended Care addresses critical gaps within the healthcare sector, ensuring that every individual receives the care they deserve. As investors and residents of the Kingdom, we are excited about the potential of this project to profoundly impact lives, empowering our communities to achieve the quality of life they aspire to.”
About TVM Capital Healthcare:
TVM Capital Healthcare is an emerging markets-focused healthcare private equity firm headquartered in Dubai and Singapore, with offices in Riyadh, Boston, Munich, and Ho Chi Minh City. The firm invests expansion and growth capital in healthcare companies to improve local access to quality care. Investment and operating partners as well as a strong group of Senior Advisors have long-standing international track records in healthcare investing, active board work, contributions to strategy development and implementation, and deep healthcare operations experience. The firm partners with local Middle Eastern and Southeast Asian management teams to build domestic or regional sector champions and selectively backs companies from Europe or North America for expansion into the firm’s target geographies. TVM Capital Healthcare’s investment and operating approach combines strong commercial value creation and returns with impact and responsible (ESG) investing aligned to UN SDGs. www.tvmcapitalhealthcare.com
About Baraya Extended Care:
Baraya Extended Care company was founded and backed by TVM Capital Healthcare, based on its substantial experience in investing and operating healthcare facilities in Saudi Arabia and the UAE, with previous investments such as ProVita and Cambridge Medical & Rehabilitation Center (CMRC). Dedicated to offering comprehensive long-term care, rehabilitation, and at home healthcare services in the Kingdom of Saudi Arabia, Baraya implements new therapeutic tools, latest technologies, and treatment approaches that have significant impact on patient care. Baraya strives to redefine post-acute care standards and elevate patient experiences. The state-of-the-art facilities and a team of skilled professionals will enable the company to deliver innovative and effective solutions across a spectrum of extended care services. www.baraya.com.sa
Photo – https://mma.prnewswire.com/media/2354934/Baraya_Extended_Care_Clinic.jpg
View original content:https://www.prnewswire.co.uk/news-releases/tvm-capital-healthcare-announces-the-opening-of-baraya-extended-cares-first-outpatient-rehabilitation-clinic-in-riyadh-302079780.html
DUBAI, UAE, Nov. 15, 2024 /PRNewswire/ — PayerMax, a leading global provider of payment solutions, has been named Best Payments Solutions Provider of 2024 by MEA Finance magazine at an award ceremony hosted on November 12 in Dubai. The award is a testament of PayerMax’s success in providing exceptional financial technology services to clients in the Middle East and Africa, as well as its leadership position in payment solutions.
The annual MEA Finance Industry Awards recognizes the financial institutions, technology solutions providers, fintech companies, service providers and individuals for exceptional achievements, groundbreaking services and inspirational leadership in delivering innovative products and services.
“We’re very honored to receive the award. It not only recognizes the success of our innovative technologies and regional strategies, but also it is the perfect testimonial of how our team thrives to create superior values for our clients, and we look forward to more cooperation with more partners,” said Wang Hu, co-founder of PayerMax. “Looking ahead, PayerMax remains committed to further strengthening our presence and deepening our efforts in the Middle Eastern market. We will continue to empower more businesses and enhance the digital payment ecosystem across regions, driving value and growth for clients around the world.”
In 2024, PayerMax achieved major milestones in the Middle East market. In alignment with Saudi Arabia’s Vision 2030, PayerMax became the first Asian fintech company to establish a regional headquarters in Riyadh and obtained the Payment Technical Service Provider (PTSP) certification from Saudi Payments on behalf of the Saudi Central Bank (SAMA) in September. This certification allows PayerMax to operate seamlessly within Saudi Arabia’s financial ecosystem, providing merchants across the country with secure, flexible, and efficient payment solutions. The company has also formed partnerships with leading banks such as SAB and Emirates NBD, advancing the digital twin ecosystem while supporting financial inclusion, economic diversification, and an enhanced user experience through digital payments in the region. Furthermore, as the first Asian fintech company to secure the UAE’s payment license, PayerMax is strengthening its presence and expanding operations across the Middle East.
Beyond the Middle East, PayerMax’s achievements in 2024 were globally recognized. In May, PayerMax was awarded the 2024 “Best Payments and Collections Solution” award from The Asset in the prestigious “The Asset Triple A Awards.” With an impressive 95% coverage of mainstream payment methods in emerging markets, PayerMax continues to build on its vision of providing innovative payment solutions worldwide.
PayerMax is committed to providing businesses with one-stop local payment solutions to meet their diverse payment needs. Its extensive network supports a wide range of over 600 payment methods, more than 70 transaction currencies, and over 20 local languages, catering to diverse global user payment preferences. With a vision to drive merchant success on a global scale, PayerMax offers an array of value-added services, including risk management, foreign exchange management, payment marketing (webshop), and finance & tax services, constructing a comprehensive environment for merchants to excel in a competitive global marketplace and handle the intricacies of globalization with ease.
Looking ahead, PayerMax is committed to staying at the forefront of the evolving digital payment landscape. The company will continue to invest in technological innovation and service enhancements to deliver increased value and opportunities to its customers. By doing so, PayerMax aims to empower global business expansion and facilitate the transition to a cashless society. For more information, please visit https://www.payermax.com/.
Photo – https://mma.prnewswire.com/media/2556475/DSC09642.jpg
Logo – https://mma.prnewswire.com/media/2414800/5015426/PayerMax_Logo.jpg
View original content:https://www.prnewswire.co.uk/news-releases/payermax-recognized-as-best-payment-service-provider-by-mea-finance-302306832.html
- Jaehoon Chang is promoted to Vice Chair of Hyundai Motor Group – Automotive Division
- José Muñoz appointed as CEO of Hyundai Motor Company
- Sung Kim appointed as President of Hyundai Motor Company
- Jun Young Choi is promoted to President of Kia Corporation; and Kyoo Bok Lee is promoted to President of Hyundai Glovis
- Appointment of new CEOs for the Group’s affiliates, including Cheol Seung Baek, Hyundai Transys; Joon Dong Oh, Hyundai KEFICO; Hanwoo Lee, Hyundai E&C; Woo Jeong Joo, Hyundai Engineering
SEOUL, South Korea, Nov. 15, 2024 /PRNewswire/ — Hyundai Motor Group (the Group) today announced key executive appointments for the year 2024 as part of its aims to solidify sustainable growth and better prepare for uncertainties in the global business environment.
This appointment reflects its commitment to a performance-based approach that aligns with outstanding achievements. By consolidating the Group’s core competencies and strategically placing proven leaders with verified track records in key positions, the Group aims to strengthen organizational foundations and accelerate our future transformation.
Jaehoon Chang is promoted to Vice Chair of Hyundai Motor Group – Automotive Division, effective Jan. 1st, 2025, to further strengthen the future competitiveness of the Group’s mobility business.
Looking ahead, Chang will oversee the entire value chain, including product planning, supply chain management manufacturing, and quality assessment. He will optimize business operations across the automotive business while securing internal synergies and building foundational systems for cost and quality innovation to ensure sustainable future competitiveness.
José Muñoz is appointed President and CEO of Hyundai Motor Company to advance global management framework and solidify customer-focused mobility innovation through diverse powertrain offerings, including electric, hybrid, ICE and hydrogen technologies, effective Jan. 1st, 2025.
As a result, Muñoz is appointed as the first non-Korean CEO of Hyundai Motor – identified as the ideal fit to further enhance the company’s performance thanks to his merit-based management philosophy and his commitment to recruiting top global talent. Going forward, he is expected to enhance the company’s global management systems and further elevate its stature as a leading global brand.
Sung Kim is appointed as President of Hyundai Motor Company to manage the business effectively through global economic uncertainties, effective Jan. 1st, 2025.
As part of his appointment to enhance the company’s Think Tank capabilities and better navigate various geopolitical challenges, Kim will oversee global external affairs, analyze and research domestic and international policy trends, and lead communications and PR initiatives. He will focus on increasing synergies across the company’s intelligence functions, strengthening external networking and advancing global protocol capabilities.
Jun Young Choi is promoted to President of Kia Corporation from Head of Domestic Production Division and Chief Safety Officer (CSO). Kyoo Bok Lee, CEO of Hyundai Glovis, is promoted to President.
To strengthen sustainable management and accelerate business transformation, the Group has appointed Cheol Seung Baek as CEO of Hyundai Transys and Joon Dong Oh as CEO of Hyundai KEFICO.
To address challenges in the construction industry and accelerate fundamental improvements, the Group has appointed Hanwoo Lee as CEO of Hyundai Engineering & Construction Co., Ltd. (Hyundai E&C) and Woo Jeong Joo as CEO of Hyundai Engineering Co., Ltd.
* Editor’s note: Appointment of all CEOs referenced are subject to approval by the relevant Group affiliate’s Board of Directors
About Hyundai Motor Group
Hyundai Motor Group is a global enterprise that has created a value chain based on mobility, steel, and construction, as well as logistics, finance, IT, and service. With about 250,000 employees worldwide, the Group’s mobility brands include Hyundai, Kia, and Genesis. Armed with creative thinking, cooperative communication and the will to take on any challenges, we strive to create a better future for all.
More information about Hyundai Motor Group can be found at:
http://www.hyundaimotorgroup.com or Newsroom: Media Hub by Hyundai, Kia Global Media Center (kianewscenter.com), Genesis Media Center.
PDF – https://mma.prnewswire.com/media/2558725/PDF.pdf
View original content to download multimedia:https://www.prnewswire.co.uk/news-releases/hyundai-motor-group-announces-2024-second-half-key-executive-appointments-302306510.html
Fintech PR
DC to VC – NatWest Cushon and Future Planet Capital Lead the Charge in UK Pension Access to British Innovation
LONDON, Nov. 14, 2024 /PRNewswire/ — Future Planet Capital (FPC) is delighted to be working with NatWest Cushon, with a view to the Cushon Master Trust potentially making an investment in the British Co-Investment Fund (BCF). Any future investment will be subject to commercial terms, due diligence, and Trustee approval. If approved, NatWest Cushon’s participation would signify a major step forward, creating new avenues for British pension funds to access high-growth, private technology companies at scale. In partnership with pension solutions provider Mobius Life, the Fund will channel pension investment into the UK’s most innovative and impactful businesses.
The BCF closely aligns with the Chancellor of the Exchequer’s vision under the Mansion House Reforms, aiming to unlock large-scale investment in key British industries. It emphasises the private sector’s pivotal role in accelerating innovation and economic growth, through supporting the UK’s most promising and high-impact technology businesses.
Historically, British pension funds have had limited access to high-growth investment opportunities within the UK, meaning that overseas investors have been the primary beneficiaries of the nation’s flourishing innovation economy. Indeed, according to the BVCA, 86% of venture capital investment comes from overseas investors. To redress the balance, the BCF will be one of the first funds designed specifically for UK regular savings pension funds. It will offer direct and ongoing access to investments in the strategic technologies of the future.
Examples of companies likely to benefit from the Fund’s investments include Tokamak Energy, a world-record holder in nuclear fusion technology. The government-backed UK Innovation and Science Seed Fund (UKI2S), managed by Future Planet Capital, was the first investor in Tokamak Energy, which has since gone on to raise over $250m. This demonstrates the role of public-private partnership in supporting British technology to drive both economic growth and environmental impact. With the support of mainstream British capital, much more can now be done.
Lord Norman Foster, Chair of Future Planet Capital’s Advisory Board shared, “One of our most important tasks is to anticipate the future and find ways to have a positive impact on the wellbeing of people and the planet. We will need intellectual and financial capital to make that happen. This partnership supports the excellent work that is being done to invest in ground-breaking technologies which offer incredible potential.”
Douglas Hansen-Luke, Executive Chairman and Co-founder of Future Planet Capital, commented, “This collaboration enables British pension savers to support the next generation of British innovation, ensuring that UK capital not only backs but also benefits from the country’s technological and sustainable advancements.”
Julius Pursaill, Pensions expert and advisor to the Cushon Master Trust, said:
“There are a number of good reasons to support the UK Growth agenda. Innovations like the British Co-Investment Fund play an important role in delivering on this objective by driving financial growth whilst also offering access to innovative, impact-focused sectors such as climate technology and artificial intelligence, which can help secure the future for pension savers and broader society.”
About Future Planet Capital
Future Planet Capital is an impact-led venture capital firm built to back growth companies from the world’s top universities and research ecosystems. Founded in Britain with global outlook and reach, Future Planet Capital manages over $460m for public and private investors and has deployed a further $200m of co-investment. With 140 portfolio companies across geographies and stages their mission is to invest in high-growth companies solving global challenges. Mapped against the UN Sustainable Development Goals, these include climate change, education, health, security, and sustainable growth.
For more information visit: https://futureplanetcapital.com/
Other potential investments include:
Tropic Biosciences, founded in 2016 with an initial investment from Future Planet Capital’s UKI2S fund, is reshaping agriculture to improve resilience, efficiency, and sustainability in food production.
Roslin Technologies, spun out of the University of Edinburgh, pioneers the development of pluripotent stem cells for cultivated meat. Their technology addresses the global protein gap by enabling scalable, sustainable meat production without raising animals. By providing genetically stable, self-replicating stem cells, Roslin delivers solutions that reduce production costs to less than $15/kg, positioning itself as a leader in a $2BN cell market by 2035.
Beam (formally known as Rovco) is a growth-stage autonomous robotics company specialising in subsea services for the offshore wind sector. With £19 million in 2023 revenue, the company is rapidly scaling, leveraging cutting-edge AI and computer vision to lead the way in subsea autonomy.
Quotes of Support:
Lord Wei of Shoreditch
”Changing the world and making an impact at scale is really tough and at times can be a lonely place. Future Planet Capital has managed to pull together globally an immense network of investors, founders, and experts to tackle the biggest challenges facing the world today. It is truly a fellowship, and a font of innovation, as well as being a premier fund platform. In these fast changing times it is so reassuring to know that there are innovators working on making the world a safer, cooler, and better place, whose chances of success are being supercharged through the FPC community.”
Jim Wilkinson, Chief Financial Officer, Oxford Science Enterprises
‘Future Planet Capital’s investment strategy offers not only something different, but something that has been lacking in this space. Its approach as well as its scope -involving a remarkable series of partnerships with leading universities and university venture funds – make it a very valuable strategic partner for anyone active in this field.’
Paul Abberley, Investment Governance Board Chair
CEO at Charles Stanley, one of the oldest firms on the London Stock Exchange. Previously the CEO / CIO of Aviva Investors.
‘Successful innovations deliver superior investment returns. When those innovations have a positive impact on broader society, the capital investments which makes them possible benefit all stakeholders. Responsible investing of this type is easy to envisage but harder to implement, because identification of suitable opportunities is so challenging. The Future Planet approach bridges that gap.’
Priya Guha OBE, Member of the Future Planet Capital Investment Governance Board
‘With the Chancellor firing the starting gun on this Government’s pension reforms in yesterday’s Mansion House Speech, I am delighted Future Planet Capital are able to announce they are in discussion with NatWest Cushon for an investment into the British Co-Investment Fund. With their strong reputation for investing in high-growth high-impact companies in the technology sector, Future Planet Capital’s BCF is exactly the right vehicle through which pension funds can back the scaling companies of the future; a win-win for British scale-ups and for British pensioners.’
Matthew Hurn OBE, Deputy Chair of Future Planet Capital’s Advisory Board
‘The UK Growth agenda presents an exciting opportunity and it is vital that we have in place the tools needed to fulfil this potential. I strongly welcome this partnership which signals an important step forward – helping to pave the way to greater financial growth while offering savers access to world leading, impactful innovation.’
View original content:https://www.prnewswire.co.uk/news-releases/dc-to-vc–natwest-cushon-and-future-planet-capital-lead-the-charge-in-uk-pension-access-to-british-innovation-302306339.html
-
Fintech3 days agoFintech Pulse: Industry Innovations and Partnerships Drive Global Fintech Forward
-
Fintech2 days agoFintech Pulse: Evolving Fintech Investments and Partnerships Signal Industry Transformation
-
Fintech PR7 days agoConverge Technology Solutions Named Solution Partner of the Year at the 2024 Ingram Micro ONE Innovation Summit
-
Fintech PR7 days agoManulife Investment Management aligns capabilities across regions under the newly created role of Global Emerging Market Equities CIO
-
Fintech PR7 days agoBybit and Block Scholes Uncover Post-Election Bullish Sentiment: Traders Lean Into Leveraged Longs Amid Stabilized Market
-
Fintech PR7 days agoPalm Jebel Ali Project Surges Ahead in 2024: Milestones Achieved in Record Time for Dubai’s Most Anticipated Development
-
Fintech PR7 days agoThe Trade Facilitation Commission release their report entitled ENSURING ECONOMIC GROWTH
-
Fintech PR6 days agoStatement From Universal Music Group N.V.