Will AL KALMA Redefine Healthcare in the MENA Region?
Burjeel Holdings PLC, a healthcare provider listed on the ADX in the MENA region, has just signed a new Joint Venture Framework Agreement. This deal is with Keralty S.A.S, a major health organisation from Colombia. The agreement was signed in Cartagena de Indias, Colombia, and the aim is to create a joint venture called AL KALMA. The goal of this venture is to provide high-quality healthcare at affordable prices, enhancing well-being throughout the entire healthcare value chain.
AL KALMA means 'united for health and well-being', and it’s set to bring a unique value-based healthcare model to the region. This includes specialised primary care centres, health risk management, and new integrated mental health services. They expect to reach nearly 30 million patients over the next decade. The partnership combines the strengths and expertise of both organisations for a swift rollout in the Middle East, starting with Saudi Arabia, and potentially expanding into North Africa.
Keralty has been around for nearly 50 years and operates in nine countries, including the US and Colombia. They bring their successful healthcare model, which focuses on prevention, detection, and management of health risks, to the joint venture. Burjeel Holdings, with a strong presence in the Middle East, offers top-notch care through its network of hospitals, medical centres, and pharmacies, particularly in complex and specialised services.
The partnership was announced in a ceremony attended by key figures such as H.E. Mohammed Abdullah bin Khater Al Shamsi, UAE Ambassador to Colombia, Dr. Shamsheer Vayalil, Founder and Chairman of Burjeel Holdings, and senior leaders from both organisations.
Joseba Grajales, President of Keralty, expressed excitement about the partnership, highlighting how their healthcare model, which has been successful in Colombia and other countries, will now reach new regions. Dr. Shamsheer Vayalil emphasised that this partnership is a significant milestone, aiming to provide better health outcomes by focusing on prevention and personalised care, keeping people healthier and reducing hospital visits.
The joint venture will be managed through a new holding company in the Abu Dhabi Global Market, with both Burjeel Holdings and Keralty holding equal shares. More details about the expansion plans will be shared later.
Through AL KALMA, both companies are committed to improving global health by providing quality healthcare and promoting well-being, sustainability, and efficiency. This agreement not only strengthens the relationship between Colombia and the UAE but also aims to benefit millions of people worldwide.
