Scope Investment and Asan Medical Center solidify their Partnership to Establish UAE's First Comprehensive Gastrointestinal Hospital

Scope Investment and Asan Medical Center, a renowned healthcare institution based in South Korea are furthering their partnership and have revealed notable progress in the development of Dubai's first comprehensive Gastroenterology Hospital. This collaborative effort signifies a momentous achievement in establishing the UAE's first all-encompassing Gastroenterology hospital in Dubai.

The agreement, signed on Thursday, 22nd June 2023, establishes the operation and management framework for the Asan GI Hospital-UAE, a 65-bed specialized facility dedicated to the treatment of gastrointestinal diseases. The hospital will provide comprehensive care for various gastrointestinal conditions, including those affecting the stomach, colon, liver, bile duct, pancreas, as well as pediatric gastrointestinal disorders.

This venture holds great importance for Scope Investment. It is a testament to the unwavering dedication and collective expertise of both organizations. The establishment of the UAE's first comprehensive GI hospital aligns perfectly with the broader healthcare strategy of Bright Medical Services, Scope Investment's healthcare arm, which focuses on service excellence in specialized hospitals, health clinics, pharmaceuticals and vaccine production and distribution, medical equipment, and advanced medical device distribution.

Asan GI Hospital-UAE will offer a wide range of advanced treatments and procedures, including minimally invasive techniques through endoscopy, surgical interventions for early-stage gastrointestinal cancers, bariatric surgery for obesity, and specialized care for pediatric patients. This hospital will address the existing gap in specialized treatment for gastrointestinal diseases in the region and set new standards in complex disease care.

The journey towards this groundbreaking endeavor began in 2019 with the collaboration between Asan Medical Center and Scope Investment. In 2020, a thorough feasibility study was conducted to analyze market dynamics and formulate operational and financial assumptions. In July 2021, the Joint Venture Agreement was signed, solidifying the commitment to this innovative project.

Through collective efforts, the joint venture company ASAN Specialty Hospital FZ - LLC was established in Dubai Healthcare City, followed by successfully securing land in Dubai Healthcare City Phase 2 for the hospital's construction. Detailed designs and building specifications have been finalized, and the tendering process to appoint contractors is currently underway. The groundbreaking ceremony is anticipated to take place within the next few months.

The signing of the Operations and Management Agreement signifies an important milestone in furthering the partnership between ASAN Medical Center and Scope Investment. Asan Medical Center will provide its esteemed services at the UAE ASAN GI Hospital, solidifying its commitment to deliver exceptional healthcare services in the UAE. Scope Investment's vision includes exploring opportunities for expanding this collaboration beyond gastroenterology and into other medical specialties, contributing to the advancement of healthcare in the GCC Region.

Moving forward, the partners remain committed to delivering the highest quality care by leveraging state-of-the-art facilities, cutting-edge technology, and a team of world-class professionals. This collaboration aims to revolutionize gastroenterology healthcare in the UAE, ensuring that patients receive the best treatment and achieve favorable outcomes.

CEO of Scope Investment, Fareed Bilbeisi stated "This is a transformative alliance that combines our collective expertise, resources, and dedication to deliver exceptional healthcare services. Together, we are committed to revolutionizing the healthcare landscape, setting new standards of care, and making a lasting impact on the well-being of individuals in the UAE and beyond."

President Seung-Il Park of Asan Medical Center expressed, "Leveraging our accumulated clinical experience and expertise, we are committed to fulfilling our role as a specialized hospital for the treatment of severely ill patients from the UAE.”

Scope Investment and Asan Medical Center express their sincere gratitude for the continued support and trust in this partnership. They are excited about the future and look forward to making a lasting impact on the healthcare landscape of the UAE.

About Scope Investment 

Scope Investment is a leading private investment group based in the UAE. 

Headquartered in Dubai, the Group is credited with niche projects built on the principle of sustainable, long-term value creation. Through a wide range of financial and investment strategies it caters to markets including GCC, Levant, and Africa to deliver both performance and impact. 

With deep sector knowledge and expertise, Scope Investment has adopted a stable and reliable approach to develop a substantial and diversified portfolio across healthcare, real estate, retail, automotive, and ICT (Information, Communication and Technology), covering direct and passive investments, and public equities. 

Committed to contributing to UAE’s economy and strengthening the global value chain, the Group has a pipeline of projects in key growth sectors to continue to build competencies in specialized fields.

Bright Medical Services, the healthcare division of Scope Investment, is dedicated to providing exceptional services in specialized hospitals, health clinics, pharmaceuticals, vaccine production and distribution, as well as the distribution of advanced medical equipment and devices.

About Asan Medical Center 

Asan Medical Center (AMC) is South Korea’s largest general tertiary-care hospital under Asan Foundation, founded by Chung Ju-yong, the founder of Hyundai Group. AMC has a total of 2,715 beds occupying about 85,000 square meters and has been leading medical developments and driving patient satisfaction. It is equipped with world-class medical professionals and optimal treatment systems based on advanced medical systems as well as cutting-edge medical equipment, and hence oversees 11,680 outpatients, 2,427 inpatients, and 256 emergency patients on average per day. 

Since its establishment in 1989, AMC has been globally recognized for its medical standards and expertise especially for severe diseases such as cardiovascular disease, cancer, and organ transplantation. Recently, Newsweek, a U.S weekly news magazine, released its ‘World's Best Hospitals 2021’ and ranked Asan Medical Center the first among Korean Hospitals for 3 

consecutive years and 34th among international hospitals. Also, it achieved a world-class medical reputation in major specialties among international hospitals: Endocrinology (4th), gastroenterology (6th), oncology (7th), neurology (8th), orthopedics (12th), and cardiology (36th).