News Article

Healthcare, medtech and pharmaceuticals in Saudi Arabia continue to see large-scale investment, driving innovation and development. Candesic Managing Partner Dr Leonid Shapiro provided his expertise in healthcare investment on two sessions at the Global Health Exhibition – ملتقى الصحة العالمي in Riyadh in October.

Leonid was the session moderator for the exciting and informative panel on How to Successfully Launch and Attract Investment into Healthcare Start-ups in KSA, alongside Dr. Meshari F. Alwashmi, CEO of Amplifai Health, Dr Fahad Attar, CEO of We Healthify, and Eng Basim Albeladi, MBA, CEO of لبيه | Labayh Healthcare Company.

There was reason for much excitement as, according to the Vision for 2030 shared at the exhibition, Saudi Arabia is set to become a global health hub, and it proved that by announcing over SAR 50 billion ($13.3bn) in health investments in one day! Startups and innovation will be an integral part of achieving this ambitious vision.

Later that day, Leonid also spoke on another panel about the growing opportunities in medtech and pharma in Saudi Arabia. The panel couldn’t have been better timed as included in the investments announced was a pharma partnership between National Unified Procurement Company “NUPCO”, Novo Nordisk and Sanofi worth SAR 4 billion.

Though it isn’t all about the price tag but the ability to build and implement successful healthcare systems that provide good outcomes for patients and stakeholders, KSA is on its way. If strong investment in the sector continues, healthcare tourists could be there by 2030, too.

Leonid emphasised how great it was to be at the Global Health Exhibition – ملتقى الصحة العالمي in Riyadh. With the country’s healthcare system’s recent move into a payor/provider structure, all the public hospitals and clinics in the country are now run by Health Co. They are doing so much so quickly! Great to be a part of it!