|
Gulf Capital, one of the largest private equity firms investing from the GCC to the rest of Asia, announced that global healthcare technology company CorroHealth has made a strategic investment into one of its portfolio companies, Santechture, a Dubai based pioneering revenue cycle management (RCM) intelligent technology solutions provider.
The deal brings together the industry-leading AI capabilities of CorroHealth with the advanced RCM solutions of Santechture, equipping Santechture healthcare clients across the Gulf Cooperation Council (GCC) region with powerful new technology to maximize ROI.
The investment formalizes what has been a productive working relationship between the two companies. Over the past two years, CorroHealth and Santechture have successfully completed multiple proofs of concept for Santcehture clients. In January, Santechture and CorroHealth jointly hosted the Arab Health reception focused on AI and Revenue Cycle Management (RCM) Innovation.
Santechture, which is backed by leading institutional investors Gulf Capital and Shorooq Partners, has seen a phenomenal increase in demand for its advanced deep tech RCM solutions in the GGC and across regional markets, and this partnership will support yet another leap ahead in advancing innovation and value creation.
Pat Leonard, CEO, CorroHealth said, “This is an exciting step forward for CorroHealth, as we combine our technological capabilities with a local company based in the GCC region. CorroHealth joining forces with SANTECHTURE brings the best of both worlds to provide clients in the region with unsurpassed RCM capabilities to protect hospitals’ bottom lines and help to ensure their financial future.”
Anas Batikhi, Founder and CEO, Santechture said, “We are especially thrilled to be cementing further our working relationship with CorroHealth and leading the intelligent automation drive to support our clients and partners with their RCM digital transformation journey, delivering on cost reduction and improved revenue outcomes.”
Mohammad Madani, Managing Director, Gulf Capital said, “This strategic investment is a strong validation of Santechture’s leadership in intelligent RCM solutions across the GCC and marks a pivotal milestone in its growth journey. We are confident this collaboration will unlock significant value for healthcare providers in the region.”
Bilal Mushtaq, MD, CorroHealth’s executive vice president of global growth and strategy for GCC market expansion said “This strategic investment and partnership marks a pivotal step forward in our growth strategy, reinforcing our commitment to innovation and delivering greater value to a new market. This is not just a collaboration but a shared vision to forge a new path towards providing excellence in revenue cycle management.”
|