Global law firm White & Case LLP has advised international healthcare operator Mediclinic, the parent company of which is listed on the London Stock Exchange, on its strategic expansion into the Kingdom of Saudi Arabia via a joint venture with the Al Murjan Group.
"This strategically significant transaction in the Kingdom of Saudi Arabia is our first mandate for Mediclinic," said White & Case partner Marcus Booth, who co-led the Firm's deal team. "There is a growing demand for high quality, internationally recognized standards of healthcare services in Saudi Arabia."
White & Case partner Doug Peel, who co-led the Firm's team, said: "This transaction is a milestone in our growing relationship with Mediclinic and we look forward to continuing to support the group."
The joint venture will establish an internationally accredited hospital in Jeddah with a capacity of more than 200 beds that offers comprehensive inpatient and outpatient services including general surgery, cardiology, orthopedics, obstetrics and gynecology, pediatrics, emergency and trauma care.
Mediclinic Middle East will manage the hospital and assist Saudi Arabia's Al Murjan Group with expertise and advisory services in planning, design and construction. The hospital is expected to open by the second quarter of 2022.
The joint venture is expected to represent a cornerstone for high quality healthcare services in Saudi Arabia, offering state-of-the-art healthcare facilities and contributing to the Kingdom's Vision 2030. Al Murjan Mediclinic is anticipated to provide more than 1,000 jobs and create new opportunities for entrepreneurs in the healthcare sector.
The White & Case team which advised on the transaction was led by partners Doug Peel (Riyadh) and Marcus Booth (Dubai), and included local partner Louise Vun (Dubai), counsel James Rimmer (Riyadh) and associates Stefan Mrozinski, Mohamed Hasan, Andrea Petersen (all Dubai), Reem Albakr and trainee associate Nawaaf Alawaad (both Riyadh).
For more information, please speak to your local media contact.