Baraya Extended Care closes Series B funding round bringing total capital raised to $124mln
Dubai, UAE; Riyadh, Saudi Arabia – TVM Capital Healthcare announces the closing of a Series B fundraising, surpassing its target and bringing the total capital raised to USD 124 million for Baraya Extended Care ['Baraya'], a leading provider of long-term care and rehabilitation services in Saudi Arabia.
This fundraise comes at a critical moment, as Saudi Arabia faces a rapidly aging population, rising incidences of chronic conditions, and increased demand for specialized post-acute care driven by the Kingdom's ambitious Vision 2030 and Health Sector Transformation Program. According to the Saudi Ministry of Health, 14% of acute care beds in public hospitals are occupied by long-stay (long-term care) patients. This figure is even higher in some regions, such as Jeddah (19%) and Riyadh (17%).
The capital provided by the TVM Healthcare Afiyah Fund and co-investors, including Olayan Financing Company, Saudi Economic and Development Holding Company (SEDCO), ANB Capital, and SVC, among others, will enable Baraya to expand its network of high-quality inpatient facilities and outpatient rehabilitation clinics, directly addressing the Kingdom's urgent need for dedicated extended care services.
Launched in 2023 by TVM Capital Healthcare, Baraya Extended Care has opened two outpatient rehabilitation clinics in Riyadh and Jeddah, with the combined capacity of 9,000+ sessions per month and is planning to admit patients in its first 216-bed long-term care and rehabilitation hospital by the beginning of 2026.
This investment builds on TVM Capital Healthcare's proven track record in developing and scaling post-acute care providers across the Middle East. Previous investments in the sector included ProVita International Medical Center and Cambridge Medical & Rehabilitation Center (CMRC). In its prior extended care investments, the firm helped establish regulatory frameworks with healthcare authorities, developed specialized operations management and workforce pipelines, and integrated international best practices and accreditations — all of which position Baraya for accelerated growth.
'Our mission is to provide a comprehensive range of extended care and rehabilitation services, addressing a critical need in the Kingdom,' said Jad Halaby, Chief Executive Officer of Baraya Extended Care. 'With TVM Capital Healthcare's support and expertise in this healthcare vertical, we are uniquely positioned to combine international standards with local expertise, improving outcomes and quality of life for patients and families across Saudi Arabia.'
Dr. Helmut Schuehsler, Chairman and CEO of TVM Capital Healthcare, responded, 'We're proud to report on this significant financing round for Baraya Extended Care, backed by major Saudi institutions and families. Since 2010, TVM Capital Healthcare has been the only international healthcare private equity firm with a sustained presence and proven track record of building, scaling, and exiting high-quality healthcare businesses in the Kingdom. Our success with ProVita and CMRC helped shape Saudi Arabia's extended care sector, and Baraya marks the next chapter—advancing Vision 2030 through innovative, integrated care models.'
Orhan Osmansoy, Managing Partner at TVM Capital Healthcare and deal lead at the firm, added: "We are grateful to our co-investors and syndicate partners for their strong participation in this oversubscribed round and their shared commitment to solving some of the Kingdom's most pressing healthcare challenges. With a scalable platform and plans to increase capacity to approximately 650 beds in the coming years, Baraya is well-positioned to become a leader in extended care services.'
The investment will support Baraya's ambitious growth plans, including the development of major inpatient facilities and outpatient clinics across the Kingdom in a hub-and- spoke model. The company is creating a scalable blueprint for long-term and post-acute care that will not only transform care delivery in Saudi Arabia but also holds strong potential for replication in other markets facing similar demographic and healthcare challenges, including Southeast Asia.
For more information about Baraya Extended Care, visit baraya.com.sa.
For more information about TVM Capital Healthcare, visit tvmcapitalhealthcare.com.
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