Baraya Extended Care, a provider of long-term care and rehabilitation services in Saudi Arabia, has successfully completed its Series B funding round, raising a total of $124 million, led by TVM Capital Healthcare.
This funding arrives at a critical juncture for Saudi Arabia, which is facing a rapidly aging population and an increasing demand for specialized post-acute care, driven by Vision 2030 and the Health Sector Transformation Program. Currently, 14% of acute care beds in public hospitals are occupied by long-stay patients, with rates reaching 19% in Jeddah and 17% in Riyadh.
The capital from the TVM Healthcare Afiyah Fund and other co-investors will enable Baraya to expand its network of high-quality inpatient facilities and outpatient rehabilitation clinics, addressing the urgent need for extended care services.
Launched in 2023, Baraya has opened two outpatient clinics in Riyadh and Jeddah, with plans to admit patients to its first 216-bed long-term care and rehabilitation hospital by early 2026.
Building on TVM Capital Healthcare’s strong history in post-acute care, this investment will support Baraya’s growth plans, including the development of major facilities across the Kingdom. The company aims to create a scalable model for long-term care that could be replicated in other markets facing similar challenges, such as Southeast Asia.
KEY QUOTES:
“Our mission is to provide a comprehensive range of extended care and rehabilitation services, addressing a critical need in the Kingdom. 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.”
Jad Halaby, Chief Executive Officer of Baraya Extended Care
“We’re proud to report on this significant financing round for Baraya Extended Care, backed by major Saudi institutions and families. Since 2010, TVM Capital Healthcare has been the only international healthcare private equity firm with a sustained presence and proven track record of building, scaling, and exiting high-quality healthcare businesses in the Kingdom. Our success with ProVita and CMRC helped shape Saudi Arabia’s extended care sector, and Baraya marks the next chapter—advancing Vision 2030 through innovative, integrated care models.”
Dr. Helmut Schuehsler, Chairman and CEO of TVM Capital Healthcare
“We are grateful to our co-investors and syndicate partners for their strong participation in this oversubscribed round and their shared commitment to solving some of the Kingdom’s most pressing healthcare challenges. 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.”
Orhan Osmansoy, Managing Partner at TVM Capital Healthcare and deal lead at the firm
