Situation
NASA Hospitals is a hospital group with an international expansion plan across India and Dubai. I work with Dr. Riyaz M. Khan and his team.
A hospital group that wants to grow across borders has to answer a structural question before a commercial one. Where does the parent sit? What does it own? How do new hospitals, operating partners, investors and advisers plug into it? If those answers come late, every conversation with an operator or investor stalls on the same questions, and momentum is lost.
The India to UAE corridor gives a hospital group a strong framework to build on. The UAE-India Comprehensive Economic Partnership Agreement entered into force on 1 May 2022 (UAE Ministry of Economy and Tourism). The India-UAE bilateral investment treaty, signed in Abu Dhabi in February 2024, entered into force with effect from 31 August 2024, according to India's finance ministry (ThePrint). In the UAE, the Emirates Drug Establishment regulates medical products federally, while the Dubai Health Authority and the Department of Health Abu Dhabi regulate healthcare in their emirates (UAE Government portal).
What I did
I designed the holding structure for NASA Hospitals' international expansion, and I provide structuring advisory and introductions for India and Dubai. The work follows the same sequence I use on every cross-border healthcare file.
- Structure before introductions. The holding structure is designed first: what the parent holds, how each market's operations sit beneath it, and where partners can come in. Licensed legal and tax advisers handle the legal form and filings.
- Paper ready for every meeting. Each conversation needs a model, a term sheet and a defined next step before anyone sits down.
- Engagement first. Under Law II of my Laws of the Desk, engagement letters and NCNDAs are in place before the first introduction.
- The right people at the table. I introduce hospital operators, investors and advisers whose interests fit the structure, in India and in Dubai.
- Coordinator, never custodian. Under Law III I never hold client funds. Any regulated activity is handled by appropriately licensed firms.
He brought hospital operators, investors and advisers to our table within weeks, and every conversation arrived with a model, a term sheet and a next step." Dr. Riyaz M. Khan, NASA Hospitals
Result
Stage: Mandate held. The holding structure for international expansion is designed, and I hold the structuring advisory and introductions mandate for India and Dubai. In Dr. Khan's words, operators, investors and advisers came to the table within weeks, and every conversation arrived with a model, a term sheet and a next step.
I will not publish terms, valuations or the names of counterparties in active conversations. Those belong to the principals.
In healthcare, the structure is the first conversation. Get it right and every meeting after it is shorter.
What you can take from this
If you run a promoter-led or family-owned hospital group in India and Dubai is your next market, settle the structure before you open conversations. The table shows common patterns to discuss with your licensed legal and tax advisers. It is not legal or tax advice.
Holding structure patterns for an India to Dubai hospital group
| Pattern | How it works | When it tends to fit | Questions for your counsel |
|---|---|---|---|
| India parent, UAE subsidiary | The Indian company owns the Dubai operation directly | A first UAE hospital or clinic run as an extension of the Indian group | Outbound investment rules, profit flows, local licensing |
| UAE holding company above both | A UAE holding entity owns the India and UAE operations | Groups planning several markets and partners at holding level | Choice of jurisdiction, treaty position, governance |
| Separate country groups, shared brand | Each market is held separately and linked by brand and management agreements | Groups bringing in different local partners per market | Brand ownership, management fees, control rights |
Groups that choose a UAE holding entity often consider a financial free zone. The DIFC Courts, for example, administer a common law, English-language jurisdiction (DIFC Courts). Which base fits depends on your plans, so decide it with licensed counsel.
Then prepare the paper. Before any introduction, I want three things ready: a model that shows the economics of each hospital and of the group, a term sheet that says what a partner gives and gets, and a one-line next step for the meeting. Operators, investors and advisers can then respond to something concrete instead of an idea.
A 90-day plan for a hospital group going from India to Dubai
- Days 1–20: Define the expansion thesis for each market: services, sites, and the partners you need.
- Days 21–45: Settle the holding structure with licensed legal and tax advisers. Build the model and term sheet.
- Days 46–75: Sign engagement terms, then open introductions to operators, advisers and, through licensed firms where required, investors.
- Days 76–90: Narrow to the conversations with a defined next step, and decide which to take into execution.
Related
- How to do business in Dubai from India: the full corridor guide.
- Deal structuring: how I design structures before negotiations begin.
- US surgical instruments firm plans Gulf entry: another healthcare entry.
- All market entry case studies and the market entry hub.
Frequently asked questions
How should an Indian hospital group structure its expansion to Dubai?
Decide the holding structure before opening conversations with operators or investors. Common patterns are an Indian parent with a UAE subsidiary, a UAE holding company above both markets, or separate country groups linked by brand agreements. The right choice depends on your partners, governance and treaty position, so settle it with licensed legal and tax advisers.
What did you do for NASA Hospitals?
I designed the holding structure for NASA Hospitals' international expansion and provide structuring advisory and introductions for India and Dubai. Dr. Riyaz M. Khan says I brought hospital operators, investors and advisers to the table within weeks, each conversation with a model, a term sheet and a next step. This is strategic advisory and introductions only.
Do you raise capital for hospital groups?
No. I provide strategic advisory and introductions only. I do not raise capital, manage money, place securities or give investment, legal or tax advice, and I never hold client funds. Regulated activities are handled by appropriately licensed firms. My role is to design the structure, prepare the paper and introduce the right principals.
Which trade agreements matter for India to UAE healthcare expansion?
Two are worth knowing. The UAE-India Comprehensive Economic Partnership Agreement entered into force on 1 May 2022. The India-UAE bilateral investment treaty, signed in February 2024, entered into force with effect from 31 August 2024. Ask licensed counsel how each applies to your structure, because the details depend on your entities and activities.
Who regulates healthcare in Dubai and the UAE?
The Emirates Drug Establishment manages and regulates medical products at federal level. Healthcare in each emirate is regulated locally: the Dubai Health Authority in Dubai, the Department of Health in Abu Dhabi and the Sharjah Health Authority in Sharjah. Requirements differ by emirate and activity, so confirm them early with the relevant authority and licensed counsel.
How do I start a structuring engagement for my hospital group?
Book a 15-minute fit call for USD 500. It is credited in full against any engagement within 30 days and refunded if I decline the file. If there is a fit, the usual next step is a 90-day advisory seat at USD 30,000 a month. Engagement letters and NCNDAs are signed before any introduction.
Taking your hospital group across borders?
Book a 15-minute fit call to test your structure before you open conversations. USD 500, credited in full within 30 days, refunded if I decline. Strategic advisory and introductions only.
Sources
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