Arabian International Healthcare Holding Company ("Tibbiyah"), a leading integrated healthcare solutions provider in Saudi Arabia, today announced a definitive Joint Venture Agreement with BGI Almanahil Health for Medical Services, a subsidiary company of BGI Health (HK) Co., Ltd, in the formation and operation of a limited liability company to be called Saudi Advanced Medical Lab LIMITED ("SAMLL") in Saudi Arabia.
The new company, owned 50% by BGI Almanahil and 50% by Tibbiyah, will provide clinical laboratory testing and bio-information services to hospitals, research institutes, and medical centers and clinics for both public and private sectors.
The CEO of Al Faisaliah Group, Mr. Ziad Al Tunisi, said at the signing ceremony on July 26, "We are delighted to announce this signing of Tibbiyah-BGI Almanahil Joint venture Agreement and believe it will strengthen Tibbiyah's position as a strong player in the underserved highly specialized clinical laboratory testing KSA healthcare market and reinforce its status as a leading diversified healthcare company."
This partnership combines the expertise and experience of two high-quality Healthcare providers, creating new opportunities to further develop and expand our healthcare services in the Kingdom, and delivers Tibbiyah strategy to enter into attractive healthcare market segments that have strong fundamentals conducive to growth and as one of the main players in the Kingdom Healthcare Sector."
Mr. Ziad Al Tunisi, CEO of Al Faisaliah Group
The CEO of BGI Group, Dr. Yin Ye, said, "The pandemic has posed a tremendous challenge to human society. However, some might also develop true friendship through their shared experiences. In 2020, BGI assisted the Saudi Ministry of Health to establish five 'Huo-Yan' laboratories across the Kingdom within two months, and completed more than 18 million PCR tests in the past two years. We believe that by working together, we can apply the most advanced genetic technology to benefit the health of the people, not only in Saudi Arabia but also in the Middle East in the long term. I am convinced that we will achieve this goal together."
The CEO of BGI Genomics, Mr. Zhao Lijian said, "With the advantages of both parties, I believe that SAMLL will become the most advanced and competitive independent clinical laboratory, which will better serve the patients and clients, maintain the highest quality standards, continuously introduce new clinical testing services and medical technology to the Kingdom Healthcare Sector."