UAE – Response Plus Medical Holding (RPM), an associate of Alpha Dhabi Holding, has announced plans to expand into India and Africa after making its market debut on the Abu Dhabi Securities Exchange (ADX) Second Market.
Established in 2010, RPM prides itself as UAE’s largest providers of on-site healthcare management, with over 1600 employees and paid in capital of US$54 million (AED200 million).
The company specializes in in medical emergency transfers from remote work sites with over 260 medical facilities, as well as a fleet of over 160 ambulances, one of the largest in the region.
As a provider of medical support for the oil and gas sector, chemical industries, construction sites, has operations in the UAE, Saudi Arabia, and Oman, RPM is on the wheels of implementing a strategy to expand further in the GCC, Africa and India over the next five years.
RPM was brought onto the ADX by Alpha Dhabi Holding, one of the fastest-growing investment holding companies in the Middle East, and a leading real estate and construction company in the UAE.
“We are excited to be bringing RPM on to the ADX Second Market. RPM has grown rapidly into a leader in healthcare management and medical emergency transfers, providing innovative and accessible solutions to corporate clients,” Hamad Al Ameri, managing director and CEO of AlphaDhabi, said.
Alpha Dhabi listed on the main board of ADX in June through which it aims to expose RPM’s exciting growth prospect with a broader base of investors.
“ADX is becoming increasingly vibrant due to a strong pipeline of listings, and a broadening offering of products and services. By connecting growth companies such as RPM to significant pools of regional liquidity and major global investors, the exchange will play a key role in the region’s economic development in the coming years,” Saeed Hamad Al Dhaheri, CEO of ADX, said.
RPM is the 13th company to list on ADX’s Second Market since it was established in 2014. Market capitalization of the Second Market by the end of August reached AED38 billion (US$10.46 billion), an increase of 273 percent compared to the same period last year.
“Listing on ADX is a major milestone in RPM’s development into a leading healthcare company in the region. The company has built a strong track record in serving the specialist medical needs of major industries such as energy and construction,” Dr Shamsheer Vayalil, chairman of RPM, said.