Shorooq partners with Gulf Capital to back SANTECHTURE’s expansion in Saudi Arabia and the UAE
Gulf Capital and Shorooq Partners have partnered to back SANTECHTURE, a healthtech, cloud-based Software as a Service (SaaS) company that aims to revolutionise healthcare in Saudi Arabia and the UAE through its end-to-end Revenue Cycle Management (RCM) software solutions. The firms have been working together for some time, and this latest venture is a clear indication of their shared belief in the long-term growth potential of the healthcare and healthtech industries in the region.
The collaboration between Gulf Capital and Shorooq Partners marks a significant milestone in the development of the technology ecosystem in the Middle East and serves as a strong testament to the maturity of the venture capital and private equity industries. Gulf Capital has a history of investing in the technology, fintech and healthtech sectors while Shorooq Partners brings a wealth of knowledge and expertise in technology investing, spotting emerging trends, and backing founders and startups that have the potential to disrupt established industries.
Mohammad Madani, Managing Director at Gulf Capital said, “We are thrilled to welcome Shorooq as our newest partner given our shared vision for SANTECHTURE’s prospects, its expertise in investing in SaaS platforms and the overall evolution of the healthcare market in our region. The long and growing list of blue-chip customers in both Saudi Arabia and the UAE is a strong testimony to the effectiveness and appeal of RCM solutions. We are committed to continue supporting SANTECHTURE on its next phase of growth across the region as it scales operations, invests further in deep tech and AI technologies and expands its innovative software solutions across new segments.”
There has been a growing demand for quality healthcare services across Saudi Arabia and the UAE with increasing emphasis on managing the financial aspects of delivery effectively. The adoption of digital technologies for scalable infrastructure for the healthcare industry has become a clear and growing trend for maturing markets. RCM software and AI tools are paving the way for hospitals and clinics to automate manual processes, reduce potential errors through evidence-based suggestions, and improve overall efficiency. SANTECHTURE is at the forefront of RCM innovation across the GCC region with its innovative SaaS solutions and flagship products.
Anas Batikhi, Founder and CEO of SANTECHTURE, said: “We are excited and thrilled to partner with Gulf Capital and Shorooq Partners, whose expertise, strategic support, and growth capital will further extend our market leadership and ambitious expansion across KSA, UAE and beyond. Our specialised products are revolutionising healthcare technology in the area of RCM by providing artificial intelligence (AI) powered cloud-based solutions, democratising the adoption of emerging technologies across enterprise and SME healthcare providers, cutting cost, reducing claim rejections, and providing valuable insights towards value-based healthcare.”
