Sanabil, Redesign Health Partner to Boost Saudi Healthcare
The initiative aligns with Saudi Vision 2030, the kingdom's plan to diversify its economy and encourage progress across various sectors.
Sanabil Investments, a wholly owned entity of Saudi Arabia's Public Investment Fund (PIF), has partnered with the US-based Redesign Health, a healthcare venture builder, to establish the Sanabil Venture Studio in the Kingdom.
The collaboration aims to support the creation and growth of healthcare firms in Saudi Arabia by providing resources for ideation, commercial development, and execution.
The initiative aligns with Saudi Arabia's Vision 2030, the Kingdom's plan to diversify its economy and encourage progress across various sectors. The studio will combine Redesign Health’s venture-building model with Sanabil’s network to address healthcare needs in Saudi Arabia.
The partnership marks Redesign Health’s first international expansion. Since its establishment in 2018, the company has supported the creation of over 60 healthcare companies and served more than 15 million patients.
Founded in 2008, Sanabil Investments, which commits over US$3 billion annually to private investments, offers patient capital and regional access to support the growth of new ventures.
"We are excited to partner with Redesign Health as we embark on a journey to reshape healthcare innovation in Saudi Arabia," a spokesperson at Sanabil Investments said, in a statement. "Our mission is to positively impact the lives of patients while creating thousands of new jobs and entrepreneurial opportunities. This partnership will help establish the Kingdom as a world-leading hub of healthcare innovation, with the potential to benefit patients both locally and globally."
"Venture building represents the future of innovation, especially in complex sectors like healthcare," added a spokesperson at Sanabil Investments. "We believe Redesign Health is one of the global leaders in healthcare venture building, and by collaborating with them, we are adopting a model that will accelerate our healthcare innovation economy and improve outcomes for all stakeholders. Our venture studio will create promising new companies, demonstrating a scalable approach to innovation that drives sustainable growth and positions the Kingdom as a key player in the international healthcare landscape."
“We're excited to partner with Sanabil, whose deep market expertise makes them the ideal partner to help us accelerate the Kingdom's healthcare transformation,” Brett Shaheen, CEO of Redesign Health, commented. "By combining Redesign Health's venture-building expertise with the kingdom's ambitious focus on healthcare transformation, we have an opportunity to create a new standard for global healthcare innovation while improving health outcomes across the region."
"Saudi Arabia's rapidly evolving healthcare and business landscape presents an extraordinary opportunity to build world-class healthcare companies,” added Adam Jones, managing director at Redesign Health. “We look forward to working with Sanabil and dynamic Saudi healthcare partners to empower founders to transform healthcare in service of patients.”
