The Oncorad group, specializing in the private health sector, announced an investment program of 3.5 billion dirhams (around $350 million) for the construction of thirty new hospitals by 2028. This project is intended to support the kingdom’s medical infrastructure, said Redouane Semlali, president and CEO of the company, in an interview with Asharq.
Created in 2000, Oncorad initially focused on cancer treatment before diversifying its activities. Currently, the group manages seven hospital establishments spread across the main Moroccan cities, covering various medical specialties. With a total capacity of more than 400 beds, the company intends to increase this capacity sevenfold over the next three years.
The Moroccan health system suffers from a chronic deficit in terms of hospital beds, doctors and nursing staff. Faced with these challenges, the kingdom launched a vast program in 2021 to generalize medical coverage to the entire population. This reform has stimulated increased interest in private investment in the sector in a context where demand for hospital care continues to grow.
-Funding and expansion
To finance its expansion projects, Oncorad will rely on a mix of bank loans, investments from specialized funds and its own resources, said Mr. Semlali. Asked about a possible IPO, he does not exclude this option but emphasizes that it does not constitute an immediate priority. “Our main objective is the development and expansion of the network of establishments”he said.
