Abu Dhabi’s Al Noor Hospitals Group expects to open two cancer care units in the emirate.
It will open a day surgery unit and another early detection unit as part of the existing Gulf International Cancer Centre (GICC) in Al Bahia off the Abu Dhabi-Dubai motorway.
With a capacity of 1,400 patients a year, the centre receives 700 cases annually. More than a third of them are Emiratis.
The group expects to recruit about 50 additional doctors by the end of the year.
Breast cancer is the most common form of the disease that GICC handles, accounting for 40 per cent of the cases, followed by malignant lymphoma, brain cancer and gastrointestinal and urinary system cancer.
“Early detection results in a 70 per cent to 80 per cent cure rate in breast cancer cases, 80 per cent in prostate cancer, and 90 per cent to 100 per cent in early vocal cord cancer, while the complete recovery of patients with lung cancer and pancreatic cancer may be difficult to achieve when diagnosed at late stages,” said Dr Aly Abdel Razek, the executive director and chief of radiation oncology at GICC.
Al Noor paid US$21.8 million for GICC’s acquisition, which was completed in February. It is the only private cancer treatment centre in Abu Dhabi.
“Developing a cancer centre is challenging because of the rarity of expertise in the region, high capital expenditure required and long gestation period,” said Dr Kassem Alom, the chief executive of Al Noor Hospitals, in a financial statement released last week on the London Stock Exchange, where it is listed.
The Abu Dhabi company posted a 22 per cent increase in operating profit in the first half of the year to US$46.2 million because of an increase in outpatient volumes.
The company’s net cash decreased 1.9 per cent to $86.3m as it made acquisitions such as GICC.
The centre has outpatient and inpatient facilities. The average revenue per outpatient across the group rose 10.5 per cent to $168.
Inpatient volumes were more muted, rising by 1.1 per cent, held in check by the renovations at the Khalifa Street Hospital and competition from new hospitals in the city that opened last year, according to an analyst note from Deutsche Bank’s Marc Hammoud. The average revenue per inpatient rose 9.3 per cent to $2,431.
“We estimate top-line growth coming from the three recent acquisitions at 8 to 9 per cent,” Mr Hammoud wrote.
Last year, Al Noor acquired a chain of Al Madar Medical Centers and Manchester Clinic, a polyclinic in Jumeirah, Dubai.
Dr Alom will step down on October 1 as part of a planned succession but will continue as the non-executive deputy chairman.
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Key facilities
- Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
- Premier League-standard football pitch
- 400m Olympic running track
- NBA-spec basketball court with auditorium
- 600-seat auditorium
- Spaces for historical and cultural exploration
- An elevated football field that doubles as a helipad
- Specialist robotics and science laboratories
- AR and VR-enabled learning centres
- Disruption Lab and Research Centre for developing entrepreneurial skills
COMPANY PROFILE
Name: Almnssa
Started: August 2020
Founder: Areej Selmi
Based: Gaza
Sectors: Internet, e-commerce
Investments: Grants/private funding
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Dubai Bling season three
Cast: Loujain Adada, Zeina Khoury, Farhana Bodi, Ebraheem Al Samadi, Mona Kattan, and couples Safa & Fahad Siddiqui and DJ Bliss & Danya Mohammed
Rating: 1/5
What is a robo-adviser?
Robo-advisers use an online sign-up process to gauge an investor’s risk tolerance by feeding information such as their age, income, saving goals and investment history into an algorithm, which then assigns them an investment portfolio, ranging from more conservative to higher risk ones.
These portfolios are made up of exchange traded funds (ETFs) with exposure to indices such as US and global equities, fixed-income products like bonds, though exposure to real estate, commodity ETFs or gold is also possible.
Investing in ETFs allows robo-advisers to offer fees far lower than traditional investments, such as actively managed mutual funds bought through a bank or broker. Investors can buy ETFs directly via a brokerage, but with robo-advisers they benefit from investment portfolios matched to their risk tolerance as well as being user friendly.
Many robo-advisers charge what are called wrap fees, meaning there are no additional fees such as subscription or withdrawal fees, success fees or fees for rebalancing.
How to avoid crypto fraud
- Use unique usernames and passwords while enabling multi-factor authentication.
- Use an offline private key, a physical device that requires manual activation, whenever you access your wallet.
- Avoid suspicious social media ads promoting fraudulent schemes.
- Only invest in crypto projects that you fully understand.
- Critically assess whether a project’s promises or returns seem too good to be true.
- Only use reputable platforms that have a track record of strong regulatory compliance.
- Store funds in hardware wallets as opposed to online exchanges.
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Publisher: Namco Bandai
Price: Dh199
How to get exposure to gold
Although you can buy gold easily on the Dubai markets, the problem with buying physical bars, coins or jewellery is that you then have storage, security and insurance issues.
A far easier option is to invest in a low-cost exchange traded fund (ETF) that invests in the precious metal instead, for example, ETFS Physical Gold (PHAU) and iShares Physical Gold (SGLN) both track physical gold. The VanEck Vectors Gold Miners ETF invests directly in mining companies.
Alternatively, BlackRock Gold & General seeks to achieve long-term capital growth primarily through an actively managed portfolio of gold mining, commodity and precious-metal related shares. Its largest portfolio holdings include gold miners Newcrest Mining, Barrick Gold Corp, Agnico Eagle Mines and the NewMont Goldcorp.
Brave investors could take on the added risk of buying individual gold mining stocks, many of which have performed wonderfully well lately.
London-listed Centamin is up more than 70 per cent in just three months, although in a sign of its volatility, it is down 5 per cent on two years ago. Trans-Siberian Gold, listed on London's alternative investment market (AIM) for small stocks, has seen its share price almost quadruple from 34p to 124p over the same period, but do not assume this kind of runaway growth can continue for long
However, buying individual equities like these is highly risky, as their share prices can crash just as quickly, which isn't what what you want from a supposedly safe haven.
Living in...
This article is part of a guide on where to live in the UAE. Our reporters will profile some of the country’s most desirable districts, provide an estimate of rental prices and introduce you to some of the residents who call each area home.
Formula Middle East Calendar (Formula Regional and Formula 4)
Round 1: January 17-19, Yas Marina Circuit – Abu Dhabi
Round 2: January 22-23, Yas Marina Circuit – Abu Dhabi
Round 3: February 7-9, Dubai Autodrome – Dubai
Round 4: February 14-16, Yas Marina Circuit – Abu Dhabi
Round 5: February 25-27, Jeddah Corniche Circuit – Saudi Arabia
What can you do?
Document everything immediately; including dates, times, locations and witnesses
Seek professional advice from a legal expert
You can report an incident to HR or an immediate supervisor
You can use the Ministry of Human Resources and Emiratisation’s dedicated hotline
In criminal cases, you can contact the police for additional support
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Our family matters legal consultant
Name: Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.
Game Changer
Director: Shankar
Stars: Ram Charan, Kiara Advani, Anjali, S J Suryah, Jayaram
Rating: 2/5
Fixtures and results:
Wed, Aug 29:
- Malaysia bt Hong Kong by 3 wickets
- Oman bt Nepal by 7 wickets
- UAE bt Singapore by 215 runs
Thu, Aug 30: UAE v Nepal; Hong Kong v Singapore; Malaysia v Oman
Sat, Sep 1: UAE v Hong Kong; Oman v Singapore; Malaysia v Nepal
Sun, Sep 2: Hong Kong v Oman; Malaysia v UAE; Nepal v Singapore
Tue, Sep 4: Malaysia v Singapore; UAE v Oman; Nepal v Hong Kong
Thu, Sep 6: Final