Saudi Aramco and Johns Hopkins Medicine Tuesday launched a joint venture in Dhahran to provide upgraded health care for the oil company’s 350,000 beneficiaries.
The new company, Johns Hopkins Aramco Health Care Company, will begin operations on Feb. 1, 2014. The two parties each have an indirect ownership interest in the Saudi-registered company.
The health care joint venture will bring together Saudi Aramco’s delivery system and its beneficiaries and the clinical, education and research expertise of Johns Hopkins Medicine.
The joint company is expected to deliver high-quality health care to Saudi Aramco’s employees and their families.
Abdulaziz F. Al-Khayyal, senior vice president of industrial relations at Saudi Aramco, said the partnership would transform the oil company’s health care standards, with new lines of treatment and enhanced specialties and subspecialties.
“It will also enable new forays into research and medical education, and create opportunities for education and training of medical staff,” he said.
Saudi Aramco has had a comprehensive health care system for its employees for more than 80 years.
The company was instrumental in building one of the first hospitals in Saudi Arabia.
Johns Hopkins Medicine has been operating for 124 years.
“Together, we will be greater than the sum of our parts, because this joint venture combines Saudi Aramco’s existing health system with the transformative science, clinical
care and education that Johns Hopkins is known for,” said Paul B. Rothman, dean of the medical faculty and chief executive officer of Johns Hopkins Medicine.
“Johns Hopkins Aramco Health Care will become an incubator for clinical and scientific progress and will address some of the region’s most pressing health challenges, including cardiovascular disease, diabetes and other chronic conditions, which are on the rise worldwide,” said Paul B. Rothman.
“It is a privilege for us to collaborate with Saudi Aramco to carry forth its commitment to improving the health of its employees,” says Steven J. Thompson, chief executive officer of Johns Hopkins Medicine International. “Doing so will be mile one on a long journey to enhance the well-being of the entire community, and represents a next-generation approach to global collaborative health care.”
Johns Hopkins Aramco Health Care Company is the result of a joint venture between Saudi Aramco, a fully integrated global energy and petrochemicals enterprise, and Johns Hopkins Medicine, one of the world’s leading academic health systems.
This health care organization is designed to drive and enhance the wellbeing of the community in an environment of growth and learning, by providing innovative, integrated and patient-centered care to Saudi Aramco’s employees and health care beneficiaries.
Since 1933, Saudi Aramco had delivered a high standard of medical care to its employees and their families through its own medical services organization.
In 2013, Saudi Aramco partnered with Johns Hopkins Medicine to carve out and expand the capabilities of its medical services through Johns Hopkins Aramco Health Care
It drew on the vast expertise of Johns Hopkins University and Johns Hopkins Hospital and Health System to provide clinical program development, research, training, safety and quality, and health care administration
expertise.
Saudi Aramco upgrades employee health care with new US provider
