Estithmar Holding signs an agreement to manage and operate 492-bed hospital in Iraq

Elegancia Healthcare W.L.L, a subsidiary of Estithmar Holding has entered into a strategic agreement with the Ministry of Health to manage and operate the 492-bed Al Nasiriya Teaching Hospital in Dhi Qaar Governorate, Republic of Iraq (the operation and management of the hospital will start in two months). The agreement was signed by Dr. Rashid Najm Al-Khalidi, Director General of Dhi Qar Health Department, and Mr. Mohammed Al-Dawamna, in his capacity as a Board Member of Estithmar Holding, and in the presence of His Excellency the Minister of Health, Dr. Saleh Mahdi Al-Hasnawi, and HE Sultan bin Mubarak Al Kubaisi as Ambassador Extraordinary and Plenipotentiary of the State of Qatar to Iraq, in addition to Mr. Joseph Hazel, Chief Executive Officer of Elegancia Healthcare.

The agreement aims to elevate the current healthcare standards at Al Nasiriya Teaching
Hospital, in addition to enhancing operational efficiency, improving service levels, and expanding its medical specialties. It also seeks to achieve these goals by adopting the latest administrative and operational methodologies, leveraging Elegancia Healthcare's extensive expertise and excellence in managing and operating healthcare facilities.

The scope of the agreement includes providing tailored medical services to meet the needs of residents in the governorate and neighboring areas. It involves providing Al Nasiriya Teaching Hospital with a diverse team of international and local medical experts. The scope of work covers comprehensive healthcare services, including medical procedures and the operational and maintenance aspects of the hospital, as well as managing human resources, supply chain and offering technical support.

Eng. Mohamed Bin Badr Al-Sadah, CEO of Estithmar Holding, commented on this collaboration, saying: "This strategic move further enriches and adds to the number of projects and healthcare initiatives spearheaded by Estithmar Holding in Iraq. Through this agreement Elegancia Healthcare will undertake the management and operation of Al Nasiriya Teaching Hospital in the upcoming two months to ensure the delivery of top-tier healthcare services."

Al-Sadah further added: “This agreement underscores our dedication to our business strategy which seeks to expand our presence in the healthcare sector. Our goal is to work
towards enhancing and expanding our business portfolio to foster growth opportunities and add value for our shareholders, especially that this agreement will commence in the next two months.”

Elegancia Healthcare, a subsidiary of Estithmar Holding, boasts an extensive track record in successfully operating and managing several hospitals. Among its notable ventures, Elegancia co-owns and operates The View Hospital in collaboration with Cedars- Sinai, and the Korean Medical Center in Darb Lusail, Qatar, in partnership with prominent Korean medical institutions, including Asan Medical Center, AHNKANG, EHL Bio, Lime Tree Dental Hospital and JK Medical Group.

Moreover, the company has broadened its global presence commencing the establishment of the Algerian-Qatari-German Hospital in partnership with the Algerian Ministry of Health.
Additionally, Elegancia Healthcare has signed a memorandum of understanding with the Ministry of Health in the Republic of Uzbekistan to establish a multi-specialty healthcare facility and undertake other healthcare initiatives across various countries.

It is worth mentioning that all the operation and management agreements signed by Estithmar Holding abroad benefit the local economy by promoting the import of hard currency and exporting local expertise abroad.