IFC-supported saudi healthcare PPP awarded to leading diagnostic imaging company

IFC-supported saudi healthcare PPP awarded to leading diagnostic imaging company

Riyadh, Saudi Arabia: One of Saudi Arabia's first public-private partnerships (PPP) in the healthcare sector, which will help deliver better radiology and imaging services to more than 1 million beneficiaries across seven hospitals, has been awarded to Altakassusi Alliance Medical (AAM) following an open tender. IFC was the lead transaction advisor for the project, assisting Saudi Arabia's Ministry of Health in structuring the PPP and implementing the project. The PPP will also offer the country's first remote reading and reporting diagnostic services in the linked hospitals, serving under-served and remote areas which will benefit some of the poorer segments of the market.

AAM, a leader in regional diagnostic imaging, is a joint venture between Alliance Medical Group, Europe's leading independent provider of imaging services; Nexus Gulf Healthcare; and King Faisal Specialist Hospital International Holding.

AAM will operate and maintain the radiology and nuclear medicine departments across the seven hospitals, employing more than 450 staff. Through AAM's 10-year capital investment plan, the PPP will help improve the quality and efficiency of medical imaging services and help maintain or replace vital equipment.

IFC has been supporting PPPs in Saudi Arabia and the country's Vision 2030 strategy, which aims to unlock private investment across key sectors.