RIYADH: On the opening day of the Global Health Exhibition in Riyadh on Monday, Saudi Minister of Health Fahad Al-Jalajel revealed investment deals in the sector totaling over SR50 billion ($13.3 billion).
Notable agreements include a SR4 billion pharmaceuticals-manufacturing partnership between NUPCO, Novo Nordisk, and Sanofi, a SR5 billion expansion by Fakeeh Care Group, and a SR3 billion investment by Almoosa Health Group to establish five primary care centers and two hospitals.
Other significant deals involved Dallah Health acquiring Al-Salam and Al-Ahsa hospitals, adding 749 beds to the Eastern Province's healthcare system. Dallah also plans a new Riyadh hospital with 250 beds and potential for expansion, valued at SR4 billion.
The seventh Global Health Exhibition, themed 'Invest in Health,' commenced on Monday at the Riyadh Exhibition and Convention Center and runs until Wednesday. It convenes government leaders, industry experts, and healthcare professionals to explore transformative investments in Saudi Arabia's healthcare sector, according to organizers.
During his opening speech, Al-Jalajel emphasized Saudi Arabia's role as a leading regional investor in healthcare, guided by the Health Sector Transformation Program under Vision 2030.
"Our aim is for Saudi Arabia to become a hub for addressing global challenges through a unified government approach, focusing on innovation, digital solutions, and artificial intelligence," he stated.
Investment in private health insurance has surged, with over 12 million insured by 2023, up from 3 million in 2011. Al-Jalajel projected the market, currently worth SR40 billion, to double by 2030.
In addition to investment deals, strategic partnerships and other agreements across the healthcare sector were announced, including collaborations between universities, healthcare institutions, and the private sector to enhance research, innovation, and professional development in the Kingdom.
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