Visiomed will hold 59% of the joint venture in Saudi Arabia

(Boursier.com) — Visiomed Group formed a joint venture that will bring together the group’s Saudi activities as well as a series of strategic advances:

-Final incorporation of the Joint-Venture which bears the trade name “Smart Health”;
-Arrival of Tarek Shaker as Managing Director of the company;
-Site selection process for the first Smart Health center in Riyadh;
-Continuation of discussions with the government of Saudi Arabia on a structuring joint development plan.

“These initiatives mark an important step in the growth dynamic of Visiomed Group in the region and underline the desire to structure a coherent and ambitious local project”, comments the company.

Visiomed Group will hold 59% of the joint venture, Abrar Communication Company 36%, The Sibling Prestige Group (subsidiary of the Al-Ghazzawi conglomerate): 5%.