Middle East-focused private healthcare provider NMC Health (NMC) looks set to ramp up its regional expansion through a joint venture in Saudi Arabia. NMC already has a presence in the Kingdom, but the proposed deal with Hossana Investment Company, the investment arm of Saudi’s largest pension fund General Organisation for Social Insurance (GOSI), gives it the scope to increase this significantly.
The joint venture will see the creation of a new national healthcare company in the Kingdom. GOSI will transfer its 39 per cent stake in the National Medical Care Company into the joint venture which, when combined with NMC’s existing interests, will have 1,489 private beds in the country and be strongly positioned to participate in the expected privatisation of healthcare in Saudi Arabia in the coming years.
