Moroccan hospital operator Akdital signed an agreement in Saudi Arabia to set up two hospitals in Jeddah and Riyadh for a total cost of 200 million dollars.
The investment, signed under the aegis of the Saudi Investment ministry, is the first expansion abroad by Akdital, which has 36 clinics in Morocco.
Akdital signed the deal with Wataniyah Business Real Estate and Nemaya, an offshoot of Al Fozan Holding.
Officials from the Saudi investment promotion ministry also signed the deal, which fits into Saudi Arabia’s 2030 health vision.
Akdital controls 20% of Morocco’s healthcare offer and has clinics across Morocco.
It became a listed company on the Casablanca stock exchange in 2022 with a revenue of 2 billion dollars in 2023.