Fremix Global Investment (Fremix) has announced the completion of its acquisition of 60% of the shares of Gulf New Care (GNC) in the Kingdom of Saudi Arabia. This step is part of Fremix's expansion strategy to enter the healthcare sector, as the company aims to make Gulf New Care a cornerstone of an integrated system that aligns with the objectives of Saudi Vision 2030.
The deal was announced during an official signing ceremony in Riyadh, attended by the Deputy Minister of Investment, Mohammed bin Abdulrahman Aba Hussein, representatives from government entities, as well as leaders from both companies and several ambassadors, doctors, and business leaders. This investment reflects the ongoing support provided by the Saudi leadership to empower the healthcare sector and enhance quality partnerships.
Event Details
Gulf New Care is considered one of the rapidly growing companies in the neonatal care sector, serving a wide network of over 700 clients and covering 90% of the cities in the Kingdom. This investment is based on the company's outstanding operational performance, which enhances the opportunities for developing high-quality healthcare services.
Ibrahim Hael Said, Chairman of Fremix, stated that this acquisition represents a pivotal point in the company's strategy to build solid investment entities in vital sectors. He emphasized that Fremix adopts a governance-based approach, which enables it to enhance Gulf New Care's presence in the healthcare system in the Kingdom.
Background & Context
Gulf New Care was established in 2011, in partnership with Dr. Khalid Marji Al-Falih, with the aim of building an entity measured by the quality of its impact. The company has proven its ability to comply with high-quality standards, making it an ideal strategic partner for Fremix.
Fremix, which has a legacy dating back to 1938 in building industrial and commercial platforms, seeks to integrate its expertise with the specialized capabilities of Gulf New Care, thereby enhancing its ability to fill gaps in specialized medical supplies.
Impact & Consequences
This investment is expected to contribute to the qualitative transformation of the Saudi healthcare sector by establishing institutional entities capable of competing locally and regionally. It will also help achieve sustainable value for partners and the community.
Shawqi Ahmed Hael Said, Chief Operating Officer of Hael Said Anam Group, expressed his happiness with this partnership, noting that the group will leverage its operational expertise to support the success of this new partnership and enhance integration and mutual growth.
Regional Significance
This deal reflects positive trends in the Kingdom towards enhancing investments in the healthcare sector, contributing to improving the quality of life for citizens. It also strengthens Fremix's position as a strategic investor in Saudi Arabia, opening new horizons for cooperation in other fields.
This step is part of the Kingdom's efforts to diversify the economy and improve healthcare services, contributing to achieving the goals of Vision 2030.