Tibbiyah inks JV deal with BGI Almanahil to set up lab testing, bioinformation services firm

Logo of Arabian International Healthcare Holding Co. (Tibbiyah)

Arabian International Healthcare Holding Co. (Tibbiyah) announced today, July 27, entering into a definitive joint venture (JV) agreement with BGI Almanahil Health for Medical Services for establishing and operating a 50-50 owned limited-liability company, Saudi Advanced Medical Lab (SAML).

The new JV will provide clinical laboratory testing and bioinformation services to hospitals, research institutes, medical centers and clinics operating in both the public and private sectors, the Nomu-listed firm said in a bourse statement.

The agreement is subject to some pre-closing conditions, including, but not limited to, obtaining approval of the General Authority for Competition (GAC) as well as other conditions of a regulatory and commercial nature, the statement added.

BGI Almanahil is a subsidiary of BGI Health, which is headquartered in China’s Shenzhen, serving customers in more than 100 countries.

It has over 20 years of experience in helping customers achieve their research goals by delivering rapid, high-quality results using a broad array of cost-effective, cutting-edge technologies, including the innovative DNBSEQ sequencing technology, according to the statement.

In June 2000, as a representative to China, BGI has sequenced 1% of the original Human Genome Project. Globally, BGI accelerates scientific and technological innovation, and is committed to making contributions to public health. BGI's COVID-19 detection products have so far been utilized in over 180 countries, with more than 90 "Huo-Yan" laboratories launched overseas for distribution across at least 30 countries worldwide.