The newly formed Sanabil Venture Studio will empower entrepreneurs to create and expand transformative healthcare enterprises. Credit: Meeko Media/Shutterstock.

Sanabil Investments, owned by the Public Investment Fund (PIF), has partnered with Redesign Health to launch a minimum of 20 healthcare companies in Saudi Arabia.

This aligns with the nation’s Saudi Vision 2030 to diversify its economy.

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The newly formed Sanabil Venture Studio by Redesign Health is set to empower entrepreneurs to create and expand transformative healthcare enterprises within Saudi Arabia.

The partnership marks Redesign Health’s first foray into a global market, combining its venture-building model with Sanabil’s regional expertise to meet the healthcare needs of individuals in the country.

Redesign Health CEO Brett Shaheen said: “We’re excited to partner with Sanabil, whose deep market expertise makes them the ideal partner to help us accelerate the Kingdom’s healthcare transformation.

“By combining Redesign Health’s venture-building expertise with the Kingdom’s ambitious focus on healthcare transformation, we have an opportunity to create a new standard for global healthcare innovation while improving health outcomes across the region.”

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Redesign Health brings experience from assisting founders in launching more than 60 companies in the past six years.

This equips the company with an understanding of the challenges associated with innovation in the healthcare industry, as well as the complexities involved in business development.

Redesign Health managing director Adam Jones said: “Saudi Arabia’s rapidly evolving healthcare and business landscape presents an extraordinary opportunity to build world-class healthcare companies.

“We look forward to working with Sanabil and dynamic Saudi healthcare partners to empower founders to transform healthcare in service of patients.”