Johnson & Johnson Medical Devices Companies launches joint venture in KSA
Johnson & Johnson Medical Devices Companies ( JJMD) has announced the launch of Johnson & Johnson Medical Saudi Arabia Limited. It is a Saudiregistered legal entity resulting from a joint venture between Johnson & Johnson Middle East FZ-LLC, Abdulrehman Algosaibi and Farouk Maamoun Tamer & Co.
The launch of the Riyadhheadquartered company marks an important expansion for JJMD in the Middle East, reinforcing a strong commitment to building health care solutions in the Kingdom, sharing global expertise and innovation through professional education and developing Saudi national talent.
“Saudi Arabia is an important market and we are excited about the government’s plan to advance health care under the Saudi Vision 2030 that aims to improve quality of life and health care services. We have a deep commitment to supporting this vision by helping health care systems navigate the impact of the changing landscape, ultimately improving outcomes, increasing patient satisfaction and reducing costs in value based care,” said Michelle Brennan, company group chairman JJMD EMEA.
“The flexible new regulations introduced by the Saudi Arabian General Investment Authority (SAGIA) have encouraged us to set up our legal presence in the Kingdom under a joint venture with our longstanding distributor partners who have strong knowledge and expertise in the Saudi market.”
The announcement was made at a press conference on Nov. 8 in Riyadh, held under the auspices of SAGIA.
Johnson & Johnson Medical Saudi Arabia Limited, which also has a branch in Jeddah, began operations in October and has started receiving orders to serve clients in the Kingdom. It launched under the leadership of General Manager Abdulaziz Al-AlSheikh with around 190 employees, including a female sales team. The new company comes to market with a Saudization rate of 25 percent and said it is committed to attracting, hiring, training and developing Saudi talent.
“We are very pleased to be strengthening our strategic partnership through this joint venture. We believe that Johnson & Johnson Medical Saudi Arabia Limited will have a positive long-term impact on health care in Saudi Arabia while also growing and enhancing the Saudi Arabian workforce,” said Magdy Saidum, director technical affairs at Abdulrehman Algosaibi, and Mohammed Tamer, group CEO and managing partner of Tamer Group.