AlphaDhabi’s Response Plus Medical Holding lists on ADX Second Market…reports Asian Lite News
Response Plus Medical Holding (RPM), an associate of ADX-listed Alpha Dhabi Holding PJSC (AlphaDhabi), made its market debut today on the Abu Dhabi Securities Exchange (ADX) Second Market.
Trading under the ticker RPM, Response Plus Medical Holding is one of the UAE’s largest providers of on-site healthcare management, with over 1,600 employees and paid-in capital of AED 200 million. Established in 2010, the company specialises 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.
RPM, which provides medical support for the oil and gas sector, chemical industries, construction sites, has operations in the UAE, Saudi Arabia, and Oman, and is implementing a strategy to expand further in the GCC, Africa and India over the next five years.
Hamad Al Ameri, Managing Director and CEO of AlphaDhabi, said: “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. The company is executing a well-defined five-year strategy to expand into new markets, and to integrate and launch new services. By taking RPM public, we can share this exciting growth prospect with a broader base of investors.”
Alpha Dhabi Holding PJSC, which listed on the main board of ADX in June 2021, is one of the fastest-growing investment holding companies in the Middle East, and a leading real estate and construction company in the UAE.
SAEED HAMAD AL DHAHERI, CHIEF EXECUTIVE OFFICER, ADX: “I am pleased to welcome RPM as the latest listing on the Abu Dhabi Securities Exchange. 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.”
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 AED 38 billion an increase of 273% compared to the same period last year.
DR. SHAMHEER VAYALIL, CHAIRMAN, RPM: “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. We are now expanding geographically and enhancing our offering of services, ensuring that the company benefits even further from economies of scale and opportunities to grow our client base significantly. This is an exciting time to be part of the RPM growth story.”