Abu Dhabi – Mubasher: NMC Health, a UAE-based private healthcare operator, has announced the signing of a non-binding agreement with Hassana Investment Company (HIC), the investment arm of Saudi Arabia’s General Organisation for Social Insurance (GOSI), to launch a joint venture (JV) healthcare platform.
To be located in Riyadh, the planned JV would create a large private healthcare platform in the kingdom that allows more efficient deployment of capital, increasing patient choice, and optimising returns across multiple assets, according to Emirates News Agency (WAM).
"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,” NMC’s CEO Prasanth Manghat commented.
The project's value was not released.
"The proposed partnership between Hassana and NMC is driven by our view that healthcare in Saudi Arabia is one of the most attractive markets for strong long-term growth,” HIC’s CEO Saad bin Abdulmohsen Al-Fadly said.
GOSI is the largest pension fund in Saudi Arabia, WAM reported.
