B.R. Shetty is a name that resonates across the business corridors of the UAE. As the founder of NMC Healthcare and UAE Exchange, his journey from a small town in India to becoming a global business magnate is nothing short of remarkable. But what made him stand out in the world of finance and healthcare?
Let’s explore the story of how one man transformed challenges into opportunities and built not one, but multiple billion-dollar businesses.
Born in Udupi, Karnataka, Bavaguthu Raghuram Shetty started his career in pharmacy. But with limited opportunities at home, he took a bold step in the 1970s — he moved to Abu Dhabi with just a few dirhams in his pocket and a head full of dreams.
At that time, the UAE was still developing. Healthcare infrastructure was minimal, and financial services were just beginning to grow. This is where B.R. Shetty saw his first opportunity.
In 1975, Shetty founded NMC Healthcare, with a single clinic. His goal? To offer accessible and affordable medical care to the growing population of expatriates and locals. What started as a small venture soon turned into one of the UAE’s largest private healthcare providers.
Today, NMC is synonymous with quality and care, with hospitals and clinics spread across the Middle East, India, and beyond.
By keeping the patient at the core, NMC evolved into a trusted healthcare brand.
While managing his healthcare business, Shetty noticed another pain point — the lack of reliable money transfer services for Indian expats. Many workers were sending money home using informal channels.
To solve this, he launched UAE Exchange in the 1980s, which soon became a lifeline for millions of South Asians working in the Gulf. Fast, secure, and trusted, the service expanded into 30+ countries.
Shetty didn’t just build a business — he created a financial ecosystem. From remittance to foreign exchange, UAE Exchange made cross-border finance easy, even before fintech became a buzzword.
Over the years, B.R. Shetty expanded his empire. His ventures included:
His companies spanned continents, showing how ambition, paired with vision, can lead to global success.
B.R. Shetty always stayed ahead of the curve. Whether it was identifying healthcare gaps or remittance issues, his ability to spot problems early and solve them set him apart.
Moving to a new country, starting businesses from scratch — these were high-risk moves. But calculated risks created extraordinary rewards.
Whether it was patients or customers, Shetty always focused on building trust. His brands became household names not through advertising, but through reliability.
Every entrepreneur’s journey has highs and lows. While B.R. Shetty faced challenges in later years, including financial setbacks, his contribution to the UAE’s business and healthcare sectors remains historic.
His story continues to inspire a generation of entrepreneurs who believe in turning adversity into opportunity.
In short, B.R. Shetty’s rise from a small-town pharmacist to the founder of NMC Healthcare and UAE Exchange is proof that bold dreams, backed by action, can move mountains. His ventures didn’t just succeed — they created lasting impact across industries and borders.
Even as tides change, his legacy as a pioneer in healthcare and finance continues to influence the business landscape of the UAE and beyond.
Q1. Who is B.R. Shetty?
B.R. Shetty is the founder of NMC Healthcare and UAE Exchange, known for transforming the healthcare and financial services sectors in the UAE.
Q2. What is NMC Healthcare?
NMC Healthcare is a leading private healthcare provider in the UAE, established by B.R. Shetty in 1975.
Q3. Why did B.R. Shetty start UAE Exchange?
He founded UAE Exchange to offer secure remittance services to expatriates, especially Indian workers in the Gulf.
Q4. What other companies did he start?
Apart from NMC and UAE Exchange, he also founded Neopharma and BR Life.
Q5. What is B.R. Shetty’s legacy?
His legacy lies in pioneering accessible healthcare and financial services for millions, and inspiring entrepreneurship in the region.
