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Saudi Arabia's rapidly growing healthcare sector just witnessed a major financial heartbeat. Baraya Extended Care, a provider of long-term, rehabilitation, and home healthcare services, announced Tuesday that it secured $124 million in an oversubscribed Series B funding round, supercharged by TVM Capital Healthcare as lead investor.

This strategic infusion of capital marks a pivotal moment for the Riyadh-based healthcare firm, which aims to build a network of inpatient and outpatient clinics using a hub-and-spoke model to tackle Saudi Arabia’s mounting post-acute care crisis.

A Vision Rooted in Urgency — and Opportunity

Founded in 2023 by TVM Capital Healthcare, Baraya has already opened two outpatient rehabilitation centers in Riyadh and Jeddah, with a combined capacity exceeding 9,000 monthly sessions. The company now plans to open its first 216-bed long-term care and rehab hospital by early 2026 — a cornerstone of its broader nationwide network.

“Our mission is to provide a comprehensive range of extended care and rehabilitation services, addressing a critical need in the Kingdom,” said Baraya CEO Jad Halaby. “With TVM Capital Healthcare’s support, we’re combining international standards with local expertise to transform patient outcomes.”

Backed by Giants, Built for the Future

The Series B round was led by TVM Healthcare Afiyah Fund, joined by heavy-hitting co-investors including Olayan Financing Company, Saudi Arabia Economic Development and Holding Company, ANB Capital, and SVC. The capital will be used to build new inpatient facilities and expand outpatient rehabilitation clinics, meeting the growing needs of an aging population and rising chronic illness rates.

“We’re proud to report on this significant financing round, backed by major Saudi institutions and families,” said TVM Capital Healthcare Chairman & CEO Helmut Schuehsler. “Since 2010, we’ve built a proven track record of scaling and exiting high-quality healthcare businesses across the Kingdom.”

Strategic Growth Meets Systemic Demand

With Saudi Arabia’s Vision 2030 reform plan emphasizing private sector healthcare participation, Baraya’s timing couldn’t be more aligned. As chronic conditions rise and specialized post-acute care demand escalates, Baraya’s tech-integrated, high-capacity care facilities aim to fill a dangerous void in the current system.

The company emphasized that this latest capital raise comes at a “critical moment” for the Kingdom’s healthcare ecosystem — positioning Baraya as a first-mover in a field long overshadowed by acute and primary care services.

Legal and Advisory Support

TVM Capital Healthcare was advised by Morgan Lewis & Bockius LLP, though full legal counsel details were not immediately disclosed.

Baraya’s rapid ascent from startup to scale-up signals a broader paradigm shift in Middle East healthcare investment, where long-term care and rehab services are no longer a niche — but a necessity.