Many Israeli CEOs have built magnificent businesses, but on the local Israeli scene the success of Dalia Korkin, CEO of nursing and rehabilitation services company Amal and Beyond Group, is extraordinary.
This week, Korkin and her partners in Amal and Beyond Group - FIMI, Poalim Equity (Bank Hapoalim) and Migdal Insurance and Financial Holding - completed the company's IPO (under the name Amal Holdings) through an offer for sale of 48% of the company's shares, meaning that all the proceeds - NIS 1.24 billion - flowed into the owners' pockets. The company began to be traded on the Tel Aviv Stock Exchange under the ticker AMAL at a market cap of NIS 2.6 billion.
Korkin (60), the person mainly responsible for the company's success story, sold 10% of Amal and Beyond Group’s shares for NIS 187 million, and remains with a similar stake in the company. Together with past share sales and dividends she has received to date, she has amassed a fortune of over half a billion shekels within a decade.
Other sellers in the IPO were private equity firm FIMI (NIS 643 million), Poalim Equity (NIS 260 million) and Migdal (NIS 147 million). Following the transaction, FIMI holds just under 25% of Amal Holdings.
Led the leap forward
Korkin holds a bachelor's degree in economics and management from Ruppin College. She grew up on Kibbutz Ramot Menashe, and in the past worked as a bookkeeper at Arad Technology’s water meter factory, in which the kibbutz was a partner. She also served for a time as kibbutz treasurer.
Korkin was appointed salaried CEO of Amal in 1998. Nearly two decades later, when the company was put up for sale, she decided to join the takeover by US businessman Harry Gross. "Dalia gathered her family together and told them she wanted to participate in the investment. She asked if they were prepared to go along with it, ‘and maybe we'll have to go to live in a tent.’ "They supported her because they saw that she lived and breathed the company," a friend of Korkin's once told "Globes," "So she took loans and entered into a partnership with Gross."
In that transaction, Amal and Beyond Group was valued at NIS 240 million, and Korkin had a 30% share. Over the years she accumulated about NIS 200 million from sales of shares, in addition to dividends and her salary as CEO (NIS 3.6 million last year).
Amal and Beyond Group’s pre-IPO presentation noted that Korkin led the company from NIS 8 million in annual revenue to more than NIS 2.2 billion today, and from a company with a workforce of 280 to one with almost 29,000.
A stable sector - except when it isn't
Amal and Beyond Group currently provides nursing services to over 32,000 patients, and in addition operates a network of fourteen nursing homes for non-independent residents around Israel. It provides rehabilitation services for mentally ill people and treatment for special needs populations.
The group’s financial statements demonstrate rapid growth: in 2024, the chain reported revenue of NIS 1.94 billion (up 42%) and a net profit of NIS 127 million, almost double of that of the previous year. This positive trend continued into the first half of 2025.
The chain's growth in recent years was assisted by FIMI Opportunity Funds, led by Ishay Davidi, which became the controlling shareholder of Amal and Beyond Group in 2022, with the purchase of an 80% stake at a NIS 1 billion valuation. A year later, Bank Hapoalim's Poalim Equity and insurance company Migdal became investors in Amal and Beyond Group, at a NIS 1.5 billion valuation.
The sector in which Amal Group operates is stable and solid, but can still be subject to upheavals. Earlier this month, the Jerusalem District Court handed down a decision on petitions against a tender by the National Insurance Institute (NII), under which nursing care companies had been operating since 2009. This led to a sharp fall in the shares of Danel Nursing and Tigbur Nursing.
NII tenders are a critical component of Amal and Beyond Group’s revenue. In 2024, revenue from NII constituted about 58% of the total. It appears that because of this the company's valuation in the IPO was reduced by about NIS 400 million from what it was aiming for at the beginning of the process.
Published by Globes, Israel business news - en.globes.co.il - on November 27, 2025.
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