By Innovation-sa on October 31, 2018 in News

London-listed NMC Healthcare and Saudi Arabia’s Hassana Investment Company, has signed a memorandum of understanding (MoU) to establish a network of medical facilities across the Kingdom.


The joint venture targets to become one of the largest private healthcare operators in the Kingdom with a total investment of $1.6 billion and aims to provide employment to over 10,000 staff in the next five years.


“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,” said NMC CEO Prasanth Manghat.


“The partnership between Hassana and NMC Saudi Arabia has ambitious growth plans across different health care sub-sectors. Both sides are committed to provide the highest standards of health services and boost revenues,” said Saad bin Abdul Mohsen Al Fadhli, CEO of Hassana, the investment arm of Saudi Arabia’s General Organisation for Social Insurance (GOSI).


The agreement is part of the “Invest in Saudi Arabia” initiative, launched within the National Transformation Program (NTP) 2020.


Arab News – 28 October 2018