UAE’s NMC eyes bidding for Saudia medical unit, says CEO

United Arab Emirates-based NMC Health Plc is interested in bidding for Saudi Arabian Airlines’ (Saudia) medical services business, Bloomberg reported on Sunday, citing the company’s founder and chief executive, Bavaguthu Raghuram Shetty.

NMC, which is listed on London Stock Exchange, is also planning to acquire other hospitals and medical facilities in Saudi Arabia.

“Whenever there is a chance, I'll go. We have surplus funding, no problem,” Shetty added.

Saudi Arabia plans to privatize several public sectors and government entities, as part of fiscal reforms announced last year to reduce the economy’s reliance on oil. 

Last month, Reuters reported that Saudia was in the process of selling its medical business, valued at nearly $500 million, as part of its plan to reduce non-core assets.

The deal could be completed by the third quarter, it was reported.

Jeddah-based Saudia Medical Services provides outpatient services for the national airline and several others of its group companies.

The state-owned carrier had earlier privatized several units including Saudi Airlines Catering, Saudi Ground Services, Saudi Airlines Cargo, and Saudia Private Aviation.