The 50 Richest Indian in the GCC 2015 - Education and Healthcare
Arabian Business counts down the wealthiest Indians living in the Middle East
04. BR Shetty
\nThe man from Mangalore made global headlines last year with his eye-catching takeover of exchange giant Travelex.
\nCompleted just two weeks ago, the deal will see Travelex merged with Shetty’s home-grown giant UAE Exchange — with the new merged company all set to list in Abu Dhabi by 2017. If anything, the deal proves Shetty’s determination to keep on building what is already an impressive portfolio of businesses. Shetty is pretty much an institution in his own right having created one of the UAE’s best-known medical outfits. He is considering opening hospitals in Saudi Arabia and Qatar, with further expansion across the MENA region once political stability returns.
\nShetty arrived in Abu Dhabi in 1973, establishing New Medical Centre (NMC) two years later.
\nHe also quickly set up UAE Exchange, which accounts for 12 percent of all remittances to India. Shetty was awarded the Pravasi Bharatiya Samman in 2007, and the Padma Shri in 2009 for his services to trade and industry.
10.Dr. Shamsheer Vayalil
\nDr. Shamsheer Vayalil is one the leading lights of the healthcare industry and serves as Managing Director at VPS Healthcare.
\nIn a short span of only eight years, Dr. Shamsheer has established a truly integrated, end-to-end, healthcare organization, delivering quality healthcare that fulfills the needs of the community. A humble, yet ambitious beginning with one hospital in 2007 is now a fully integrated healthcare business with thousands of employees, more than 600 doctors; 11 multispecialty hospitals, pharmaceutical manufacturing unit and healthcare support services spread across the Middle East, Europe and India.
\nMoreover, with the perfect vision and strategy, Dr. Shamsheer expanded the hospital to include on-site clinics, one of the largest pharmaceutical manufacturing in the GCC and international retail chain, out-of-hospital services and IT services to provide comprehensive healthcare services.\nDr Shamsheer Vayalil’s net worth at market valuation currently stands at US$ 1.37 billion.
12. Dr Azad Moopen
\nThe second health–care mogul in this year’s list, Azad Moopen has overseen DM Healthcare’s expansion from a few small clinics to an empire of hospitals, medical centres and pharmacies across not only most of the GCC countries, but India too. Across its network, DM Healthcare treats a whopping 8 million patients every year.
\nThe Dubai-based firm, founded in 1987, is now one of the region’s largest private healthcare providers.
\nUnder the corporate brand Aster, the group now employs more than 5,000 people and anticipated revenues of $500m for the 2012 financial year, about 30 percent to 40 percent growth compared to 2011. Moopen, who recently turned 60 years old, says that DM Healthcare is looking to expand aggressively not only in the immediate region, but possibly worldwide in the coming years.
\nLast year, Arabian Business was granted access to detailed statements from Dr Moopen’s company. His 57 percent stake in his company, which has an enterprise value of around $1.8bn, forms by far the biggest portion of his wealth.\nHe also has a 90 percent stake in an educational institute in India, as well as personal immovable assets of $50m.
\nAltogether, DM Healthcare has a chain of six hospitals in India, and is planning to add six more hospitals to the five it already runs in the Gulf over the next two years.
27. Thumbay Moideen
\nBy 1997, Thumbay Moideen had been travelling to the UAE on business for five years. A third-generation businessman, he was well aware of the Gulf state’s growing acumen for money-making opportunities.
\nBut it was not until a chance meeting with the Ruler of Ajman, Sheikh Humaid Bin Rashid Al Nuaimi, that the middle-aged father of two decided it was time to move.
\n“It was an accidental meeting with His Highness,” Moideen told us last year. That meeting resulted in Moideen setting up the Gulf Medical University. Nowadays, the group employs more than 1,500 staff, and is hoping to hire more than 7,000 in the next five years.
31. Zulekha Daud
\nZulekha Healthcare Group
\nDr Zulekha Daud left India over 40 years ago and came to the UAE with a dream to offer affordable quality medical facilities to all. In the process, she became the first female Indian doctor in what was then the Trucial States. She set up the Zulekha Healthcare Group in 1961 and quickly went from being a young medical graduate to a practising physician serving patients from all walks of life. Her company now employs around 1,050 staff and treats over 550,000 patients per year. As well as running hospitals in Dubai and Sharjah, the firm also oversees two medical centres and three pharmacies.
39. Sunny Kurian
\nDr Sunny Healthcare Group
\nSet up by dr Sunny Kurian in 1990, the Sharjah-based Dr Sunny Healthcare Group has gone from strength to strength. After earning a medical degree from Mysore University, Kurian teamed up with his wife to offer specialist paediatric and GP services in Sharjah. The group has since expanded to include six clinics in the emirate, while also expanding into pharmaceuticals. In addition, Kurian has also set up education facilities in Sharjah and Ajman, as well as expanding into healthcare projects back in India. He is a founding trustee of the Indian Business and Professional Council (IBPC).