NMC finalises terms of healthcare joint venture with Saudi Arabia’s GOSI - The National:
NMC Health finalised a joint venture agreement with Saudi Arabia’s General Organization for Social Insurance that includes up to 6 billion riyals of investments in the kingdom over a five-year period.
NMC, a London-listed UAE healthcare provider, signed a preliminary agreement in October last year with Hassana Investment Company, the investment arm of GOSI, to set up a joint venture that will acquire and develop facilities with a capacity of up to 3,000 beds and employ up to 10,000 full-time and part-time employees.
“This partnership will allow NMC to significantly increase its pace of expansion in the Kingdom, while simultaneously bringing best practices to the country,” said Prasanth Manghat, the chief executive of NMC in a statement on Tuesday. “The attractive, but under-served Saudi healthcare market offers significant growth opportunities and the JV is uniquely placed to benefit from them."
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