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NMC Health, Hassana Investment sign agreement to build Saudi healthcare network

Published: Updated:

NMC Health said it has signed an agreement with Hassana Investment Company, the investment arm of the General Organization for Social Insurance (GoSI) of Saudi Arabia, to develop a pan Saudi Arabian network of world-class healthcare facilities.

The memorandum of understanding targets a total investment of 6 billion Saudi riyals and the employment of up to 10,000 staff over the next five years, NMC said in a statement.

Chief Executive Officer of Hassanah Investment Company Saad Bin Abdulmohsen Al-Fadhly said the partnership includes ambitious plans to grow in different health sectors noting that both parties are committed to provide the highest standards of healthcare services.

NMC CEO Prasanth Manghat said the partnership comes as an extension to the company’s vision to expand in its geographic scope by providing integrated healthcare services via a wide group of aspects whether through developing IVF, providing long-term healthcare, developing plastic surgery operations and departments and establishing modern centers in pediatrics and diabetics according to the Kingdom’s needs and aspirations.

Manghat also voiced his appreciation of the public sector’s efforts and providing the facilitations to achieve this purpose.

NMC is one of the most important foreign investors in the healthcare sector in the Kingdom, and this strategic partnership will help adopt the best medical practices.

This partnership between NMC and Hassanah will be completed after specifying the ownership percentages and signing the final deals that submit to a number of major measures which must be finalized.