NMC Health and Saudi state-run investment group Hassana have concluded a SR6bn (£1.2bn) deal to develop a new network of facilities in the Kingdom.
The agreement, signed late last week, will see NMC expand its scope of care and footprint throughout the Desert Kingdom - potentially creating as many as 10,000 new jobs.
Abu Dhabi based NMC are one of the biggest healthcare groups in the Gulf, employing more than 1,200 doctors throughout the region - with this expansion into Saudi Arabia set to further consolidate their market position.
The group’s expansion in Saudi is focused on developing specialist centres based on five areas: IVF, long-term health management, plastic surgery, paediatrics and endocrinology. All areas where demand is expected to continue to grow in the near future.
Hassana meanwhile are the investment arm of Saudi’s social insurance group, and their CEO, Saad bin Abdul Mohsen Al Fadhli, outlined his aims.
He said: “The partnership between Hassana and NMC Saudi Arabia has ambitious growth plans across different health care sub-sectors. Both sides are committed to providing the highest standards of health services and boosting revenues.”
Whilst NMC CEO Prasanth Manghat explained their decision to invest in the Kingdom. He added: “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.”
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