- Steward Health Care International announces its first project in the Middle East via Riyadh-based joint venture Steward alf Global Healthcare LLC
- Steward alf Global will partner with PIF-backed developer The Red Sea Development Company in Saudi Arabia to provide healthcare services to what will be the world’s largest regenerative tourism project
Steward Health Care International formalised an operating agreement appointing the firm, via its regional joint venture company, as the exclusive provider of healthcare services for The Red Sea project, an ambitious and transformative Saudi Arabian giga project.
After a highly competitive process, Steward alf Global – a joint venture between Steward International and Saudi-based infrastructure company Alfanar – was selected by The Red Sea project to provide a full range of healthcare services to what will be the world’s largest regenerative tourism project. Steward alf Global offers a full suite of services in Saudi Arabia, from hospital design, construction, engineering, medical facilities management, clinical operations, and population health services.
The Red Sea Development Company is entirely owned by Saudi Arabia’s sovereign wealth fund, the Public Investment Fund (PIF), and is inspired by the Kingdom’s ambitious economic and social transformation programme, Vision 2030. The development of the Red Sea projectwill eventually comprise more than 50 unique luxury resorts, whilst keeping the environment and sustainability at the forefront of the project.
“The Red Sea project cements Steward’s position as an ambitious, forward-facing company and a leader in global health care. Steward’s world-class provision of care will form an integral part of the facilities in this pioneering, luxury development in the Middle East”, says Dr Armin Ernst, President and CEO of Steward Health Care International.
“Steward’s entry to the Middle East market is a key milestone for the company”, says Dr Ralph de la Torre, Executive Chairman of Steward Health Care International. “This agreement builds on Steward’s long track record of success operating state of the art healthcare services, with a clear focus on quality and patient experience and a commitment to sustainability.”
Steward alf Global is responsible for a range of clinical services, from emergency, ambulatory and inpatient care, surgery, and preventive healthcare services serving the Red Sea Development community. It will also design and operate the development’s ambulance and emergency response services and will provide care to the area’s new airport.
“Steward alf Global Healthcare is committed to bringing world-class operations to the Kingdom’s healthcare sector. With this project, we intend to significantly improve the healthcare practices followed in the Kingdom,” Mr Sabah Al Mutlaq, Vice Chairman of Alfanar, said during the signing ceremony.
“Steward’s partnership with Alfanar has been highly collaborative, and will allow us to scale to meet demand in the dynamic Saudi Arabian market,” notes Dr Marc-David Munk, Lead Executive for Steward Middle East. “Steward International anticipates rapid growth throughout the MENA region, driven by our deep experience in both clinical operations and accountable care.”
Steward Health Care International currently manages healthcare facilities on three continents.