Eleganica Healthcare opens its new branch in Iraq, eyes international growth

IRAQ – Elegancia Healthcare, a subsidiary of Estithmar Holding, has opened a new branch in Iraq as its parent company eyes international growth in the coming months.

The strategic decision is a reflection of the Qatari public shareholding company’s commitment to providing world-class healthcare facilities and services that can positively impact communities around the world.

Commenting on the establishment of the branch in Iraq, Joseph Hazel, Chief Executive Officer of Elegancia Healthcare, said: “Elegancia Healthcare was founded with a mandate to manage and operate state-of-the-art healthcare facilities to the highest world-class standards.”

By launching the new branch in Iraq, Estithmar Holding’s subsidiary Elegancia Healthcare will offer healthcare management services for various hospitals across the country.

It builds on Estithmar Holding’s long-term commitment to increasing shareholder value as a deliberate corporate objective.

Expressing his excitement, Joseph Hazel stated: “We are prepared to explore innovative ways to collaborate on launching projects that will contribute to the development of the healthcare sector in Iraq.”

This milestone paves the way for implementing development projects that are in line with Estithmar Holding’s international business expansion plan.

The grand opening of the Iraq branch comes shortly after Estithmar Holding signed a memorandum of understanding with Iraq’s National Investment Commission (NIC).

Estithmar Holding signed agreements with Iraq’s NIC worth up to US$7 billion, with a focus on real estate and tourism development, and the operation and management of hospitals.

This memorandum of understanding establishes a framework for cooperation between Estithmar Holding and the Iraqi National Investment Commission in the delivery of healthcare services.

Through its subsidiary Elegancia Healthcare, Estithmar Holding will work closely with the Iraqi National Investment Commission to manage and operate several hospitals in the country.

Estithmar Holding is expected to speed up its entry into Iraq’s health system through its subsidiary Elegancia Healthcare.

On his part, Moutaz Al-Khayyat, Chairman of Estithmar Holding reflected: “This step further emphasizes the strong and strategic relation between the two countries on both economic and social levels. More importantly, Iraq has become a promising destination for different types of investments and across various sectors.”

Elegancia Healthcare manages View Hospital in affiliation with Cedars-Sinai, which is a modern healthcare institution that focuses on world-class clinical excellence.

According to Elegancia Healthcare, plans are underway to construct the Korean Medical Center in cooperation with world-class Korean medical organizations.

What’s more, Eleganica Healthcare has tied up with international healthcare institutions in Algeria and Kazakhstan.

Estithmar Holding and Kazakhstan Investment Development Fund (KIDF) Management Company agreed to collaborate on establishing hospitality, healthcare, and public-private partnership projects across the country.

By virtue of this, Estithmar Holding will liaise with Kazakhstan Investment Fund to establish a medical facility through its subsidiary Elegancia Healthcare in the city of Astana.

Leveraging its extensive experience in developing and operating healthcare facilities, Elegancia Healthcare’s new branch will expedite Estithmar Holding’s international business expansion plan.

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