NMC JV to create Saudi healthcare platform

dubai - The venture will have a strong foothold in Riyadh and smaller cities

NMC Health has announced the signing of a non-binding agreement to form a joint venture healthcare platform with Hassana Investment Company, the investment arm of the General Organisation for Social Insurance (Gosi), which is the largest pension fund in Saudi Arabia.

The proposed joint venture would create one of the largest private healthcare platforms operating in KSA today. The venture would have a strong foothold in Riyadh, as well as in multiple smaller, underserved cities. The enlarged organisation is expected to benefit from economies of scale, allowing more efficient deployment of capital, increasing patient choice and optimising returns across multiple assets.

Prasanth Manghat, CEO of NMC, said: "We identified KSA as a key strategic priority for NMC and the proposed partnership between NMC and Gosi/Hassana would offer a tremendous opportunity for both the companies to better serve the KSA healthcare market. 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."

- business@khaleejtimes.com