08 June 2023, Riyadh, Saudi Arabia - Project will benefit more than one and a half million patients across seven hospitals.

Nexus Gulf’s diagnostic imaging consortium, Altakassusi Alliance Medical, was awarded one of the Kingdom’s first public-private partnerships (PPP) in the healthcare sector by the Ministry of Health following an open tender. The IFC supported project will help deliver better radiology and imaging services to more than one million beneficiaries across seven hospitals. It will also offer the country’s first truly collaborative network to support staff across each of the hospitals, which will greatly enhance the quality of care provided in more remote parts of the Kingdom.

Altakassusi Alliance Medical, a leader in regional diagnostic imaging, is a joint venture between Nexus Gulf (a company co-founded and managed by Youssef Haidar and StonePine Capital Partners), Alliance Medical Group, Europe's leading independent provider of imaging services; and King Faisal Specialist Hospital International Holding.

Altakassusi Alliance Medical will work with more than 450 staff and will be responsible for managing patient services in the hospitals’ respective radiology and nuclear medicine departments. Through Altakassusi Alliance Medical’s 10-year capital investment plan, the PPP will improve the quality and efficiency of medical imaging services by introducing new information and technology capabilities, while helping to maintain or replace vital equipment when required. In addition, healthcare workers will be given training and development opportunities to hone their skills in line with global best practices.

The Ministry of Health described how this project which was tendered in cooperation with NCP will extend for 10 years aiming to increase the capacity of beneficiaries to 1,500,000 in Riyadh and its remote surrounding areas. All treatments and radiology services will be provided free of charge and comply with the highest international standards in addition to increasing quality of treatment and service this venture aims at reducing wait time for patients by enhancing and maintaining all radiology units in the seven hospitals as well as invest in new ones.

“Saudi Arabia has been actively improving healthcare by creating opportunities for the private sector aimed at creating value for patients. Altakassusi Alliance Medical is dedicated to the success of this partnership and will look to combine the best in human capital, cutting-edge innovation and state of the art information technology, supported by a dedicated command control center to deliver quality diagnostics care for citizens and residents of the Kingdom alike,” said Nart Mamser, General Manager at Altakassusi Alliance Medical.

PPPs in Saudi Arabia have been gaining traction in recent years and are viewed as a direct enabler of the country’s Vision 2030 strategy, which aims to unlock private investment across key sectors. The project will serve as a pilot for the rollout of similar PPPs nationwide.

"Such projects stand at the core of our mission at Nexus Gulf Healthcare. They are a representation of our commitment to bring about significant, tangible improvements in healthcare services in Saudi Arabia, together with our leading local and international clinical partners” said Youssef Haidar, Founder and CEO of StonePine Capital Partners and Co-Founder and Executive Director of Nexus Gulf Healthcare.

The hospitals that will benefit from the PPP are as follows:

• King Fahad Medical City

• Prince Mohammed Bin Abdulaziz Hospital

• Al Dawadmi General Hospital

• Al Zulfi General Hospital

• King Khaled Hospital-Al-Majmaah

• Al Yamamah Hospital

• Al Artawiyah General Hospital

About Nexus Gulf Healthcare

Nexus Gulf Healthcare is an investment company focused on developing healthcare businesses in key verticals of specialized care across the GCC with a focus on KSA. Nexus Gulf Healthcare partners with leading international clinical operators to bring unique capabilities to the region. It is the result of partnership between Al Gihaz Holding, a diversified Saudi Arabian company with operations in conventional energy, renewable energy, communications infrastructure, security services, entertainment projects and healthcare, and StonePine Capital Partners, a private equity investor with a specialsied focus on healthcare investments.

About Altakassusi Alliance Medical

Altakassusi Alliance Medical is a KSA-based joint venture between Alliance Medical Group, King Faisal Specialist Hospital & Research Center and Nexus Gulf Healthcare. The alliance aims to build and operate a leading diagnostic imaging network to address the growing need for high quality, accessible and cost-efficient imaging diagnostic services in Saudi Arabia and beyond. This goal is closely aligned with Vision 2030, which envisions creating a comprehensive, effective, and digitally integrated healthcare network as part of its plan to transform the sector.

Through its winning combination of unrivaled expertise and world-class partnerships, Altakassusi Alliance Medical is committed to driving the development of state-of-the-art care for patients, and as such, its services include molecular imaging, routine imaging, tele-radiology, cyclotrons + isotope manufacturing and information systems.

For more information, please visit: altakassusi-alliance.com LinkedIn

Press contact:

• Khaled Abuhejleh
• Phone: +971 58 599 7226
• Email: abuhejleh@stonepine-capital.com