RIYADH: A new strategic partnership worth $214 million aims to enhance private sector participation in and attract investment into Saudi Arabia’s healthcare industry.
Signed by the Ministry of Investment, Ministry of Health and ewpartners on Tuesday at the Global Health Exhibition in Riyadh, the agreement targets a number of areas under the Vision 2030 health transformation program.
Investment opportunities will be developed in dialysis services, rehabilitation medicine, fertility and IVF and medical diagnostics.
Advanced healthcare technologies are set to be introduced, and the agreement also aims to localize specialized medical capabilities while expanding access to healthcare nationwide.
The initiative supports national targets to raise the private sector’s contribution to healthcare delivery from 40 to 65 percent, strengthen competitiveness and foster innovation and knowledge transfer.
Ammar Altaf, assistant to the deputy minister of investment, said in a statement: “We look forward to working with ewpartners to bring leading Chinese healthcare technology companies to Saudi Arabia, together fostering a dynamic ecosystem for medical innovation in the Kingdom.”
Jessica Wong, founder and managing partner of ewpartners, added: “We are honored to collaborate with MoH and MISA to bring China’s proven healthcare technologies — starting with dialysis, rehabilitation, fertility and diagnostics — to Saudi Arabia.
“By localizing successful models from Asia, we aim to accelerate medical innovation and improve access to quality care for communities across the Kingdom.”
Since entering Saudi Arabia in 2017, ewpartners has invested in companies including Saudi Cloud Computing Co. (Alibaba Cloud–STC JV), Leshines (Lenovo supply-chain platform), Sahm Capital and J&T Express Middle East.
One of the first partners in its entry into healthcare in Saudi Arabia is EverLife Healthcare, the world’s fourth-largest nephrology and dialysis network.
