Saudi Arabia has relinquished management of Saudia Medical Services Company (SMS), the kingdom’s first state-run medical entity.
Soliman Abdel Kader Fakeeh Hospital Company takes control of SMS after it acquired majority stakes of the medical entity owned by national carrier Arabian Airlines, Jadwa Investment, which acted as exclusive advisor on the operation, said.
“We are proud to have worked with Saudia and SMS on this landmark initiative, and towards completing the first privatization transaction of a government-owned healthcare entity under the government’s privatization program. This transaction exemplifies the promising opportunities for the private sector to play a key role in realizing Saudi Arabia’s Vision 2030,” Jadwa Investment CEO, Tariq Al-Sudairy said.
Established in 1970, SMS provides medical care to over 140,000 employees and dependents of Saudi Arabian Airlines and its subsidiaries. The entity is also the largest provider of aviation and occupational medicine in Saudi Arabia and serves over 15,000 pilots and cabin crew in the kingdom.
