Medsol plans new diagnostic labs



Medsol, the Dubai-based medical services company, plans to double the number of diagnostic laboratories it operates in the Gulf as private medical care booms across the region. The size of the medical sector in the UAE was expected to reach nearly US$12 billion (Dh44.06bn) by 2015, more than tripling in size within a decade. Medsol, which is owned by Global Capital Management, the Kuwaiti private equity firm, planned to purchase an additional 16 laboratories to grow its specialised medical business in the GCC, a senior executive said. Its laboratories can perform roughly 4,000 different procedures including cholesterol checks, swine flu tests and MRI scans.

"We're looking to focus on existing private laboratories with a solid business plan to integrate within our organisation," said Ravi Dhir, the acting chief executive and vice president of Medsol's Kuwaiti operations. The expansion had been focused on Saudi Arabia, but more acquisitions in the UAE had not been ruled out, he added. Medsol now controls 10 laboratories in Dubai, five in Kuwait and one in Saudi Arabia.

As the UAE continued to make significant investments in health care, including a number of new hospitals and medical speciality centres under construction, the sector's value was expected to grow from approximately $3.2bn in 2005 to $11.9bn by 2015, according to Santeum Partners, a healthcare consultancy. "The region is very attractive to us because of the ageing population, amount of disposable income available and the insurance-based market forces," said Mr Dhir.

Since Medsol started in 2006 with four laboratories in Dubai, the diagnostic business had been a major revenue driver for the company, said Wayne Hidge, the finance director for Gulf Healthcare International, Medsol's parent company. "On average, our labs generate profit margins of about 65 per cent," he said, adding the company's capital was "sufficient" to meet its targets. The company had seen its revenues grow by 150 per cent and profit increase 100 per cent in the past two years, Mr Hidge said.

Diagnostic laboratories have a promising future in the region as pharmaceutical firms required local test results to fine-tune their drugs to better serve patients in the region, said Ruch de Silva, a consultant with Datamonitor. @Email:dgeorgecosh@thenational.ae

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How to protect yourself when air quality drops

Install an air filter in your home.

Close your windows and turn on the AC.

Shower or bath after being outside.

Wear a face mask.

Stay indoors when conditions are particularly poor.

If driving, turn your engine off when stationary.

Sri Lanka-India Test series schedule
  • 1st Test India won by 304 runs at Galle
  • 2nd Test India won by innings and 53 runs at Colombo
  • 3rd Test August 12-16 at Pallekele
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Farasan Boat: 128km Away from Anchorage

Director: Mowaffaq Alobaid 

Stars: Abdulaziz Almadhi, Mohammed Al Akkasi, Ali Al Suhaibani

Rating: 4/5

Plan to boost public schools

A major shake-up of government-run schools was rolled out across the country in 2017. Known as the Emirati School Model, it placed more emphasis on maths and science while also adding practical skills to the curriculum.

It was accompanied by the promise of a Dh5 billion investment, over six years, to pay for state-of-the-art infrastructure improvements.

Aspects of the school model will be extended to international private schools, the education minister has previously suggested.

Recent developments have also included the introduction of moral education - which public and private schools both must teach - along with reform of the exams system and tougher teacher licensing requirements.

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What is double taxation?
  • Americans living abroad file taxes with the Internal Revenue Service, which can cost hundreds of dollars to complete even though about 60 per cent do not owe taxes, according to the Taxpayer Advocate Service
  • Those obligations apply to millions of Americans residing overseas – estimates range from 3.9 million to 5.5 million – including so-called "accidental Americans" who are unaware they hold dual citizenship
  • The double taxation policy has been a contentious issue for decades, with many overseas Americans feeling that it punishes them for pursuing opportunities abroad
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COMPANY PROFILE
Name: HyperSpace
 
Started: 2020
 
Founders: Alexander Heller, Rama Allen and Desi Gonzalez
 
Based: Dubai, UAE
 
Sector: Entertainment 
 
Number of staff: 210 
 
Investment raised: $75 million from investors including Galaxy Interactive, Riyadh Season, Sega Ventures and Apis Venture Partners
Sustainable Development Goals

1. End poverty in all its forms everywhere

2. End hunger, achieve food security and improved nutrition and promote sustainable agriculture

3. Ensure healthy lives and promote well-being for all at all ages

4. Ensure inclusive and equitable quality education and promote lifelong learning opportunities for all

5. Achieve gender equality and empower all women and girls

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7. Ensure access to affordable, reliable, sustainable and modern energy for all

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9. Build resilient infrastructure, promote inclusive and sustainable industrialisation and foster innovation

10. Reduce inequality  within and among countries

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17. Strengthen the means of implementation and revitalise the global partnership for sustainable development

Living in...

This article is part of a guide on where to live in the UAE. Our reporters will profile some of the country’s most desirable districts, provide an estimate of rental prices and introduce you to some of the residents who call each area home.

A timeline of the Historical Dictionary of the Arabic Language
  • 2018: Formal work begins
  • November 2021: First 17 volumes launched 
  • November 2022: Additional 19 volumes released
  • October 2023: Another 31 volumes released
  • November 2024: All 127 volumes completed
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'Peninsula'

Stars: Gang Dong-won, Lee Jung-hyun, Lee Ra

Director: ​Yeon Sang-ho

Rating: 2/5

The five pillars of Islam

1. Fasting 

2. Prayer 

3. Hajj 

4. Shahada 

5. Zakat