403
Sorry!!
Error! We're sorry, but the page you were looking for doesn't exist.
Expanding Cancer Care: Oncoclínicas Forms A New Venture In Saudi Arabia
(MENAFN- The Rio Times) Brazil's Oncoclínicas (ONCO3) has launched a joint venture to establish oncology operations in Saudi Arabia.
This strategic move marks their first international expansion. They are partnering with the Advanced Drug Company for Pharmaceuticals, a part of the Al Faisaliah Group.
Oncoclínicas will control a 51% majority stake, while the Saudi partner will hold the remaining 49%.
This collaboration aims to combine Oncoclínicas' expertise with Al Faisaliah's extensive network. Such synergy spans various sectors, including health and pharmaceuticals.
Initially, the venture will focus on setting up an ambulatory unit in Riyadh. It will specialize in chemotherapy, radiotherapy, and diagnostic medicine.
They plan to invest between $10 million and $20 million in the next three years. Consequently, this will enhance service capacity and healthcare quality in the region.
Financial projections remain optimistic. By the fifth year, expected revenue should reach around $550 million, with an EBITDA of approximately $150 million.
These figures include plans for expansion and self-financed growth through additional units.
This venture follows a significant private capital increase by Oncoclínicas. Earlier this year, they raised R$1.5 billion ($263 million, using a 5.70 exchange rate).
Expanding Cancer Care: Oncoclínicas Forms a New Venture in Saudi Arabia
The funding round was led by founder and CEO Bruno Ferrari and Banco Master. Despite a steep drop of over 50% in its B3 stock value this year, Oncoclínicas is pushing forward with international growth.
By entering the Saudi market, Oncoclínicas is not only expanding its reach but also partnering with a robust local entity.
Al Faisaliah Group is recognized for its diversified business interests. This strategic move is poised to strengthen Oncoclínicas' presence in the Middle Eastern healthcare market.
It highlights a strategic alignment with global healthcare needs, emphasizing the importance of accessible and advanced cancer treatment solutions.
This strategic move marks their first international expansion. They are partnering with the Advanced Drug Company for Pharmaceuticals, a part of the Al Faisaliah Group.
Oncoclínicas will control a 51% majority stake, while the Saudi partner will hold the remaining 49%.
This collaboration aims to combine Oncoclínicas' expertise with Al Faisaliah's extensive network. Such synergy spans various sectors, including health and pharmaceuticals.
Initially, the venture will focus on setting up an ambulatory unit in Riyadh. It will specialize in chemotherapy, radiotherapy, and diagnostic medicine.
They plan to invest between $10 million and $20 million in the next three years. Consequently, this will enhance service capacity and healthcare quality in the region.
Financial projections remain optimistic. By the fifth year, expected revenue should reach around $550 million, with an EBITDA of approximately $150 million.
These figures include plans for expansion and self-financed growth through additional units.
This venture follows a significant private capital increase by Oncoclínicas. Earlier this year, they raised R$1.5 billion ($263 million, using a 5.70 exchange rate).
Expanding Cancer Care: Oncoclínicas Forms a New Venture in Saudi Arabia
The funding round was led by founder and CEO Bruno Ferrari and Banco Master. Despite a steep drop of over 50% in its B3 stock value this year, Oncoclínicas is pushing forward with international growth.
By entering the Saudi market, Oncoclínicas is not only expanding its reach but also partnering with a robust local entity.
Al Faisaliah Group is recognized for its diversified business interests. This strategic move is poised to strengthen Oncoclínicas' presence in the Middle Eastern healthcare market.
It highlights a strategic alignment with global healthcare needs, emphasizing the importance of accessible and advanced cancer treatment solutions.
Legal Disclaimer:
MENAFN provides the
information “as is” without warranty of any kind. We do not accept
any responsibility or liability for the accuracy, content, images,
videos, licenses, completeness, legality, or reliability of the information
contained in this article. If you have any complaints or copyright
issues related to this article, kindly contact the provider above.
Most popular stories
Market Research
More Story
Comments
No comment