Dive Brief:
- Johns Hopkins Medicine has agreed to launch a joint venture with Saudi Aramco, an oil and natural gas company owned by the Saudi Arabian government.
- Under the agreement, JHM will offer healthcare to Saudi Aramco's employees and their families, beginning operations in February.
- According to a news release, Saudi Aramco has established a comprehensive healthcare system for its employees and their beneficiaries.
Dive Insight:
This is a very interesting deal, as it brings Johns Hopkins into a region which isn't rife with American healthcare businesses. (China seems to be the big target for many American healthcare companies seeking overseas dollars.) One can only wonder whether JHM will use the Saudi deal as a platform for jumping into healthcare ventures across the Middle East.