Long-term care and rehabilitation services provider Baraya Extended Care has closed a Series B fundraising round, securing $124m to expand its network of inpatient facilities and outpatient clinics across Saudi Arabia.
Led by TVM Capital Healthcare through its TVM Healthcare Afiyah Fund, the funding also includes contributions from co-investors and exceeded its initial target.
Baraya Extended Care CEO Jad Halaby said: “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.”
This financial milestone arrives at a time when the nation is grappling with an aging population, a rise in chronic conditions, and a growing demand for specialised post-acute care.
These challenges are part of the broader context of Saudi Arabia’s Vision 2030 and Health Sector Transformation Program.
Baraya Extended Care, established in 2023, has already inaugurated two outpatient rehabilitation clinics in Jeddah and Riyadh, delivering over 9,000 sessions monthly.
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By GlobalDataThe company also plans to open a 216-bed long-term care and rehabilitation hospital by early 2026.
TVM Capital Healthcare’s investment in Baraya builds on its experience in the Middle Eastern post-acute care market, including previous investments in ProVita International Medical Center and Cambridge Medical & Rehabilitation Center (CMRC).
In these ventures, TVM Capital Healthcare played a role in shaping regulatory frameworks and developing specialised management and workforce strategies.
TVM Capital Healthcare managing partner and deal lead Orhan Osmansoy said: “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 bolster Baraya’s growth strategy, which encompasses the establishment of major inpatient facilities and outpatient clinics, following a hub-and-spoke model.
