New venture to create cost-efficient healthcare solutions in Mena

Burjeel Holdings PLC, an ADX-listed super-specialty healthcare services provider, on Monday announced the signing of a joint venture framework agreement to create a joint venture, Al Kalma, with Keralty S.A.S, a multinational health organization based in Colombia.

The agreement was signed in Cartagena de Indias, Colombia. The alliance aims to enhance well-being throughout the value chain by promoting access to high-quality healthcare at an affordable cost.

Al Kalma, a name that signifies ‘united for health and well-being’, will consolidate a unique value-based healthcare model with specialized primary care centers, health risk management, and a new range of integrated mental health services, expecting to reach nearly 30 million patients over the next decade.

The joint venture partnership will be operated through a newly formed holding company established in the Abu Dhabi Global Market jurisdiction. Burjeel Holdings and Keralty will each hold an equal 50% shareholding.

The strategic partnership combines the experience and knowledge of both groups for a rapid roll-out in the Middle East, with the potential to extend subsequently into North Africa. The joint venture will debut in Saudi Arabia, leveraging the shift in the Saudi healthcare market towards a primary healthcare model. The collaboration aims to extend services beyond the region by evaluating each market and executing the strategy on a country-by-country basis.