TVM Capital Healthcare has successfully closed a Series B fundraising round, surpassing its target and raising $124 million for Baraya Extended Care, a leading provider of long-term care and rehabilitation services in Saudi Arabia. The funding marks a strategic milestone in advancing Saudi Arabia’s Vision 2030 and addressing a growing demand for specialized post-acute healthcare.
This capital raise arrives at a crucial time. Saudi Arabia’s aging population and increasing prevalence of chronic diseases have created a pressing need for high-quality extended care solutions. As per the Saudi Ministry of Health, 14% of public hospital beds are currently occupied by long-stay patients, with figures climbing to 19% in Jeddah and 17% in Riyadh. The shortage of dedicated long-term care facilities is straining the national healthcare infrastructure.
The round was led by the TVM Healthcare Afiyah Fund, with participation from Olayan Financing Company, Saudi Economic and Development Holding Company (SEDCO), ANB Capital, SVC, and others. The funding will be used to scale Baraya’s inpatient and outpatient network, including its first 216-bed long-term care hospital set to open in early 2026, and expand outpatient rehabilitation clinics that already serve over 9,000 sessions monthly.
Baraya Extended Care, launched in 2023, builds on TVM Capital Healthcare’s legacy of success in the post-acute care sector. The firm previously backed ProVita International Medical Center and Cambridge Medical & Rehabilitation Center (CMRC) — ventures that not only scaled high-quality care but also helped establish regulatory frameworks and introduce international standards in Saudi Arabia and the broader Middle East.
“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, added: “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 and deal lead, noted: “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 supports Baraya’s hub-and-spoke expansion model, aimed at increasing access to long-term care throughout the Kingdom. With plans to scale to approximately 650 beds, the company is poised to become a national leader in extended care and rehabilitation. The blueprint could also be replicated in regions like Southeast Asia, where similar demographic and healthcare challenges exist.