Mubasher: Burjeel Holdings joined forces with Leejam Sports Company (Fitness Time) and inaugurated its network of advanced physiotherapy, rehabilitation, and wellness centres in Riyadh, according to a press release.
The two companies developed PhysioTherabia, a joint venture (JV) that will offer a comprehensive range of specialised services, including musculoskeletal rehabilitation, pediatric rehabilitation, sports injury rehabilitation, spinal and back rehabilitation, and hyperbaric oxygen therapy (HBOT).
The newly-opened centres mark the first of 60 to be established within and outside the Saudi firm's gyms across the Kingdom. Meanwhile, the coming 16 centres are scheduled to launch soon.
They will be strategically distributed across key locations, including 10 in Riyadh, two in Jeddah, and one each in Dammam, Al Khobar, the Northern Region, and the Southern Region.
The inauguration aligns with Burjeel’s expansion plan to launch the largest network in the Kingdom and follows its agreement with Fitness Time that was signed in February 2023 to anchor sports healthcare services in Saudi Arabia.
The UAE group expected that the network of 60 PhysioTherabia centres will contribute at least AED 600 million to the group’s revenue by 2027, with a 30% rise in earnings before interest, taxes, depreciation, and amortisation (EBITDA) margin.
Abdulmohsen Al Ashry, Regional CEO of Burjeel Holdings, noted: “By launching our centers in the Kingdom, we look forward to supplementing its vision to become a global sports and healthcare hub.”
Shadan Alsagri, Deputy CEO of Fitness Time, commented: “The launch of the Physiotherapy centres is a major step in consolidating the Kingdom’s position as a leading global center for advanced physiotherapy, rehabilitation, and wellness services.”
In the first half (H1) of 2023, the ADX-listed company logged net profits attributable to the owners valued at AED 213.68 million, higher by 47% than AED 143.30 million in H1-22.
As of 30 June 2023, the net profits after Zakat and tax of Fitness Time hiked by 64.76% year-on-year (YoY) to SAR 135.10 million from SAR 82 million.
