Frimex acquires majority stake in Saudi neonatal care and pharmaceutical supplier

Frimex International Investment Co., the Gulf investment arm of Hayel Saeed Anam & Co., has acquired a 60 per cent stake in Gulf Neo Care, a Saudi Arabia-based healthcare company specialising in neonatal care, pharmaceuticals and medical devices. The investment will position Gulf Neo Care as the foundation of a broader healthcare platform focused on expanding presence across the Kingdom's growing healthcare sector.

Arab News reported that the agreement was signed in Riyadh in the presence of Mohammed bin Abdulrahman Aba Hussein, deputy minister of investment for integrated investor services, along with government officials and company executives. The transaction marks Frimex's expansion into healthcare investments in Saudi Arabia, a sector seeing growing private-sector participation under Vision 2030 reforms.

Ibrahim Hayel Saeed, chairman of Frimex and board member of HSA Group, said: "We aim to build on Gulf Neo Care's proven track record while further strengthening its position within the Kingdom's healthcare ecosystem."

Founded in 2011, Gulf Neo Care serves more than 700 clients and operates across approximately 90 per cent of cities in the Kingdom, supplying specialised neonatal care solutions and pharmaceutical products to healthcare providers. The company operates a logistics centre in Riyadh compliant with Saudi Food and Drug Authority standards and maintains a temperature-controlled fleet supplying pharmaceuticals and critical medical products to public and private healthcare institutions.

Saleh Abdulrahman Al-Olayan, co-founder and board member of Gulf Neo Care, said the company's decision to partner with Frimex was driven by shared long-term goals and reflects strong alignment in commitment to sustainability and institutional integration.

Access the complete transaction details for information on Gulf Neo Care's operational infrastructure and expansion strategy.