Riyadh - Sharikat Mubasher: The UAE-based Burjeel Holdings, a leading provider of super-specialty healthcare services, signed a joint venture framework agreement with Colombia’s Keralty to create a joint venture (JV) for cost-efficient healthcare solutions in the Middle East and North Africa (MENA) region, a recent statement revealed.
The new JV, named Al Kalma, will debut in Saudi Arabia and expand in the UAE and other Middle East countries, leveraging the shift in the Saudi healthcare market towards a primary healthcare model.
The agreement was signed in a ceremony attended by Shamsheer Vayalil, Founder and Chairman of Burjeel Holdings, John Sunil, CEO of Burjeel Holdings, Joseba Grajales, President of Keralty, and Emilio Herrera, CHO of Keralty.
Al Kalma will consolidate a unique value-based healthcare model with specialized primary care centers, health risk management, and a new range of integrated mental health services, expecting to reach around 30 million patients over the next decade.
Under this partnership, Burjeel will provide the highest standards of care through an integrated network of hospitals, medical centers, and pharmacies. Additionally, the JV will leverage Keralty’s successful healthcare model based on the prevention, detection, and management of health risks, as well as the control and care of diseases and dependency.
Commenting on this partnership, Vayalil affirmed it represents a “significant milestone” for the company towards providing better health for a diverse range of populations.
“Our unique model envisions comprehensive well-being, from prevention to control and care of disease in order to enhance services and patient outcomes on a local, personalized level. This approach will keep people healthier and out of hospitals, leading to a substantial shift in healthcare delivery,” Vayalil added.
Meanwhile, Keralty’s Grajales commented: “We are delighted to partner with Burjeel Holdings to extend our distinctive healthcare model to new regions. This model, successfully scaled from Colombia to numerous countries, is continuously enriched by our collective experiences.”
The JV partnership will be operated through a newly formed holding company established in the Abu Dhabi Global Market jurisdiction. Burjeel Holdings and Keralty will each hold an equal 50% shareholding.
