Having been established through the vision and ambition of one doctor-turned-entrepreneur, DM Healthcare is a remarkable growth story. The company is embarking on a new chapter in its history, with plans to dominate the healthcare sector in the GCC and India.
Already positioned as the largest pharmacy chain in the UAE, DM Healthcare is now focused on developing its reputation as a regional operator of hospitals and clinics. The profits offered by pharmacies are much lower than those from hospitals and clinics as the prices for drugs are subject to government control.
Its change in strategy has come at exactly the right time; compulsory private health insurance is being rolled out across the GCC and this is set to increase demand for healthcare services. Even within the UAE, the company has plenty of opportunity still to grow – it does not yet have a significant presence in Abu Dhabi or the other emirates.
But it is the large populations of Saudi Arabia and India that offer the most potential. The capacity for paying for health services is growing in these countries and DM Healthcare has formed strategic local partnerships to ensure it can take a major share of the market.
Its decision to make an early move into these territories will give it a distinct advantage over the competition that is certain to follow. Moopen is confident the firm will be able to meet its ambitious 2015 target and given his personal determination and success to date, few should doubt him.