Performance Review

Healthcare Sector

Closing the gap between supply and demand for quality and specialized healthcare is an example of SEDCO’s ability to combine societal benefit with business growth. The Group has invested in Nahdi Medical Company in Saudi Arabia, and Egypt’s Dar Al Fouad Hospital.

Nahdi Medical
Company

Nahdi Medical Company (Nahdi) is the leading retail pharmacy chain and fastest-growing omni health platform in Saudi Arabia, with an extensive network of more than 1,150 pharmacies in 144 cities, reaching 97% of the Saudi population and providing access to health and wellbeing products and services.

Yasser Joharji
Chief Executive Officer

“INNOVATION IS PART OF THE NAHDI DNA AND OUR ONGOING INVESTMENT IN DIGITAL INFRASTRUCTURE IS DESIGNED TO ELEVATE THE GUEST EXPERIENCE AND DIFFERENTIATE US FROM OUR PEERS.”

Over the past year, we have continued our expansion into primary healthcare via our omnihealth platform. We launched seven express clinics, conducted 10,000 teleconsultations per month and, in a first for the Makkah region, received accreditation for our polyclinic in Al-Marwa, Jeddah from the Saudi Central Board for Accreditation of Healthcare Institutions (CBAHI).

Nahdi’s guest-centric philosophy underpins our seamless omnichannel guest experience by connecting our brick-and-mortar stores with online platforms such as the Nahdi website and app. In progressing from simple convenience to the experiential, Nahdi’s brick and mortar presence has evolved to include more solutions, including beauty applications, ‘Scan & Go’ services, the Wazen program and drivethrough services.

Innovation is part of the Nahdi DNA and our ongoing investment in digital infrastructure is designed to elevate the guest experience and differentiate us from our peers. During 2021, we continued to invest in IT infrastructure to support and optimize the omnichannel and omnihealth experience. The enhanced digital service offerings include e-consultations and e-prescriptions; customized guest journeys in ‘Nuhdeek’, our loyalty program; a user-friendly app; and website.

Nahdi’s commitment to form strategic partnerships with government entities resulted in an agreement with Modon (Saudi Authority for Industrial Cities and Technology Zones) to launch and develop IMDAD, the region’s first state-of-the-art smart logistics distribution center.

The new center elevates Nahdi’s supply-chain capabilities to deliver guests the right product – wherever they are and whenever they need it – and always to the highest quality.

In 2021, Nahdi also signed agreements to operate pharmacies for two of the Kingdom’s largest hospitals – the Dr. Samir Abbas Hospital in Jeddah and Al Ameen Hospital in Taif.

Nahdi, which is 50% owned by SEDCO Holding, employs more than 6,000 people, of which 2,270 are Saudi. There is also a growing female talent, with a year-on-year increase of 41% in 2021.

Our nurturing of talent, regular learning platforms and vibrant culture demonstrate Nahdi’s passion for people – all of which have seen us rank consistently in the top 20 since 2014 as a ‘Great Place to Work’ in Asia and Saudi Arabia. We also continued to grow our brand equity in 2021 and won multiple retail industry awards, including the World Branding Awards, for the third year in a row.

Beyond the workplace, Nahdi is also committed to improving the wellbeing of the Saudi community. Through our CSR programs that target distinct guest segments, we provide tailored services and solutions that improve their health and wellness. Our aim is to impact over 36 million guests through our CSR programs by 2030.

To support this initiative, we signed a Memorandum of Understanding (MOU) with Ehsan, Saudi Arabia’s largest donation platform, and Sport for All (Ministry of Sports and Quality of Life initiative) collectively to have a positive impact on guests’ health and wellbeing.

Dar Al Fouad
Hospital

Dar Al Fouad Hospital is a tertiary healthcare institution that specializes in cardiology, cardio-thoracic surgery and organ transplants. It was the first healthcare provider in Egypt to be accredited by the Joint Commission International, considered the global ‘gold standard’ of healthcare quality.

Dr. Mohamed Mamoun Al Najjar
Chief Executive Officer

“HIGHLIGHTS INCLUDED CELEBRATING THE 20TH ANNIVERSARY OF EGYPT’S FIRST LIVER TRANSPLANTATION PROCEDURE THAT WAS PERFORMED IN DAR AL FOUAD.”

Dar Al Fouad’s headquarters are in Cairo, where it operates two hospitals with a combined capacity of 372 beds, 17 special units, six operational suites, and two pathology labs. There is also an outpatient clinic in Kuwait. SEDCO Holding has a 25.8 percent stake in the hospital, making it the second largest shareholder.

Egypt was one of the few emerging markets to experience growth in 2021 and it was against this backdrop that we were able to introduce several new services, including Coronary Total Occlusion PCI and Transaortic Valve Replacement (TAVR). We also opened a Minimally Invasive Cardiac Procedures Unit and Breast Cancer Center.

Other highlights included celebrating the 20th anniversary of Egypt’s first liver transplantation procedure that was performed in Dar Al Fouad, launching the Oncology Center, and rolling out day care services in both our 6th of October and Nasr City hospital facilities.

Although retaining resources – particularly caregivers – proved challenging, we achieved budget targets and maintained the dividend payment to shareholders. We were also active in the community, marking international health days, including World Cancer Day, World Diabetes Day and World Breast Cancer month, with free check-ups and information handouts to build awareness.

We were awarded accreditations in endoscopy, pain management and myocardial infarction by the Surgical Review Corporation (SRC), a non-profit, patient safety organization which accredits the top facilities, surgeons and medical professionals worldwide that meet proven standards of safety and medical excellence.

Dar Al Fouad became the first hospital in Egypt to receive a certification from the Joint Commission International (JCI) for its acute myocardial infarction program. This distinction guarantees that Dar Al Fouad targets a 90-minute or less door-to-balloon time.

Looking ahead, we will focus on developing our business plan and continue to distribute dividends to our shareholders.

We have ambitious plans to expand Nasr City’s spectrum. We will also enhance our brand equity by promoting centers of excellence and introducing new services, our objective being to place both facilities at the very center of quality healthcare provision in Egypt.