The agreement was signed on June 23, 2013, in Dhahran, Saudi Arabia, by Abdulaziz F. Al-Khayyal, senior vice president, Industrial Relations, Saudi Aramco and Paul B. Rothman, M.D., dean of the medical faculty, CEO of Johns Hopkins Medicine.
The new company will focus on providing high-quality health care services to Saudi Aramco’s employees, dependents and annuitants that make up their eligible medical recipients.
“This joint venture brings together two global leaders who share a strong commitment to improve access to world-class health care services,” said Al-Khayyal.
“Over the last 80 years, Saudi Aramco doctors and nurses have served the medical needs of employees and family members. Now, with Johns Hopkins Medicine International as a joint venture partner, we will set an even higher standard for future generations. This is a logical step in our company’s transformation and demonstrates our ongoing commitment to our people.”
“For more than 120 years, Johns Hopkins has been recognized as a national and global leader in patient care, research and education,” said Dr. Rothman.
“We are pleased to have the opportunity to share our innovations and best practices with our colleagues at Saudi Aramco and to assist them with further strengthening the health care services the company offers to its employees, retirees and their families.”
The new venture will assume the responsibilities of Saudi Aramco Medical Services Organization (SAMSO), which manages the health-related services for approximately 350,000 members of the Saudi Aramco community.
Under the terms of the agreement, Saudi Aramco and JHI will each hold an ownership stake in the new Saudi company. JHI, drawing upon the vast expertise of The Johns Hopkins University and The Johns Hopkins Hospital and Health System, will provide comprehensive clinical services, research, education and management expertise to the joint venture.
“Johns Hopkins Medicine has more than a decade of experience in assisting health care organizations and governments around the world as they strive to elevate the standard of health care in their countries and regions,” said Steven J. Thompson, CEO of Johns Hopkins Medicine International.
“Our international work now spans more than a dozen countries on four continents. It is a privilege for us to collaborate with Saudi Aramco to carry forth its commitment to improving the health of its employees. We are especially energized by the patient safety, nursing, research and medical training initiatives that will be at the core of this work, and we believe this new joint venture will allow us to advance Johns Hopkins’ vital mission of improving the health of the world.”
“This agreement marks the first step in the long-term process of creating a new medical center of excellence in Saudi Arabia,” Dr. Saeed Mughram, SAMSO executive director, said.
“Building on the strong, well-established health care system at Saudi Aramco and the proven expertise of Johns Hopkins Medicine, the joint venture will provide enhanced services, including new clinical programs, and in the future, centers of excellence in clinical research and education, to address some of our most significant health issues, including diabetes and heart disease.”
Today’s signing of the agreement marks the beginning of a multi-year, phased integration plan for the joint venture. The new company is expected to commence operations in the early part of 2014.