Nano has advanced projects through work sessions and strategic alignment with the Kingdom of Saudi Arabia’s healthcare transformation team (including the Vision 2030 Healthcare Sector Transformation Program and its stakeholders, the Ministry of Health and its representatives, the Public Investment Fund and affiliates the Ministry of Finance, the Ha’il Health Cluster, the National Health Holding Company, the National Guard, the Army of Saudi Arabia, the Saudi Red Crescent Authority, Ministry of Human Resources, Ministry of Investment, Government Procurement Authority, the Saudi Food, and Drug Authority, Ministry of Industry, and the other members of the Kingdom’s Council of Economic and Development Affairs).
Nano has been active in the Kingdom, performing due diligence and auditing existing healthcare infrastructures and utilizing on-the-ground teams in collaboration with regional technological and financial partners, including Opulence Capital Management, Al Quraishi Group and the HIF (Ha’il Investment Fund (“HIF”) is a Public Investment Fund-Esque impact fund, headquartered in Ha’il, Saudi Arabia and managed by Opulence Group subsidiary, UAE-based Opulence Capital Management. HIF’s royal mandate is to incubate and develop innovative technology, healthcare, and industry from around the globe for the region of Ha’il and the Kingdom of Saudi Arabia).
Key projects of the healthcare transformation under evaluation by Nano include the development of a USD 9Bn semiconductor manufacturing plant (“FAB” or a fabrication facility for new semiconductor manufacture) that, through HIF’s backing, would manufacture logic and AI chips developed through joint designs with ARM Holdings. It is anticipated that the manufacturing component will be located in Ha’il, with an advanced microprocessor design center in NEOM (the futuristic smart city designed for those who want to dream big and build a new model for sustainable living, working, and prospering; NEOM is a key initiative of His Highness, the Crown Prince Mohammad Bin Salman Al Saud). Al Quraishi Engineering has been selected to conduct studies evaluating locational and engineering feasibility for the facility.
ARM Holdings is a Cambridge, UK-based chip design firm majority owned by SoftBank’s Vision Fund. The Vision Fund is a significant investment of Saudi Arabia’s sovereign wealth fund, the Public Investment Fund (PIF), an organization chaired by HRH Prince of the Kingdom of Saudi Arabia, Mohammad Bin Salman Al Saud. PIF and affiliates are mandated to enable the creation of new sectors and opportunities that will shape the future global economy. ARM Holdings is committed to an initial public offering in 2023.
Additional focus points evaluated for 2023 include:
- The USD 28.5Bn Kingdom-wide healthcare privatization initiative.
- The development of a new healthcare framework.
- Deployment of Nano CureLink platform technology across primary care centers across the Kingdom.
“By supporting Nano and ARM Holdings to bring this transformational technology platform and projects to the Kingdom, we continue our mandate of keeping Saudi Arabia at the forefront of innovation. Ha’il is the perfect home for implementing the technology and manufacturing that will bring this platform to the entire Kingdom and beyond. Furthermore - this collaboration synthesizes with existing key initiatives of our Vision 2030 colleagues, including the Public Investment Fund and its portfolio company ARM Holdings.” said Alexander Vanderhey, Managing Director of HIF, when interviewed regarding the proposed semiconductor FAB to be built in Ha’il, Saudi Arabia during the HIF project announcement celebration held on December 25, 2022.
At the same event, the Hon. Steven G. Papermaster, Chairman and CEO of Nano Cures, added, “The opportunity to impact healthcare transformation is so powerful that it will not only uplift Ha’il and the Kingdom but prove to be among the best in class globally. Our continued collaboration with our partners is paramount to actualizing the Vision 2030 strategy and, like the PIF Future Investment Initiative (FII) NEOM and Red Sea Global, be generational innovations.”
Nano’s technology pilot programs before and during the COVID pandemic have gone through evaluations in other parts of the GCC, China, and SE Asia to develop a mature platform with the potential to transform the world’s fundamental view of healthcare.
“Ha’il’s human capital, culture, and progressive, enlightened embrace of technology allows us the ability to bring revolutionary technology to Ha’il and become a key initiative of the HIF, PIF, SIDF, and our other financial colleagues within theKingdom,” said HIF Chairman Alexander Vanderhey in the Christmas Day project announcement speech.
The launching of true healthcare transformation is made possible by components of the Nano CureLink platform. This innovative platform, developed primarily in the United States by Nano Cures, builds on decades of combined innovation across a range of partners. Nano CureLink is a foundational ecosystem that connects, monitors, and delivers healthcare data and medical cures for total population health coverage. These functions are applied through various technologies, including leading alternative drug delivery mechanisms, ambient AI-driven data collection (enabled by ARM Holdings technology), and direct-to-patient health diagnostics.
Company Name: Opulence Group
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Country: Saudi Arabia