TVM Capital Healthcare has closed its Series B funding round for Baraya Extended Care, raising a total of $124 million—more than its original goal. Baraya is a leading provider of long-term care and rehabilitation services in Saudi Arabia.
This funding arrives at a crucial moment. Saudi Arabia has a growing elderly population and more people with chronic illnesses. As a result, there’s a higher need for specialized care after hospital stays. According to the Saudi Ministry of Health, approximately 14% of hospital beds in public hospitals are occupied by patients with long-term conditions. In some cities, such as Jeddah and Riyadh, this number is even higher, at 19% and 17%, respectively.
The money was raised from the TVM Healthcare Afiyah Fund and other investors like Olayan Financing Company, SEDCO, ANB Capital, and Saudi Venture Capital (SVC). These funds will help Baraya expand its network of long-term care hospitals and rehabilitation clinics, directly addressing the country’s urgent healthcare needs.
Baraya was launched in 2023 by TVM Capital Healthcare. It has already opened two outpatient clinics in Riyadh and Jeddah, which can handle over 9,000 therapy sessions each month. The company also plans to open a 216-bed hospital for long-term care and rehab by early 2026.
TVM Capital Healthcare has a strong history of building successful post-hospital care centers in the Middle East, including ProVita and Cambridge Medical & Rehabilitation Center. They’ve worked closely with health authorities to establish rules, train staff and implement global standards—experience that will help Baraya grow quickly and effectively.
“Our mission is to provide a comprehensive range of extended care and rehabilitation services, addressing a critical need in the Kingdom,” said Jad Halaby, Chief Executive Officer of Baraya Extended Care. “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.”
Dr. Helmut Schuehsler, Chairman and CEO of TVM Capital Healthcare, responded, “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.”
Orhan Osmansoy, Managing Partner at TVM Capital Healthcare and deal lead at the firm, added: “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.”
The investment will support Baraya’s ambitious growth plans, including the development of major inpatient facilities and outpatient clinics across the Kingdom utilizing a hub-and-spoke model. The company is creating a scalable blueprint for long-term and post-acute care that will not only transform care delivery in Saudi Arabia but also holds strong potential for replication in other markets facing similar demographic and healthcare challenges, including Southeast Asia.
Read more- PayU India Gets Additional INR 303 Crore Investment from Prosus
