NMC Health and Hassana Investment Company Sign MoU to Target Investments Valued up to SAR 6 Billion

RIYADH, NMC Health (NMC), a London-listed international private healthcare operator with operations across 17 countries, and Hassana Investment Company (Hassana), the investment arm of the General Organization for Social Insurance (GOSI) of Saudi Arabia, have signed an MoU that aims to form a joint venture (JV) to acquire and develop a pan Saudi Arabia network of world-class healthcare facilities with a capacity of up to 3,000 beds. This MoU targets a total investments value of up to SAR 6 billion over the next 5 years and to employ up to 10,000 employees, including full- and part- time positions. At inception, the proposed JV will become one of the largest private healthcare operators in Saudi Arabia with a combined capacity of 1,489 beds (664 beds contributed by five NMC facilities and 825 beds by two National Medical Care facilities.

NMC and Hassana have signed the MoU on the sidelines of the Future Investment Initiative (FII) 2018, the second edition of a major conference-taking place in the Saudi capital Riyadh from October 23rd � 25th, organized by the Public Investment Fund (PIF) of Saudi Arabia and attended by global investors, CEOs and business and governmental leaders.

Source: Saudi Press Agency