NMC Saudi Arabia ‘independent’ from NMC Health, says Hassana Investment

The recent events related to NMC Health, which is listed on the London Stock Exchange, do not affect the company's investment in Saudi Arabia, represented in its stake in Riyadh-based NMC Saudi Arabia, said Saad Alfadly, chief executive officer of Hassana Investment, the investment arm of the General Organization for Social Insurance (GOSI).

NMC Saudi Arabia has independent board of directors and executive management. In addition, all of its assets are in the Kingdom, he added in a statement to Argaam.

Hassana CEO further explained that all announcements related to violations and investigations are strictly related to NMC Health, noting that NMC Saudi Arabia performs its business normally, being an independent financial and administrative company.

The Saudi company operates at full capacity across the Kingdom under the supervision of the Ministry of Health, he also said, adding that both parties are closely coordinating regarding efforts to combat the coronavirus pandemic.

“Investing in the healthcare sector falls in line with GOSI’s plans and investment programs in local markets, which are based on partnerships with different parties specialized in various fields”, he also noted

Despite global challenges, GOSI is optimistic about investments in various Saudi sectors, and aiming to expand its investments in the healthcare sector in particular, given the government’s support to the private sector, as well as the priority given to safeguard citizens and residents.