GlobeMed
GlobeMed is a Lebanon-based private TPA franchisor and health insurance systems vendor that administers benefits for 27 million members across 12 MENA countries via its Genix platform, serving 220+ insurers, corporates, and government clients.
- Company typePrivate
- Founded1989
- HeadquartersRiyadh, Saudi Arabia
- Headcount101–250
- GTM typeB2B
- OfferingServices
What GlobeMed does
GlobeMed Group is a privately held Third Party Administrator (TPA) franchisor and health insurance management systems vendor headquartered in Beirut, Lebanon, founded in 1989. It serves 220+ clients — including insurers, governments, and self-funded corporates — and administers benefits for 27 million insured members across 12 countries in the MENA region, processing $3 billion in claims annually and 167 million+ claims cumulatively. The company's core technology stack is built around its flagship Genix platform, an end-to-end health insurance management system, supported by ARC (a proprietary Automated Medical Rules Engine with millions of rules), the CareGate provider portal, Insight 360 CRM, and Puma Deep Dive BI tools; up to 80% of claims are processed through automated decisioning.
GlobeMed operates a hybrid business model combining managed TPA services, software licensing of Genix to franchisees and direct clients, franchise fees and royalties from licensee partners across MENA, PBM services, actuarial consulting, and international health services via Globe Assist. The franchise architecture is a key commercial mechanism: local partners deploy and operate the standardized platform under license, allowing GlobeMed to scale across heterogeneous regulatory environments while maintaining centralized IP and product development. Adjacent products include the GlobeMed FIT mobile app for members, TMED telehealth, and the GlobeMed Academy training program, indicating a steady broadening of the offering beyond pure claims administration.
The company is family-controlled (Pharaon and Nasnas families on the board), operates with 1,600+ employees, and has direct contracts with 24,000+ healthcare providers across MENA and access to 120,000+ providers worldwide. Recent strategic moves — the UAE Gulf relaunch (2025), Genix Qatar rollout (2024), TMED telehealth launch, and a 2025 cybersecurity framework — suggest active investment in geographic depth, product breadth, and enterprise-grade infrastructure, albeit at the pace of a mature incumbent rather than a hyper-growth startup.
GlobeMed firmographics
Firmographics- Name
- GlobeMed
- Legal name
- GlobeMed Group
- Website
- https://globemedgroup.com
- Company type
- Private
- Founded year
- 1989
- Operating status
- Operating
- Headcount range
- 101–250 employees
- Short description
- GlobeMed is a Lebanon-based private TPA franchisor and health insurance systems vendor that administers benefits for 27 million members across 12 MENA countries via its Genix platform, serving 220+ insurers, corporates, and government clients.
- Ownership category
- akta.pro rank
GlobeMed industry classification
Industry- Product category
- Healthcare Benefits Management
- NAICS
- Pharmacy Benefit Management and Other Third Party Administration of Insurance and Pension Funds (524292)
- SIC
- Services-Health Services (8000)
- akta.pro primary industry
- Care Management & Population Health Program Administration (HLAEALAG)
- akta.pro secondary industry
- Individual Health Insurance Administration (TPA/ASO) (FSAIAEAK)
Keywords
Where GlobeMed is headquartered
LocationHeadquarters
- HQ city
- Riyadh
- HQ country
- Saudi Arabia
- HQ region
- Middle East
Offices12 records
Markets served
GlobeMed business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Technology or R&D, Operations, Marketing or Sales, Infrastructure
Revenue model
- Third Party Administration Services: Healthcare benefits management services offered through 12 franchisee operations across MENA region. Processing nearly $3 billion worth of claims annually. Revenue generated from service fees for claims processing, network access, and administration services to 220+ clients.
- Health Insurance Software Licensing: Licensing of proprietary Genix GlobeMed health insurance management system to payers. Implementation services, configuration, and ongoing support included. Modular deployment allows selective adoption.
- TPA Franchise Model: Franchise rights granted to partners to operate TPA businesses under GlobeMed brand. Franchisees benefit from brand, technology, processes, and network access. Revenue from franchise fees and technology licensing.
- Pharmacy Benefits Management: PBM services including automated pharmacy rules engine, e-prescribing, e-dispensing, utilization management, and pharmacy programs. Includes drug formulary management and clinical decision support.
- International Health Services: Access to 120,000+ healthcare providers worldwide, medical assistance services, emergency evacuation, repatriation, travel assistance, and concierge services.
- Actuarial Consultancy Services: In-house actuarial services including product development, ratemaking, reserve calculation, performance monitoring, reinsurance support, and special studies.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Annual | Enterprise Health Insurance System - Custom pricing based on scope |
Go-to-market motion3 records
Distribution channels4 records
Marketing channels7 records
GlobeMed product offering
Product offeringCore offering
GlobeMed operates as a Third Party Administrator (TPA) franchisor across 12 MENA countries, providing healthcare benefits management services to government payers, private insurers, and self-insured employers. The company licenses its proprietary Genix GlobeMed health insurance management system, which automates up to 80% of end-to-end claims processing, and offers pharmacy benefits management, international health services, and actuarial consulting to 220+ clients covering 27 million insured members.
Product overview
GlobeMed offers a comprehensive Health Insurance Management ecosystem built around its flagship Genix GlobeMed system. The portfolio consists of the core Genix GlobeMed health insurance platform with modular components including Policy Management, Network Management, CareGate Healthcare Providers Portal, Claims Adjudication, Business Intelligence Tools (Puma Deep Dive, DUR), CRM (Insight 360), and Third Party Accounting. Additional offerings include the ARC Automated Medical Rules Engine for claims automation and fraud detection, the GlobeMed FIT mobile app for insured member self-service, and the TPA Franchise business model for regional expansion. Services encompass Third Party Administration, Pharmacy Benefits Management, International Health Services, Globe Assist cross-border services, GlobeMed Academy training, Actuarial Consultancy, and the recently announced TMED Telehealth platform.
Differentiator
Problem solved
Functional benefit
Brands
- Genix GlobeMed: Proprietary advanced health insurance system for the management of healthcare benefits, built on experience and expertise of TPA franchisees.
- ARC
- GlobeMed FIT
- TPA Franchise
- CareGate
- Insight 360
- GlobeMed Academy
- iSchool
- Globe Assist
- Globe Travel Solutions
- TMED Telehealth
Products and services
- Genix GlobeMed Health Insurance Management System
- TPA Franchise
- ARC Automated Medical Rules Engine
- Third Party Administration Services
- Pharmacy Benefits Management
- International Health Services
- GlobeMed FIT Mobile App
- Globe Assist Cross-Border Services
- GlobeMed Academy Training Platform
- TMED Telehealth Platform
- Globe Travel Solutions
- Actuarial Consultancy Services
Quantifiable outcome
- Up to 80% of end-to-end claims processing automated
- +4 more outcomes
Companies that use GlobeMed
Customer profileNamed customers5 records
Segments7 records
Ideal customer profiles4 records
GlobeMed technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
AI capability6 records
Feature12 records
GlobeMed partnerships and signals
Strategic signalPartnerships
Four partnerships are on record, tiered minor and core.
- Gen ReminorGlobeMed Lebanon presented special tribute to Gen Re recognizing their dedicated efforts and major support in key initiatives and projects in Lebanon.
- Northeastern University - Bouvé College of Health SciencescoreResearch collaboration on 'Harnessing the Role of the Private Sector in advancing Universal Health Coverage (UHC) in Egypt' conducted with Bouvé College of Health Sciences. GlobeMed contributed expertise managing $3 billion in claims across 12 MENA countries. Research launched insights and recommendations for public-private partnerships in healthcare.
- Saint Joseph University (USJ)coreCollaboration launched Clinical Coding Training program in 2002. Expanded to KSA in 2012. Qatari Supreme Council of Health appointed GlobeMed as exclusive training vendor for ICD-10-AM in Qatar (2014-2016). Also partnered on Health Information Analysis Diploma program launched October 2020.
- International Healthcare Provider NetworkscoreCooperation with international partners providing access to 120,000+ healthcare providers worldwide in addition to 24,000+ directly contracted MENA providers.
Scale indicators12 records
Recent moves8 records
Expansion highlights6 records
GlobeMed competitors and assessment
Company assessmentBroad incumbents
- Bupa Global: International health insurance division of Bupa providing cross-border health coverage and TPA-adjacent services. Comparable to GlobeMed's international health services serving globally mobile populations across MENA.
- Optum (UnitedHealth Group): Health services and innovation arm of UnitedHealth Group providing TPA, PBM, and health insurance technology at global scale. Comparable to GlobeMed's Genix platform and managed services but at vastly larger scale with broader geographic reach.
- Cigna Healthcare: Global health services company offering insurance and TPA services including international health coverage. Comparable to GlobeMed's international health services arm and overall TPA + insurer + technology value chain.
- Allianz Care: International health insurance division of Allianz offering group and individual health plans with embedded TPA and assistance services. Comparable to GlobeMed's international health services and Globe Assist cross-border offerings.
Regional players
- NextCare: Healthcare management and third-party administration provider operating across the MENA region. Comparable in offering TPA, claims management, and provider network services to insurers and self-funded employers in the same geographies as GlobeMed.
- Daman (National Health Insurance Company): UAE national health insurance company and one of the largest health insurers in the Gulf. Operates in the same UAE market as GlobeMed Gulf and serves similar payer and government segments.
- AXA Insurance Gulf: Major Gulf-region health and general insurance provider operating across MENA. Comparable as a regional health insurance incumbent that may either compete with or partner with GlobeMed's TPA and software services in the same markets.
Direct peers
- MedNet: MENA-focused healthcare insurance management and TPA company. Most directly comparable regional competitor offering health insurance administration across the Middle East with similar target customers (insurers, employers, governments).
- Sedgwick: Global third-party administrator specializing in claims management across health, property, and casualty. Directly comparable to GlobeMed as a multi-jurisdiction TPA offering technology-enabled claims processing to insurers and employers.
- Crawford & Company: Global claims management and TPA services provider with broad healthcare and insurance administration offerings. Comparable to GlobeMed in operating multi-country TPA services with proprietary claims technology.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat7 records
Key risks6 records
Key highlights7 records
Customer concentration
GlobeMed social profiles
Digital presenceGlobeMed financial estimates
Financial estimateRevenue estimate
Valuation estimate
GlobeMed leadership team
Management profileNumber of profiles
Profiles12 records
GlobeMed subsidiaries and ownership
Company hierarchySubsidiaries11 records
GlobeMed funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
GlobeMed M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about GlobeMed
What does GlobeMed do?
GlobeMed operates as a Third Party Administrator (TPA) franchisor across 12 MENA countries, providing healthcare benefits management services to government payers, private insurers, and self-insured employers. The company licenses its proprietary Genix GlobeMed health insurance management system, which automates up to 80% of end-to-end claims processing, and offers pharmacy benefits management, international health services, and actuarial consulting to 220+ clients covering 27 million insured members.
Is GlobeMed a public or private company?
GlobeMed is a private company. It is classified as family owned and is currently operating.
When was GlobeMed founded?
GlobeMed was founded in 1989. It employs 101 to 250 people.
Where is GlobeMed based?
GlobeMed is headquartered in Riyadh, Saudi Arabia, in the Middle East region.
How does GlobeMed make money?
Six revenue lines are on record. Third Party Administration Services are the primary driver. The others are health Insurance Software Licensing, TPA Franchise Model, pharmacy Benefits Management, international Health Services and actuarial Consultancy Services.
Who are GlobeMed's main competitors?
Broad incumbents on record are Bupa Global, Optum (UnitedHealth Group), Cigna Healthcare and Allianz Care. Regional players are NextCare, Daman (National Health Insurance Company) and AXA Insurance Gulf. Direct peers are MedNet, Sedgwick and Crawford & Company.
Does GlobeMed have an API?
No public API is recorded for GlobeMed.
What industry is GlobeMed in?
GlobeMed's product category is Healthcare Benefits Management. Its primary akta.pro industry code is HLAEALAG, Care Management & Population Health Program Administration, with a secondary code of FSAIAEAK, Individual Health Insurance Administration (TPA/ASO). Its NAICS code is 524292 and its SIC code is 8000.