Two entrepreneurs with roots in Keralam have emerged among the most influential figures in the Middle East’s rapidly transforming healthcare industry, according to Forbes Middle East’s Top Healthcare Leaders 2026 rankings.
Azad Moopen, founder, chairman and managing director of Aster DM Healthcare, has been ranked third among the region’s top 50 healthcare founders. Shamseer Vayalil, founder and chairman of Burjeel Holdings, has also figured among the 150 leaders recognised across the founders and executives rankings.
Their recognition highlights the growing imprint of entrepreneurs from Keralam on the Gulf’s healthcare landscape, where large hospital networks are increasingly evolving into integrated healthcare platforms spanning hospitals, clinics, pharmacies, specialised medicine and technology.
Moopen secured the third position in the founders ranking, behind Shaista Asif, co-founder and group CEO of UAE-based PureHealth, and Saudi billionaire Sulaiman Al Habib, founder and chairman of Dr Sulaiman Al Habib Medical Services Group.
Moopen’s journey from Keralam to building one of the Gulf’s best-known healthcare brands has made him one of the most prominent Indian-origin entrepreneurs in the region.
Aster DM Healthcare has developed into a diversified healthcare group with a substantial presence across the Gulf and India. Its business spans hospitals, clinics, pharmacies and other healthcare services.
The company has undergone a significant transformation in recent years following the separation of its India and GCC operations. Aster’s GCC business is now backed by a consortium led by Fajr Capital, while the Moopen family remains an important shareholder.
For Moopen, the Forbes ranking represents recognition not merely of the size of Aster but of his role in building a healthcare business that has become deeply embedded in the Gulf market.
Another prominent name from Keralam in the region’s healthcare story is Shamseer Vayalil.
The founder and chairman of Burjeel Holdings has built the UAE-based healthcare group into a significant player in the Gulf through a network of hospitals, medical centres and specialised healthcare services.
Vayalil’s emergence as a major healthcare entrepreneur mirrors a broader trend in the Gulf: the rise of privately built healthcare platforms capable of providing everything from primary care to highly specialised medical treatment.
Burjeel has been expanding its hospital and specialised-care portfolio while investing in advanced medical services and technology.
The success of Moopen and Vayalil also reflects the unusual role played by Keralam in the Gulf’s private healthcare sector.
The large Malayali population in the GCC has created a natural social and economic connection between Keralam and the Gulf. Over the years, entrepreneurs from Kerala have moved beyond traditional trading and services into sectors such as healthcare, education, hospitality and financial services.
Healthcare has emerged as one of the most visible areas of this expansion. Moopen and Vayalil represent two different generations of that entrepreneurial journey. Their businesses have moved well beyond serving the expatriate community and now cater to a much broader population across the Gulf.
Their success also illustrates how Indian-origin entrepreneurs have become important participants in the Gulf’s diversification story.
Forbes Middle East’s rankings come at a time when healthcare systems across the Gulf are undergoing major structural changes.
The UAE accounted for 75 of the 150 leaders across the two rankings, while Saudi Arabia contributed 40 and Egypt 14.
Hospital leaders dominated the rankings with 44 entries, followed by pharmaceutical leaders with 43 and integrated healthcare leaders with 14.
The selection considered factors including company size, the leader’s impact on healthcare, innovations and achievements during 2025 and 2026, industry experience, operational diversity, transparency, sustainability and CSR initiatives. Ownership was also considered for the founders ranking.