ARM Holdings, the UK’s leading technology company, will drive the infrastructure and technological transformation of the Kingdom of Saudi Arabia’s broader healthcare system through joint chip designs with Nano (Nano Cures International, a global healthcare technology company based in Abu Dhabi). Through its partnerships and on-site development, Nano is pioneering a new healthcare infrastructure that aims to become a new global standard of care.
Active in the Kingdom, Nano conducted due diligence and audited existing healthcare infrastructure and deployed on-site teams in collaboration with regional technology and financial partners including Opulence Capital Management, Al Quraishi Group and HIF (Ha’il Investment Fund). (“HIF”) is a public investment fund-like impact fund headquartered in Ha’il, Saudi Arabia and managed by Opulence Group’s subsidiary, Opulence Capital Management, based in the United Arab Emirates. The Royal Mandate of HIF consists of bringing innovative technology, healthcare, and industry from around the world to the Ha’il region and the Kingdom of Saudi Arabia).
Nano has driven projects through working sessions and strategic alignment with the Kingdom of Saudi Arabia’s Health Transformation Team (including the Vision 2030 Health Sector Transformation Program and its stakeholders, the Ministry of Health and its representatives, the Public Investment Fund and its 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, the Ministry of Human Resources, the Ministry of Investment, the Government Procurement Agency, the Saudi Food and Drug Administration, the Ministry of Industry and the other members of the UK Economy and Development Council).
Key healthcare transformation projects being evaluated by Nano include the development of a $9 billion semiconductor manufacturing facility (“FAB” or a new semiconductor manufacturing facility) powered by HIF logic and AI would manufacture chips developed through joint designs with ARM Holdings. The manufacturing component is expected to be located in Ha’il, with an advanced microprocessor design center in NEOM (the futuristic smart city designed for those who dream big and a new model for sustainable living, working and thriving want to build; NEOM is a key initiative of His Highness the Crown Prince Mohammad Bin Salman Al Saud). Al Quraishi Engineering was selected to conduct site and technical feasibility studies for the plant.
ARM Holdings is a Cambridge, UK based chip design company majority owned by Softbank’s Vision Fund. The Vision Fund is a major investment by Saudi Arabia’s sovereign wealth fund, the Public Investment Fund (PIF), an organization chaired by His Highness The Crown Prince of the Kingdom of Saudi Arabia, Mohammad Bin Salman Al Saud. PIF and its affiliates have been tasked with enabling the creation of new sectors and opportunities that will shape the future global economy. ARM Holdings has committed to an IPO in 2023.
Other priorities assessed for 2023 include the US$28.5 billion nationwide healthcare privatization initiative, the development of a new healthcare framework and the deployment of Nano CureLink platform technology in primary care centers across the UK.
“By supporting Nano and ARM Holdings to bring this transformative technology platform and projects to the Kingdom, we continue our mandate to keep 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. Additionally, this collaboration is a synthesis 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, speaking during the HIF project announcement ceremony on March 25.
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’s not just a buoyancy for Ha’il and the Kingdom but will also prove to be among the best in its class worldwide. Our ongoing collaboration with our partners is paramount to delivering the Vision 2030 strategy and, like PIF Future Investment Initiative (FII) NEOM and Red Sea Global, cross-generational innovation.”
Nano’s technology pilot programs before and during the COVID pandemic have been evaluated in other parts of the GCC, China and Southeast Asia to develop a mature platform that has the potential to transform the fundamental world view of healthcare.
“Ha’il’s human capital, culture and progressive, enlightened embrace of technology enable us to bring disruptive technology to Ha’il and become a key initiative of HIF, PIF, SIDF and our other finance peers in the Kingdom,” said HIF -Chairman Alexander Vanderhey in the Christmas Day announcement speech.
Launching true healthcare transformation is enabled by components of the Nano CureLink platform. Developed primarily in the United States by Nano Cures, this innovative platform builds on decades of combined innovation from a number of partners. Nano CureLink is an essential ecosystem that connects, monitors and delivers health data and medical cures for the healthcare of the entire population. These capabilities are applied through various technologies, including leading alternative drug delivery mechanisms, ambient AI-driven data collection (enabled by ARM Holdings technology), and point-of-care health diagnostics.
