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Saturday, July 23, 2022

Gulf News - For ADX-listed Response Plus, expansions into Saudi Arabia, India bode well

By Century Financial in Century in News

Gulf News - For ADX-listed Response Plus,...
Vijay Valecha, Special to Gulf News July 23, 2022

A subsidiary of ADX-listed IHC, Response Plus Holding has a market cap of Dh1.61 billion and offers medical services to the oil and gas industry, job sites, educational institutions, airports and seaports. That also means supplying doctors, nurses, paramedics, and other medical professionals.

Response’s infrastructure includes a fleet of over 250 ambulances, 260 plus onsite clinics, a 1,600 strong workforce and aligning with 300 plus events a year. The healthcare provider had a strong first quarter ending March 31, with a net profit of Dh14.31 million as opposed to a loss of Dh1 million during the same period a year ago. RPM had Dh 87.7 million in revenues, demonstrating a phenomenal growth and an outline of what it can achieve in future.

Projects handled during this time includes those for UAE University, NPCC Saudi Arabia, Al Qana, OXY, Saif Bin Darwish, Al Ahali Club Dubai, Formula 1 Saudi Arabia 2022, and many others. The cash and bank Balances also improved, resulting in assets of Dh295.3 million compared to Dh 292.3 million on December 31, 2021.

Expansion in Saudi Arabia, India

As Saudi Arabia broadens the breadth of its tourist and hospitality industries, the UAE company, there will be a greater demand for projects and on-site medical care. Abu Dhabi-based Response Plus is working with several entities in the NEOM smart city and hoping to serve Saudi Aramco.

On June 28, it incorporated a company called Response Plus India, starting another phase of its expansion. RPM is committed to expansions in Saudi Arabia, Egypt, Ethiopia, and India, which will undoubtedly produce positive financial outcomes for the healthcare provider in the second-half of this year and beyond. Response Plus is likely to continue to develop new strategic businesses and relationships while laying a strong foundation and regional presence.

Source:
Gulf News