RIYADH: Arabian International Healthcare Holding Co., also known as Tibbiyah, has signed a agreement with Nephrocare Health Services to form a joint venture providing dialysis services in the Kingdom.
According to a statement on Tadawul, a limited liability company for dialysis care services will be established in Saudi Arabia as a part of the deal in which 49 percent of shares will be held by Tibbiyah, while the remaining 51 percent will be owned by Nephrocare, also known as NephroPlus.
The new company will provide dialysis care services by investing, operating, managing and maintaining departments or divisions of hospitals, medical centers and clinics in the public and private sectors, the statement added.
Tibbiyah noted that the formation of the joint venture comes in line with the company’s long-term goal to become a diversified health care holding firm.
“This partnership combines the expertise and experience of two high-quality health care providers, creating new opportunities to further develop and expand our health care services in the Kingdom, and enables Tibbiyah to enter attractive health care market segments that have strong fundamentals conducive to growth and as one of the main players in the Kingdom’s health care sector,” said Alaa Ameen, CEO of Tibbiyah.
Strengthening the role of the private sector in the health care industry is a key goal outlined in Saudi Arabia’s Health Sector Transformation Program, outlined in Vision 2030.
The strategy aims to strengthen the contribution of the private sector in supporting the Kingdom’s efforts to achieve its national health goals and ensure everyone has access to high-quality health care.
Vikram Vuppala, CEO of NephroPlus, said that the company is excited to join hands with Tibbiyah and provide quality dialysis services to people in Saudi Arabia.
“We hope the joint venture with Tibbiyah is another big step ahead toward fulfilling the mission of NephroPlus by ensuring the long-term sustainability of high-quality dialysis services in the communities we serve,” said Vuppala.
He added: “With our patient-centric care model, and our combined experience and infrastructure, we will be able to offer dialysis patients high quality, efficient, and effective care and enable them to lead a long, happy and productive life.”
Operating under NephroPlus brand, Nephrocare Health Services is touted to be the world’s sixth-largest dialysis center network, the statement said.
Source: Arab News