Dubai: UAE’s Amanat Holdings is fleshing out its healthcare strategy with a new deal in Saudi Arabia. It is aligning with Mada International Holding, an infrastructure developer in Saudi Arabia, to collaborate on Ministry of Health’s Public-Private Partnership projects in the Kingdom. These will focus on long-term care and rehabilitation services.
The two will participate in a new 900-bed PPP-based post-acute care tender in Riyadh and Dammam.
DFM-listed Amanat had been talking about launching a standalone healthcare company as it seeks to expand its interests in this space. The goal is to build a 1,000-bed healthcare capacity within three years - this is where the Saudi move comes in.
"Amanat and Mada International Holding share a commitment to providing world-class healthcare services in Saudi Arabia, and by working closely together will help drive the Kingdom’s healthcare vision,” said Hamad Alshamsi, Amanat's Chairman.
The Amanat Healthcare platform currently includes the Cambridge Medical and Rehabilitation Centre. Mada has worked on multiple 'prestigious' projects, which include the Prince Mohammed Bin Abdulaziz International Airport (Madinah), Modern Milling Company and City Cool.
"Our shared vision of advancing the healthcare infrastructure in the Kingdom, addressing the demand-supply gap in extended care services, and enhancing the quality of life for citizens and residents has brought us together," said Dr. Ibrahim Al Rajhi, Chairman of Mada. "We remain committed to providing world-class healthcare services and facilities to the people of Saudi Arabia."
Healthcare investments will remain a major draw in the UAE and Saudi Arabia through the medium-term. Recently, Burjeel Holdings, the Abu Dhabi based hospital operator, had confirmed its entry into the potentially lucrative Saudi market.