A joint venture framework agreement was signed by Burjeel Holdings PLC, an ADX-listed super-specialty healthcare services provider, and Keralty S.A.S, a worldwide health organization with headquarters in Colombia, to establish a joint venture called Al Kalma.
The contract was signed in Colombia's Cartagena de Indias. Through facilitating access to reasonably priced, high-quality healthcare, the partnership hopes to improve well-being along the entire value chain.
Al Kalma, which means "united for health and well-being," aims to serve almost 30 million patients over the course of the next ten years by combining a novel value-based healthcare model with specialized primary care centers, health risk management, and a new suite of integrated mental health services.
Operating through a recently formed holding company registered under the Abu Dhabi Global Market jurisdiction, the joint venture partnership will be run. Each of Burjeel Holdings and Keralty will own 50% of the shares equally.
The strategic alliance pools the expertise and experience of both parties to enable a speedy launch in the Middle East, with plans to expand into North Africa later on. The joint venture will make its debut in Saudi Arabia by taking advantage of the country's healthcare market's transition to a primary healthcare model. By analyzing each market and implementing the plan country-by-country, the partnership seeks to provide services outside of the region.
With operations in nine countries, including the US and Colombia, and a nearly five-decade track record, Keralty enters this joint venture capitalizing on the success of its healthcare model, which is centered on the control and treatment of diseases and dependency as well as the prevention, detection, and management of health risks. With a significant presence in the Middle East, Burjeel Holdings focuses on providing extremely complicated and specialized services and provides the best levels of care through an integrated network of pharmacies, hospitals, and medical facilities.
Mohammed Abdullah bin Khater Al Shamsi, the UAE ambassador to Colombia, Dr. Shamsheer Vayalil, the founder and chairman of Burjeel Holdings, John Sunil, the CEO of Burjeel Holdings, Joseba Grajales, the president of Keralty, and Emilio Herrera, the CHO of Keralty were present at the partnership announcement ceremony.
"We are thrilled to collaborate with Burjeel Holdings to expand our unique healthcare model to new areas," Grajales stated. Our combined expertise have allowed us to successfully scale this concept from Colombia to many other nations, and it is always being improved. We offer insightful feedback for every action we take, producing exceptional outcomes that improve the health and wellbeing of millions of people who put their trust in us. Our comprehensive comprehension of their social, health, and community requirements is the reason for their success.
"This partnership represents a significant milestone for us as we strive to provide better health for a diverse range of populations," said Vayalil in a statement. Our innovative concept aims to improve services and patient outcomes locally and individually by promoting holistic well-being, which includes disease prevention, control, and care. This strategy will save hospitalizations and promote better health, which will significantly change the way healthcare is provided.