Dr. Diaa Salah is currently the CEO of PROMO HEALTH FZ. LLC, a specialized company in healthcare investment and healthcare business development, associated with Dubai Healthcare City and certified by CPQ.
He is a physician graduated from Medical College 1992, Studied MBA, and post graduated in Healthcare management.
He has 23 years of experience in healthcare business management in GCC and North African region; managed feasibility and investment plans for major healthcare players. A number of participations in healthcare conferences and workshops in MENA area and TV interviews are on his record.
The YesGulf team is grateful to DR. Diaa for giving us time from his busy schedule and sharing with us his success story packed with marvelous achievements.
Tell us a little bit about your startup? What ignited the spark in you to start a new business venture in the healthcare industry? When you conceived this idea and how did you validate its viability in the UAE’s competitive marketplace?
As a physician with a 20 years long experience in healthcare business, I was thinking about a business model to start my business to create a link between healthcare from quality point of view and healthcare from investment point of view to match between mutual objectives of healthcare providers and their clients in GCC specially UAE. This was the nucleus initiative of the core business of Promo Health LLC.
The market demands encouraged me to start a new healthcare business Promo Health LLC which is located in Dubai and associated with Dubai Healthcare City; regarding myself and my consultants; we have a comprehensive package of experiences in healthcare in the region from demography, economy, statistics, and medicine to finance, operation and quality aspects. Hence, we can offer competitive edge in the market as the first company in the region providing high standard solutions for both running and startup healthcare business providers.
What is unique about your business? How challenging it was for you to fit into the UAE’s corporate culture?
Our unique competitive edge for healthcare providers for services such as facility acquisition, feasibility studies, market researches, creating business models, initiating centers of excellence, cluster proposals for affiliation and partnership plus the marketing tactic solutions to achieve profit goals best utilizing client’s budget.
We are familiar with the UAE healthcare market as our team have experience in gulf countries for more than 10 years
How UAE helped you to succeed in achieving your business goals?
UAE offers the best solutions for new investors: as for easy startup business regulations, one-stop registration, 100% ownership in free zone business specialized areas like Dubai Healthcare City, Tax free, easy global networking through a planned series of conferences and exhibitions, diversification of the market, a new trend of health insurance coverage, plus being the most secure and politically stable country in the region
How do you obtain funding or investments for your venture?
I have been already started on my own fund as it is consultancy business and needs medium capital. We are planning to have partnership funds for future GCC expansions.
What’s your process of building and retaining a good customer base?
Our clients remain the center of our focus so that we can retain the current and get new. So, our strategy to achieve such loyalty is to offer a consistent commitment keeping strict confidentiality, economic prices, to guarantee qualitative and quantitative returns on investment, senior level communication, and free services linked to our main agreements.
How far are you willing to go to succeed? Does being an entrepreneur affects family life? If so, how you set your priorities.
Our plan is to get the Promo Health LLC on top of healthcare business consultancy and marketing providers relying on god’s support then our competences and competitive edges in the marketplace.
As the day has only 24 hours, so we have to manage time and prioritize our official and social tasks and responsibilities. We have to plan everything beforehand for better outcomes and hope we can succeed on that.
What characterizes a successful entrepreneur in your opinion? To what do you most attribute your success?
The new era entrepreneur has to be market expert and situational analyst, challenger, strategic and tactic planner, initiative, has a clear scope of business, and knows his current size and future goals, and customer focused to be on continuous flexible corrective plans.
Our success in Promo Health LLC has been achieved mainly from our planned model of business and competencies which are fitting to customer needs and our matching Win-Win economic solutions for small and medium size businesses as main target audience.
What’s been your greatest achievements so far; both as a doctor and entrepreneur?
Really, I did not practice medicine for a long time and spent most of my career in healthcare business industry. But, my background knowledge influenced my career as I know all the requirements in healthcare industry players easily putting myself in the client’s shoes.
Greatest achievements are the last; as we have recently signed the MOUs with leading players in healthcare providers’ market in UAE, KSA and Oman, outsourced their business development and marketing to Promo Health LLC.
What were some key lessons you have learned as your startup evolved from a premature idea to where it is today?
We realized that UAE will be a real healthcare and tourism hub in the region, se we are planning to expand our portfolio of services to that industry.
We realized that GCC market in healthcare is one entity so we are planning to encourage investors to start their business outside home countries.
We realized that healthcare market in UAE is reshaping for next successive 3 years, so we have to study the market statistics day by day to get our clients up to date.
Do you have any words of advice or inspiration for someone out there who has an idea?
For the investors: UAE market is the best to invest in , it will be a booming market as supported by the governmental authorities and after the medical insurance mandate coverage, the plans for medical tourism hub, the currency exchange stability , and clear easy regulations.
For healthcare providers: UAE is an opportunistic and virgin market for sub-specialty medicine, so select your biplane services according to cash/credit market needs.
For new junior entrepreneurs: Study the market, analyze client’s needs, execute your project or operation, continuously monitor to correct, Good Luck!