Tibbiyah signs agreement to build dialysis services JV

Logo of Arabian International Healthcare Holding Co. (Tibbiyah)

Nomu-listed Arabian International Healthcare Holding Co. (Tibbiyah) entered into a definitive joint venture agreement with Nephrocare Health Services Private Limited and its affiliates, according to a statement on Tadawul.

Under the agreement, a limited liability company for dialysis care services will be established in the Kingdom. It will be 49% owned by Tibbiyah, while NephroPlus will hold the remaining 51%.

The new company will provide dialysis care services by investing, operating, managing and maintaining hospital departments, medical centers and clinics specializing in dialysis care services in the public and private sectors, the statement added.

The step comes in line with Tibbiyah’s strategy to become a diversified healthcare holding company.

The new JV is expected to be value accretive, with a clear plan to grow the business generally and the dialysis clinical care services particularly.

Operating under NephroPlus brand, Nephrocare Health Services is Asia’s leading and the world’s sixth-largest dialysis center network. Each NephroPlus center is a one-stop solution for all dialysis patient needs. With a strong commitment to quality, NephroPlus has redefined dialysis care across five countries, over 190 cities, 325 centers and has performed more than 10 million dialysis treatments.

The definitive JV agreement is subject to some pre-closing conditions, including, without limitation, obtaining the approval of the General Authority for Competition (GAC) as well as other conditions of a regulatory and commercial nature.