The Ministry of Health license marks a major milestone in the privatization process of SMS whereby SMS has completed its corporatization and is ready to join hands with a strategic partner through a sale of majority stake in SMS.

Dr. Mohammad Bafaqeeh, Managing Director of Saudia Medical Services, commented: “This is an important step towards our goal of transforming SMS into a privately-managed world-class healthcare services provider. The privatization of SMS is a key component of Saudia’s strategic plan SV2020 through which Saudia is contributing to Vision 2030, which calls for increasing the role of the private sector in providing services currently provided by the government.”

Prior to obtaining the Ministry of Health license, SMS appointed Jadwa Investment as the financial advisor to lead the privatization execution plan including the development of a public private partnership framework.

Saudia Medical Services was established in 1979. SMS is the main healthcare provider to Saudi Arabian Airlines and its affiliates’ employees, retirees and their eligible family members. SMS is a full scale primary healthcare facility, providing a wide array of outpatient services to the Group’s Jeddah-based beneficiaries. In addition, SMS is a center of excellence for Aviation and Occupational Medicine, providing specialized services and regulatory examinations to the Group, and recently, other airline operators in Saudi Arabia. SMS, through its 7,800 m2 facility located in Saudia City, in the heart of Jeddah, with 60 clinics, over 100 physicians and 150 nurses, serves over 450,000 outpatient visits on an annual basis. The Ministry of Health license will allow SMS to operate as a private and independent healthcare facility to serve, not only Saudia’s beneficiaries, but also Jeddah residents and visitors.