KOCHI: Response Plus Medical Holding (RPM), owned by Malayali businessman Dr Shamsheer Vayalil, and one of the UAE’s largest providers of on-site healthcare management, made its market debut by listing on Abu Dhabi Securities Exchange (ADX) Second Market.
RPM is an associate of ADX-listed Alpha Dhabi Holding PJSC (AlphaDhabi). Trading under the ticker RPM, Response Plus Medical Holding, was established in 2010 and the company employs over 1,600 people. It has a paid-in capital of AED 200 million.
Hamad Al Ameri, managing director and CEO of AlphaDhabi said: “We are excited to be bringing RPM, on to the ADX Second Market. By taking RPM public, we can share this exciting growth prospect with a broader base of investors.”
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.
Alpha Dhabi Holding PJSC, which was 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 of ADX said: “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. The 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 Shamsheer Vayalil, who also owns Kochi-based VPS Lakeshore, said the listing of RPM on ADX is a major milestone in the company's development into a leading healthcare company in the region. 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,” said Dr. Vayalil, who is the son-in-law NRI businessman M A Yusuff Ali.