Hayati launches healthcare finance in UAE

Hayati Healthcare, a new company that will provide financing to patients who want elective surgery or need additional funds to go to a top-tier facility in the country, launched yesterday, executives said. The company now has a dozen clinics in its network and is accepting loan applications, said Michael Matly, the chief executive and chairman of Hayati. He said the company was a natural follow-up to the modernising health care systems in Abu Dhabi and Dubai, where high-end facilities like the Cleveland Clinc and Mayo Clinic were setting up.

"When you start seeing these top-tier clinics come, they are going to cost more," Dr Matly said. "This is a really good complement to changes happening here and in the region." The loans would also be used for such things as dental work, emergency surgery and aesthetic treatments like Lasik eye surgery. According to the Hayati website, interest rates for the loans range from 1 per cent to 1.25 per cent, depending on the procedure and the person's credit rating.

Hayati was started up with seed funding from the Arab Business Angels Network, which is owned by Dubai International Capital, and Gulf Finance, which is also underwriting the loans. bhope@thenational.ae