DUBAI, UAE: Amanat Holdings PJSC, the leading healthcare and education listed investment company, and Mada International Holding, one of the leading and well diversified infrastructure developers in the Kingdom of Saudi Arabia (KSA), have announced a strategic partnership to collaborate on public-private partnership (PPP) projects in the healthcare sector in Saudi Arabia, with a focus on the long-term care and rehabilitation segment.
The partnership aims to unlock significant PPP opportunities in Saudi Arabia, starting with the participation in the upcoming 900-bed PPP post-acute care tender in Riyadh and Dammam. This is a key milestone in the value creation strategy for Amanat Healthcare and is expected to accelerate the company’s target of delivering 1,000 beds. Mada International Holding is committed to be a leading player in infrastructure development and privatization initiatives in the Kingdom of Saudi Arabia. The partnership also supports the goals of Saudi Arabia’s Vision 2030 and the Kingdom’s efforts to address an estimated 16,000 bed supply gap in the post-acute care.
The partnership brings together two entities with extensive expertise and experience in Saudi Arabia. Amanat, through its healthcare platform Amanat Healthcare which includes Cambridge Medical and Rehabilitation Centre, is the market leader in post-acute and long-term care in the GCC. Mada International Holding, is at the forefront of large-scale PPP projects in Saudi Arabia and already plays a pivotal role in a number of prestigious projects, such as the Prince Mohammed Bin Abdulaziz International Airport (Madinah), Modern Milling Company and City Cool.
The partnership was signed at a ceremony held at Mada International Holding’s Headquarters in Riyadh, Saudi Arabia, in the presence of Mr. Hamad Alshamsi, Chairman of Amanat Holdings, Dr. Ibrahim Al-Rajhi, Chairman of Mada International Holding, Dr. Howard Podolsky CEO of Cambridge Medical and Rehabilitation Centre and Mr. Abdulmohsen AlBazie, CEO of Mada International Holding.
Amanat Holdings Chairman, Hamad Alshamsi, said: “Our partnership with Mada International Holding is a key milestone in Amanat’s value creation strategy, enabling us to immediately collaborate on potential PPP projects in Saudi Arabia’s long-term care and rehabilitation sector, with the goal of accelerating the delivery of our planned 1,000 bed capacity within three years. Both Amanat and Mada International Holding share a commitment to providing world-class healthcare services in the Kingdom of Saudi Arabia, and by working closely together will help drive the Kingdom’s healthcare vision.”
Mada International Holding Chairman, Dr. Ibrahim Al Rajhi, added: “We are delighted to announce today’s partnership with Amanat. 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. We remain committed to providing world-class healthcare services and facilities to the people of Saudi Arabia. This partnership is a testament to our dedication towards achieving this goal and we look forward to working closely with Amanat and leveraging our collective expertise and resources to drive innovation and excellence in the healthcare sector.”