DUBAI, 11th September, 2023 (WAM) -- Amanat Holdings (Amanat), a leading healthcare and education listed investment company, and Mada International Holding, one of the leading and well diversified Infrastructure developer in the Kingdom of Saudi Arabia, today announce a partnership through which both parties will collaborate on Ministry of Health Public-Private Partnership (PPP) projects in Saudi Arabia, focused on the long-term care and rehabilitation segment.
The partnership unlocks potential for significant PPP opportunities in Saudi Arabia commencing with participation in the upcoming 900-bed PPP post-acute care tender in Riyadh and Dammam.
The combination of Amanat and Mada International Holding creates a powerful strategic partnership with extensive expertise in Saudi Arabia, that is optimally positioned to further unlock regional PPP opportunities and accelerate Amanat's expansion plans in the Kingdom.
Hamad Alshamsi, Amanat Holdings Chairman, 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."
Dr. Ibrahim Al Rajh, Mada International Holding Chairman, 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."