Dubai based NMC Health have this week sealed a deal that will see it become the second largest private healthcare provider in Saudi Arabia.
The growth comes as a result of a new partnership that will combine NMC’s Saudi assets with those of the Kingdom’s biggest pension investment provider - Hassana.
As we reported last month, it is estimated that the Desert Kingdom will require an additional 20,000 hospital beds by 2035, and policies introduced to help grow healthcare in the country were a major attraction to NMC, as the company’s CEO, Prasnath Manghat, explained.
He said: “The Saudi government’s forward looking and investor friendly policies make the Kingdom one of the most attractive destinations in the region for investment in the healthcare sector.
“Hassana’s strong commitment to the sector, particularly in the form of strategic investments, remains a vital means of attracting and developing health care expertise in the country. The partnership between NMC and Hassana would offer a tremendous opportunity for both the companies to better serve the KSA healthcare market.”
The value of Saudi Arabia’s healthcare market is expected to rise by $30bn between now and 2022, with some of the Gulf’s biggest providers keen to get involved in the expanding sector.
High levels of investment combined with increasingly liberal laws, and a comparatively low cost of living are making Saudi Arabia a seriously popular destination with medics seeking a more rewarding career overseas.