A strategic step towards developing the healthcare sector in Saudi Arabia
In a significant investment move reflecting the attractiveness of the Saudi market, Fremex Global Investment Company (Fremex), the investment arm of Hayel Saeed Anam Group (HSA) in the GCC, announced the completion of a major acquisition of a 60% stake in Gulf Neocare (GNC) in Saudi Arabia. Gulf Neocare is a rapidly growing national company specializing in vital sectors including neonatal care, pharmaceuticals, medical devices, and health products.
Signing ceremony and government support for investment
The Saudi capital, Riyadh, witnessed the official signing ceremony for this strategic deal, attended by high-level officials including the Deputy Minister of Investment for Integrated Investor Services, Mr. Mohammed bin Abdulrahman Aba Hussein, along with a select group of representatives from the Ministry of Investment and other relevant government entities. Senior executives from both companies, as well as a number of ambassadors, physicians, and business leaders, were also present. This high-level government presence underscores the Kingdom's leadership's ongoing support for empowering the private healthcare sector and attracting high-quality foreign and regional investments that contribute to improving the quality of healthcare services.
Alignment with the objectives of Saudi Vision 2030
This acquisition is perfectly aligned with the Healthcare Transformation Program, a key component of Saudi Vision 2030, which aims to restructure the healthcare sector into a comprehensive, efficient, and integrated healthcare system. Through this move, Fremex aims to make Gulf New Care the cornerstone of a scalable and integrated healthcare ecosystem. This strategy builds upon the outstanding operational performance of GNC, which boasts a vast network serving over 700 clients and whose logistical and medical services cover approximately 90% of the Kingdom's cities and regions.
Integration of expertise: historical legacy and modern logistical capabilities
This deal is significant because of the complementary expertise of the two entities. Hayel Saeed Anam Group boasts an industrial and commercial legacy dating back to 1938 and operates in more than 15 countries worldwide. Gulf New Care, on the other hand, was founded in 2011 by Dr. Saleh Abdulrahman Al-Olayan and Dr. Khalid Marji Al-Faleh, and has quickly developed advanced logistics capabilities. The company owns a state-of-the-art logistics center in Riyadh that fully complies with the stringent standards of the Saudi Food and Drug Authority (SFDA), supported by a refrigerated transport fleet that ensures the safe delivery of medicines and vital supplies to major hospitals and healthcare institutions in both the public and private sectors.
Leaders' vision for the future of partnership
Professor Ibrahim Hail Saeed, Chairman of the Board of Directors of Fremex, affirmed that this acquisition represents a pivotal step in building robust investment entities in vital sectors, based on a disciplined governance approach. For his part, Professor Shawqi Ahmed Hail Saeed, Chief Operating Officer of the Group, explained that the Group's operational expertise will be leveraged to support this integration and implement global best practices to enhance efficiency.
In a related context, Professor Jamal Abdulwasea Hail Saeed, Vice Chairman of the Board of Directors of Fremex and Chairman of the Board of Directors of Gulf New Care, indicated that the next phase will witness a qualitative transformation based on four main pillars: investment in human capital, geographic expansion, digital transformation, and diversification of services. This collaborative approach ensures the achievement of sustainable value for companies and society, and bridges gaps in specialized medical supplies, thus enhancing health and pharmaceutical security in the Kingdom of Saudi Arabia.
