Alkhair Capital signs MoU with KLAIM to launch $50 million worth of investment products to support MEAN healthcare providers

Alkhair Capital Saudi Arabia at KAFD

Alkhair Capital Saudi Arabia at KAFD

Alkhair Capital seeks to identify suitable investment products for the Saudi market and launch them after obtaining approval from regulators

We believe in the potential of these solutions to revolutionize the health and fintech sector in the MENA region. »

— Mr. Khalid Al-Mulhem

UNITED ARAB EMIRATES, January 27, 2022 /EINPresswire.com/ — • Alkhair Capital Saudi Arabia signed a memorandum of understanding with KLAIM to launch $50 million worth of investment products aimed at supporting healthcare service providers in the MENA region

Capital of Alkhair seeks to identify suitable investment products for the Saudi market and launch them after gaining approval from regulators as well as Shariah compliance approval

• KLAIM purchases medical claims from health care providers, then collects the claimed amounts from insurance companies, with the aim of easing cash flow and the collection pressures that health care providers face. strive to overcome

• The partnership will provide Alkhair Capital investors with an opportunity to diversify their investments and support the growth of the healthcare industry in the region

• Investors will be able to benefit from the latest artificial intelligence and data science technologies applied in an integrated platform to manage the collection of medical claims

Alkhair Capital Saudi Arabia, a financial institute licensed by the Capital Market Authority and headquartered in Riyadh, has signed a memorandum of understanding with KLAIM HOLDINGS LIMITED, a fintech specializing in the purchase of medical receivables to provide a working capital to health care providers, to launch investment products with the purpose of financing the purchase of uncollected medical insurance claims from insurance companies.

Through this new partnership, Alkhair Capital aims to provide KLAIM with up to $50 million to serve more healthcare providers in the MENA region. Recognizing the cash flow difficulties faced by a large number of hospitals and medical clinics, whose waiting time varies from 112 days on average to 270 days in some cases to collect claims from insurance companies, KLAIM launched an electronic service for purchasing medical expense claims and paying them in cash within seven days.

Mr. Khalid Al-Mulhem, Managing Director and CEO of Alkhair Capital Saudi Arabia, said: “In light of the challenges facing the healthcare sector with regard to the cash flow of insurance service providers technology, KLAIM has indeed found the best innovative solutions to these problems. challenges. We believe in the potential of these solutions to revolutionize the health and fintech industry in the MENA region and we are delighted to give our investors the opportunity to invest in this new revolution and support the growth of the fintech and healthcare.

Mr. Karim Dakki, CEO of “KLAIM”, added, “This advanced financing service for healthcare providers is proving to meet strong pent-up demand in the GCC, which has led KLAIM to expand its regional footprint. “We are delighted that this partnership with Alkhair Capital follows our expansion into Saudi Arabia and Oman. The growth and prosperity of the healthcare sector depends on the financial stability of healthcare providers, and we are delighted that thanks to to this partnership, we can facilitate the collection, provide the necessary cash flow and help more care providers achieve this stability.”

This partnership offers Alkhair Capital the opportunity to provide its investors with new products to diversify their Shariah-compliant options and investments in the region’s burgeoning healthcare sector using the latest trends in analytics-based fintech. based on data and artificial intelligence solutions in the revenue cycle. management.

The fact that insurers take between 112 and 270 days to process and release payments for medical claims has been a huge impediment to the growth of healthcare providers in the region. Large healthcare providers lament the high cost of servicing the loans they have to take out from banks to meet their operational costs, while smaller ones are stranded due to the difficulty of accessing these loans.

A recent report on the MEA Home Healthcare Market forecasts that the CAGR of the MENA healthcare industry will grow by 7.7% between 2021 and 2026. The partnership between Alkhair Capital and KLAIM, as well as d “Other future partnerships like this will help reduce the cash flow pressure that threatens to stunt the growth of healthcare providers so the industry as a whole can reach its full potential.”


About Alkhair Capital Saudi Arabia

Alkhair Capital Saudi Arabia, a financial market institution licensed by the Capital Market Authority with license No. 08120-37 dated 17/11/2008, to carry on the business of trading and custody, investment management , fund operation, arrangement and advice in securities transactions in accordance with the provisions of the Islamic Shariah. Alkhair Capital Saudi Arabia is a closed joint-stock company under the regulations of the Kingdom of Saudi Arabia, and its paid-up capital is 1 billion Saudi Riyals.
https://alkhaircapital.com.sa

About KLAIM

KLAIM is a fintech company committed to improving the revenue cycle management (RCM) of healthcare providers in the MENA region. It does this by using its advanced financing solution, where it purchases medical claims in cash within seven days, and its RCM automation software which is preparing to launch. Launched in 2019 as a company based in the United Arab Emirates, KLAIM is now expanding its reach to other countries in the MENA region, such as Saudi Arabia and Oman.
https://klaim.ai

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