The establishment of the (New Joint Venture) between Tibbiyah and NephroPlus represents TIBBIYAH’s continuous investment in the healthcare services vertical, being a milestone that is in line with its strategy to become a diversified healthcare holding company. Eventually, the New Joint venture is expected to be value accretive, with a clear plan to grow the business generally and in dialysis clinical care services particularly.

Nephrocare Health Services Private Limited operates under NephroPlus brand. NephroPlus is Asia’s leading and world’s 6th largest dialysis center network. Each NephroPlus center is a one stop solution for all dialysis patient needs. With a strong commitment to quality, NephroPlus has redefined dialysis care across 5 countries, 190 plus cities, 325+ centers and has performed more than 10+ MM dialysis treatments till date patients. NephroPlus is in the process of redefining dialysis care in several other countries across the world; noting that NephroPlus’ s vision is to enable people on dialysis across the world lead long, happy and productive lives.

Tibbiyah’ CEO Mr. Alaa Ameen, states: “We are delighted to announce this signing of Tibbiyah-NephroPlus Joint venture Agreement and believe it will strengthen TIBBIYAH’s position as a strong dialysis player in the KSA healthcare market and reinforce its status as a leading diversified healthcare company. The establishment of the New Co constitutes our entry to be our exclusive vehicle with our partner NephroPlus in the Kingdom of Saudi Arabia for the investment, operations, management and maintenance of dialysis care centers for public and private customers. 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 enables TIBBIYAH to enter attractive healthcare market segments that have strong fundamentals conducive to growth and as one of the main players in the Kingdom’s Healthcare Sector”.

NephroPlus' s CEO, Mr Vikram Vuppala stated: “We are excited to have joined forces with TIBBIYAH, which has a long history and great achievements in KSA Healthcare sector. Our vision from this partnership is to use the unique capabilities of both companies to deliver better dialysis care services to the patients, maintain the highest quality standards and continuously introduce new modalities of dialysis services to the Kingdom’s Healthcare Sector. We hope the joint venture with TIBBIYAH is another big step ahead towards fulfilling the mission of NephroPlus by ensuring the long-term sustainability of high-quality dialysis services in the communities we serve. With our patient centric care model, and our combined experience and infrastructure, we will be able to offer dialysis patients high-quality, efficient, and effective care and enable them to lead a long, happy and productive life.”

The definitive Joint Venture Agreement is subject to some pre-closing conditions, including, without limitation, obtaining the approval of the General Authority for Competition as well as other conditions of a regulatory and commercial nature.