Al Qudra Holding and GE Sign Collaboration Agreement to Develop Healthcare Projects in the Middle East

Al Qudra Holding, one of the leading investment companies in the Emirate of Abu Dhabi, and GE Healthcare (NYSE: GE), a global leader in advanced medical technologies, services and solutions, today signed a collaboration agreement for the development of healthcare projects in Abu Dhabi and the broader Middle East region. The agreement was signed last week at Arab Health, the largest medical trade show and exhibition in the Middle East, where GE showcased twenty-one new product innovations in 2015, aimed at advancing healthcare across the Arab world.

The partnership agreement was signed by Al Qudra CEO, Mr. Michel Y. Nassour in the presence of H.E. Khalifa Khouri, a member of the Executive Committee and Board of Al Qudra Holding, and GE Healthcare President & CEO for Turkey and the Middle East, Mr Maher Abouzeid, in the presence of global GE Healthcare SVP and President & CEO, Mr. John Flannery and Mr Skander Malcolm, President & CEO for GE Healthcares Eastern & Africa Growth Markets region.

The collaboration agreement covers the planning, development, delivery and sustainability of key projects to which each partner will bring their respective expertise in financing, technology design and integration, asset management, training and continuous improvement initiatives including clinical leadership and management program. GE will serve as the key technology and solutions provider to Al Qudra. Projects are subject to separate agreements that will be announced by the partners in due course.

Commenting on the agreement, Al Qudra Board Member, H.E Khalifa Khouri said, In line with Al Qudras commitment to driving sustainable growth of the healthcare sector, collaboration with reputed global players that can bring world-class know-how, scale and capabilities to the region is key. Complementing government efforts across the UAE and wider GCC for essential healthcare services to meet the growing population demands, we are proud to partner with GE Healthcare in the co-development of projects that will further expand access to quality and affordable healthcare in the UAE and across the Middle East.

Supporting public and private healthcare providers in strengthening healthcare services is central to GE Healthcares strategy of localization. To that end, GE Healthcare is pleased to have reached this critical partnership milestone with Al Qudra Holding and in the coming months we will work closely with our partner to further define the scope of these projects, said Maher Abouzeid, President & CEO of GE Healthcare Turkey and Middle East. He added: Building on a heritage of over forty years, GE Healthcare remains firmly focused on building a strong local workforce, sustainable local partnerships and bringing the best of its technologies, capabilities and solutions to advance healthcare, together with our customers and partners in the Middle East.

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