Injazat Capital announces agreement between shareholder unit Dawee Medical Company and Victorian Healthcare Association

The agreement being signed today at the Emirates Towers in Dubai in the presence of the Honourable Bronwyn Pike, Minister of Health and Member of the Parliament from the Australian State of Victoria, Mr. Don Kay, Health Sector Advisor from VHA, Mr. Hussein Rifai, Managing Director, Injazat Capital and Dr. Mohammad Bahabri, Chief Executive Officer of Dawee Medical Company.

Hussein Rifai, Managing Director, Injazat Capital said:

"This important tie-up between Dawee Medical Company and VHA will facilitate building of a pioneering healthcare network, offering world-class facilities at affordable prices across the region. The participation of an internationally renowned healthcare entity such as VHA confirms the growing interest from major investors in the MENA region's emerging healthcare sector."

"The venture will enable Dawee Medical Company to achieve its goal of introducing innovative services and improving the quality of the regional healthcare sector by using VHA's services in health planning and consultancy, commissioning management, medical equipping and operational management," Rifai added.

"This tie-up will also help Injazat Capital to effectively and efficiently integrate and manage the portfolio of healthcare facilities under the recently launched Shefa Healthcare Fund," Rifai said. Injazat Capital is a major shareholder in Dawee Medical Company, which in turn has signed an agreement with Al Shefa Fund to set up the new management firm.

Under the agreement, Dawee Medical Company will offer quality healthcare facilities at reduced rates by sharing services and qualified human resources. The deal will also facilitate standardisation of medical services by maximising process integration, which ensures that different locals provide the same user experience, and by practising evidence based medicine.

Customers will benefit, as regardless of location, patient medical records will be always available through electronic filing, will be accessible through the Internet and service costs will be reduced by eliminating test redundancy. The agreement will also allow strong positioning with insurance providers and promote medical technology-oriented or enabled centres by continually adding cutting edge high profile medical technologies to the network.

The modular practices followed by the network will allow centres to join efforts, build a large knowledge base and intellectual property, thus attracting international investment and building a strong team capable of competing in the international healthcare market. Through the agreement, countries in the MENA region will be able to benefit from VHA's international medical expertise, best practices, breakthrough technologies and innovative processes that will allow citizens and residents to enjoy world class, efficient and affordable healthcare services.

Local health authorities will also be able to access reputed institutions ranging from tertiary level teaching hospitals, regional and rural based hospitals and aged care and community health services and health related education, training and research institutions, that form part of the VHA network.

VHA, which has undertaken several assignments in various countries in the region, will share its technical knowledge base with Dawee Medical Company, combining extensive complementary research and development efforts with efficient commercialisation of managerial and technical processes to build on lessons learned in the region and elsewhere and thus contribute to the development of regional human capital.