Saudi Arabia to be the launchpad for new global standard of care
Nano Cures International is an Abu Dhabi based global healthcare technology company. Nano has advanced projects through work sessions and strategic alignment with the Kingdom of Saudi Arabia’s healthcare transformation team. The team includes members of the Vision 2030 healthcare sector transformation program and its stakeholders.
Nano has been active in the Kingdom, performing due diligence, and auditing existing healthcare infrastructures. It has been using on-the-ground teams in collaboration with regional technological and financial partners including Opulence Capital Management, Al Quraishi group and the Ha’il Investment Fund (HIF) in Saudi Arabia managed by UAE-based Opulence Capital Management.
Arm Holdings is a Cambridge, UK-based chip design firm, majority-owned by Softbank’s Vision Fund.
Through its partnerships and on-the-ground development, it is pioneering a new healthcare infrastructure that aims to become a new global standard of care.
Logic and AI chip manufacturing
Key projects of the healthcare transformation under evaluation by Nano, include development of a $9bn semi-conductor manufacturing plant that, through HIF’s backing, would manufacture logic and AI chips developed through joint designs with Arm Holdings. (HIF’s royal mandate is to incubate and develop innovative technology, healthcare, and industry from around the globe for the region of Ha’il and Kingdom of Saudi Arabia.)
It is anticipated that the manufacturing component would be located in Ha’il, with an advanced microprocessor design centre in Neom (the futuristic smart city designed for those who want to dream big and build a new model for sustainable living, working, and prospering.)
Neom is a key initiative of His Highness, the Crown Prince Mohammad Bin Salman Al Saud. Al Quraishi Engineering has been selected to conduct studies evaluating locational and engineering feasibility for the facility.
What an incredible year for NEOM. From launching three new regions to announcing exciting new partnerships and subsidiaries, here's a look at what we made happen in 2022. #NEOM pic.twitter.com/7iDa4JXCjC
— NEOM (@NEOM) December 21, 2022
Total population health coverage
Arm Holdings is committed to an initial public offering in 2023.
Additional focus points evaluated for 2023 include the $28.5bn Kingdom-wide healthcare privatisation initiative, the development of a new healthcare framework, and deployment of Nano CureLink platform technology across primary care centres across the Kingdom.
The Nano CureLink platform, developed primarily in the United States by Nano Cures, is a foundational ecosystem that connects, monitors, and delivers healthcare data and medical cures for total population health coverage.
These functions are applied through various technologies that include leading alternative drug-delivery mechanisms, ambient AI-driven data collection (enabled by Arm Holdings technology), and direct-to-patient health diagnostics.
“By supporting Nano and Arm Holdings to bring this transformational technology platform and projects to the Kingdom, we continue our mandate of keeping Saudi Arabia on the forefront of innovation," said Alexander Vanderhey, managing director of HIF.
"Ha’il is the perfect home for implementing the technology and manufacturing that will bring this platform to the entire Kingdom and beyond. Furthermore, this collaboration synthesises with existing key initiatives of our Vision 2030 colleagues, including the Public Investment Fund (PIF) and its portfolio company Arm Holdings.”
Steven G. Papermaster, chairman and chief executive officer of Nano Cures added: “The opportunity to impact healthcare transformation is so powerful that it will not only uplift Ha’il and the Kingdom, but prove to be among the best in class globally.
"Our continued collaboration with our partners is of paramount importance to the actualisation of the Vision 2030 strategy and, like the PIF Future Investment Initiative (FII) Neom and Red Sea Global, that they be generational innovations.”
Nano’s technology pilot programs before and during the Covid pandemic have gone through evaluations in other parts of the GCC, China, and SE Asia for development of a mature platform with potential to transform the world’s fundamental view of healthcare.
“Ha’il’s human capital, culture, and progressive, enlightened embrace of technology allows us the ability to bring revolutionary technology to Ha’il and become a key initiative of the HIF, PIF, the Saudi Industrial Development Fund (SIDF) and our other financial colleagues within the Kingdom,” said HIF chairman, Alexander Vanderhey.
Saudi Arabia’s healthcare transformation team includes members of the ministry of health and its representatives, PIF and affiliates, the ministry of finance, the Ha’il health cluster, the National Health holding company, the national guard, the army of Saudi Arabia, the Saudi Red Crescent Authority, ministry of human resources, ministry of investment, government procurement authority, the Saudi food and drug authority, ministry of industry, and the other members of the Kingdom’s council of economic and development affairs.
The Vision 2030 healthcare sector transformation program is backed by the Vision Fund, a major investment of Saudi Arabia’s sovereign wealth fund, the PIF, an organisation chaired by His Highness, the Crown Prince of the Kingdom of Saudi Arabia, Mohammad Bin Salman Al Saud.
PIF and its affiliates have been mandated to enable creation of new sectors and opportunities that will shape the future global economy.
