Muhammad Sadiq

Im managing the group of 25 medical and related facilities in UAE.

• Direct the full financial strategy for a multi-site healthcare network, ensuring strong governance,
optimized cost structures, and alignment with Al-Futtaims wider business objectives.
• To lead annual budgeting, long-term financial planning, and rolling forecasts on quarterly basis,
improving financial visibility and enabling data-driven decision-making across clinical and pharmacy
units.
• Partnered with executive leadership to evaluate the new hospital project, new clinic planning,
expansion opportunities, and service-line profitability, supporting strategic growth across the Health
Hub portfolio.
• Oversee revenue cycle management, including billing, collections, insurance claims, and payer
relations, resulting in improved cash flow and reduced days-sales-outstanding (DSO).
• Manage cross-functional finance teams across accounting, FP&A, procurement, and supply chain,
driving performance, capability development, and operational efficiency.

• To lead the finance, procurement & RCM functions for the portfolio of 35+ facilities (2 hospitals, 14
dental clinics, 10 medical centres, 4 labs, 5 pharmacies) across the UAE, with expansion of 2
branches in Saudi Arabia.
• Handle the expansion from 22 branches to 37 branches and prepare their growth plan.
• Manage a direct and indirect team of 68+ professionals, fostering a high-performance culture.
• Spearhead the evaluation and execution of M&A opportunities, including the successful acquisition
of 1 hospital and 4 medical centres in UAE & KSA and formation of 5 new centres.
• Direct the implementation of a group-wide ERP system and its integration with Hospital Information
Systems (HIS) to streamline operations and reporting.
• Oversee corporate-wide budgeting, forecasting, and strategic planning, delivering actionable
insights to increase revenue and enhance EBITDA margins.
• Implement robust corporate governance structures and enhance management reporting tools for
the Board and investors, including GFH which is managing $18.2 bn. in assets.

Worked as the of Kings College Hospital for Dubai and Jeddah Hospitals. These assets are managed by a UK based Ashmore Group Plc which is operating under the international operating rights / agreement with Kings College Hospital London.

My responsibilities included; overseeing the financial planning, budgeting and management reporting for the organization, updating the financial model, Capex and new investment appraisals, leading the annual budgeting exercise for the financial year and 5 year financial and operational forecast for the Hospital, modeling of operational KPIs, developing business plans and financial feasibilities for capital projects within the organization, implementation of HIS & ERP, provision of monthly reports to monitor financial performance, review and analysis of patient and procedure level costing, contracting with insurance network for business development, to lead special assignments to increase operational efficiencies in the facilities/ departments, preparation of Board Packs, coordinating with auditors and tax consultant for Jeddah entity and dealing with a foreign bank in KSA for the project financing.

• Directed FP&A for the development and operations of a 100-bed hospital in Dubai (with 3 outreach
clinics) and a new 150-bed, $200M greenfield project in Jeddah.
• Led the annual budgeting and 5-year strategic forecasting process, providing critical analysis for
capital allocation and operational decisions.
• Developed and maintained complex financial models for project financing, working directly with KSA
based banks.
• Managed Capex appraisals and business plans for new service lines and facility expansions.
• Oversaw the implementation of HIS and ERP systems, enhancing data integrity and operational
reporting.
• Analysed patient and procedure-level costing to identify opportunities for margin improvement and
supported insurance contracting for business development.

Evercare The group was managing fund size of US$ 3.4 billion globally the healthcare
spectrum in emerging
• Played a pivotal role in the construction, commissioning and ramping-up of a $50M, 260-bed tertiary
care hospital, structuring the entire finance, accounting, and billing departments from the ground up.
• Reported directly to the CEO and Evercare Group CFO, overseeing all financial reporting, treasury,
tax planning, and statutory compliance.
• Led the end-to-end implementation of comprehensive IT systems including deployment of ERP and
HIS.
• Managed banking relationships, corporate insurance, the importation of high-value medical
equipment and supervising the matters with tax authorities.
• Served as Company Secretary, managing board affairs, regulatory compliance, and corporate
governance.
• strategic planning and risk management, coordination with auditors, and tax consultants.

Worked as a of Evercare Hospital Lahore; a member company of based The Evercare The group
was managing the fund size of US$ 3.4 billion globally across the healthcare spectrum in growth
markets.

The group built the largest private healthcare facility of 260 beds in Lahore under the brand name of Evercare Hospital Lahore. The project successfully commissioned in August 2019 with an investment value of US$ 50 million and got operational according to the ramp up plan and growth strategies.

My responsibilities included; structuring the functions of finance, accounts and patient billing departments, policy making and implementation, guiding about the directions of the company, formulating strategic decisions, managing and supervising all aspects of financial accounting and financial reporting, statistical MIS, cost and variance analysis, Capex and new investment appraisals, implementation of complete IT system, managing relationship with commercial banks for full spectrum of services and insurance companies for coverage of companys assets, imports of medical equipment, human resources & payroll, income tax, sales & other provincial taxes, funds and bank management, contracts management, strategic planning as well as risk management, coordination with auditors, and tax consultants.

Im remained involved with the CEO to manage some areas of operational activities. I was also managing the corporate affairs with regulatory bodies and managing the Board affairs. I reported directly to the CEO of the company and to the Group CFO.

79 mn
• Advised on the pre-launch financial structure for a $79M hospital, reviewing HIS/Oracle
implementation and supporting the development of the operational financial model.

Worked as a of Evercare Hospital Lekki, in Nigeria for 4 weeks. EHLN is a member
company The Lekki project value was US$ 79 mn and launched by January 2021 . My role was to advise them on structuring the finance and billing departments, review of implementation process of HIS and Oracle, review of system design documents, to support in developing the financial model and to advise on various areas of healthcare
service systems.

Worked as a CFO of Tabba Kidney Institute (130 beds facility) & Aziz Tabba Foundation (public welfare organization); member companies of Yunus Brothers / Lucky Group. The hospital is committed to provide and continuously improve the quality of Nephro - Dialysis & general health-care services on not-for-profit basis. TKI is an ISO 9001:2008 certified hospital in quality care & management. I was reporting directly to the CEO of the group.
My responsibilities included; managing and supervising all aspects of financial reporting, budgeting and planning, statistical MIS, cost and variance analysis, Capex and new investment appraisals, imports and general procurement, human resources & payroll, income and sales taxes, funds and bank management, accounts payables and receivables, evaluation and implementation of end-to-end IT system, billing services and corporate business, materials management, strategic planning as well as risk management. I also supervised the Audit and Quality Control function of the hospital and led the team of 24 individuals.

I was also responsible for coordination with internal & external auditors and tax consultants. I was also appointed as a non-executive member of certain committees of the Tabba Group for public welfare.

• Managed full financial and administrative operations for a 130-bed, ISO-certified specialty hospital
and its foundation (part of Lucky Group).
• Supervised a team of 32 across Finance, HR, IT, Billing and Supply Chain.
• Evaluated and led the implementation of end-to-end IT system, significantly improving billing and
operational efficiency.
• Strengthened internal controls and audit functions, serving as a non-executive member on group
committees for patient welfare.
• Managed all aspects of financial reporting, budgeting and planning, statistical MIS, cost and variance
analysis, cash flow positions, capex and new investment appraisals.
• Managed the relationships with internal & external auditors, commercial banks and tax consultants.
• Proposed changes to improve the income lines and further additions to it and the curtailment of
expenditures through provision of the substitutes.

I was heading the finance & audit department and was looking after Financial Reporting section, Taxation section, Accounts Payable/ Receivable section and Fixed Assets section. I supervised the team of 12 individuals and was reporting directly to the CEO. My principal responsibilities were;
• Preparation of overall budget & monitoring performance against the budget and developing plans and timetables to address them and setting performance standards;
• Supervising fortnightly and monthly audit plans and giving recommendations for shortcomings,
• Supervise the preparation of monthly MIS reports and reporting them to management for discussion;
• Supervise the preparation of annual, semi-annual and quarterly financial statements;
• Handling income tax related matters of the Company;
• Preparation of reports and presentation for BOD members & shareholders;
• Responding to queries raised by the tax department & Coordinating with tax consultants;
• Managing corporate finances, debt management, cash-flow management, payment approvals;
• Conducting Investment Committee meetings for approval of CAPEX items of the assignments;
• Monitoring CAPEX of projects according to investment feasibilities;
• Heading the Accounts Payable & Receivable department, ensuring compliance of Company policies;
• Coordinating with internal and external auditors for finalization of statutory audits;
• Development of various policies (fixed assets capitalization, materiality etc.); and
At the South City hospital which is one of the biggest and most advanced private hospitals, I started as a Manager Internal Audit and developed the Internal Audit Department, prepared guidelines for the functioning of all the departments, developed policies and internal controls for the process flows.

• Rapidly promoted from founding the Internal Audit function to heading the Finance Department.
• Spearheaded the annual budget and delivered comprehensive MIS reports to the CEO and to the
Board.
• Led a due diligence assignment for a foreign equity investor, managing interactions with legal and
financial advisors.
• Supervised a team of 12 members, managing financial reporting, taxes, treasury, & corporate
finances.

I worked as an Audit Supervisor / Senior Auditor and at other designations in Audit and Assurance
Business Services department of Ernst & Young Chartered Accountants, a member firm of Ernst &
Young Global Limited.

I was deployed on 2 international audits as a part of Ernst & Young International at Dubai & Abu Dhabi Offices. (Details are mentioned in Annexure)
I worked closely with the audit clients in understanding their business issues, assisting in tailoring the firms audit software and products to match their needs and managing firms resources to complete the projects. My responsibilities included:
• Planning and scheduling the audit engagements.
• Making planning and risk assessment decisions, including deciding on planning materiality and combined risk assessment.
• Reviewing compliance with legal, listing and financial reporting framework.
• Examination of, and reporting on, group financial statements / reporting packages of companies.
• Supervision of staff engaged in audit and leading teams of up to ten members.
• On the job training and professional development of staff engaged.
• Review of work performed by staff to ensure that it is carried out in accordance with International Standards on Auditing.
• Conducting planning & final meeting with client including discussions to resolve the audit issues.
• Review of compliance with Code of Corporate Governance.
• Assisting clients in preparation of financial statements in accordance with International Financial Reporting Standards.
• Preparing client deliverables including audit reports and management letters.
• Representing the firm in Audit Committee meetings of the clients.

• Planned and executed audit engagements for diverse clients, leading teams of up to 10 staff.
• Gained international experience on secondment to EY offices in Dubai & Abu Dhabi in 2008 & 2009.
• Making planning and risk assessment decisions, including deciding on planning materiality.
• Reviewing compliance with legal, listing and financial reporting framework.
• Conducting planning & final meeting with client including discussions to resolve the audit issues.
• Assisting clients in preparation of financial statements in accordance with IFRS.
• Preparing client deliverables including audit reports and management letters.
• Representing the audit firm in Audit Committee meetings of the clients.

Gave the traininh to other staff members for EYs GAMx Audit Software & techniques.