Saudi Aramco and Johns Hopkins Medicine Launch Health Care Joint Venture - 01/28/2014
Saudi Aramco and Johns Hopkins Medicine Launch Health Care Joint Venture
Saudi Aramco, a fully integrated global energy and chemicals enterprise, and Johns Hopkins Medicine, a leading U.S. academic health system with extensive experience in elevating care delivery worldwide, today inaugurated a first-of-its-kind health care joint venture in Dhahran, Saudi Arabia. The new company, Johns Hopkins Aramco Healthcare Company, will begin operations on February 1, 2014. Saudi Aramco and Johns Hopkins Medicine each have an indirect ownership interest in the Saudi-registered company. The health care joint venture will bring together Saudi Aramco's long established health care delivery system and its approximately 350,000 beneficiaries and the world-renowned clinical, education and research expertise of Johns Hopkins Medicine.
Johns Hopkins Aramco Healthcare will deliver high-quality health care to Saudi Aramco's employees and their families. The partnership will enable growth and diversify and strengthen the provision of medical services in the Kingdom.
"This partnership will result in a comprehensive transformation to further enhance our health care standards, and marks the beginning of a new level of care with new lines of treatment, new and enhanced specialties and subspecialties. It will also enable new forays into research and medical education as well as create opportunities for education and training of medical staff," said Abdulaziz F. Al-Khayyal, Senior Vice President of Industrial Relations at Saudi Aramco.
Johns Hopkins Aramco Healthcare is expected to fuel clinical innovation, serve as a model in the provision of health care and contribute to the development of the health care industry in alignment with Saudi Aramco's commitment to enabling growth, opportunities and diversification within the Kingdom's economy.
For more than 80 years, Saudi Aramco has established a strong, comprehensive health care system that delivers on the company's commitment to provide quality health care to its employees and health care beneficiaries. The company has been instrumental in building one of the first hospitals in Saudi Arabia.
On a broader time scale, Johns Hopkins Aramco Healthcare will seek to improve population health through scientific innovation, clinical care, and training of clinicians, nurses and health care professionals - the very principles that have defined Johns Hopkins Medicine throughout its 124-year history.
"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, M.D., dean of the medical faculty and CEO of Johns Hopkins Medicine. "Johns Hopkins Aramco Healthcare 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."
"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, CEO 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."
About Johns Hopkins Aramco Healthcare
Johns Hopkins Aramco Healthcare Company (JHAH) 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 Healthcare, drawing upon the vast expertise of The Johns Hopkins University and The Johns Hopkins Hospital and Health System to provide clinical program development, research, training, safety and quality, and health care administration expertise.
Over the coming years, this global collaboration will contribute significantly to health and wellbeing in the Kingdom of Saudi Arabia. Johns Hopkins Aramco Healthcare will evolve into a center of excellence that provides enhanced specialty and subspecialty services, new lines of treatment, research and education that address some of the most significant health care challenges in the region.
About Saudi Aramco
Owned by the Saudi Arabian Government, Saudi Aramco is a fully integrated, global petroleum enterprise and a world leader in exploration and producing, refining, distribution, marketing and petrochemicals manufacturing. In addition to its headquarters in Dhahran, Saudi Arabia, Saudi Aramco, through its affiliates, has joint ventures and subsidiary offices in China, Japan, India, the Netherlands, the Republic of Korea, Singapore, the United Arab Emirates, the United Kingdom and the United States. For more information, visit www.saudiaramco.com
About Johns Hopkins Medicine (JHM)
Headquartered in Baltimore, Maryland, JHM is a $6.7 billion integrated global health enterprise and one of the leading academic health care systems in the United States. JHM unites physicians and scientists of the Johns Hopkins University School of Medicine with the organizations, health professionals and facilities of The Johns Hopkins Hospital and Health System. JHM's vision, "Together, we will deliver the promise of medicine," is supported by its mission to improve the health of the community and the world by setting the standard of excellence in medical education, research and clinical care. Diverse and inclusive, JHM educates medical students, scientists, health care professionals and the public; conducts biomedical research; and provides patient-centered medicine to prevent, diagnose and treat human illness. JHM operates six academic and community hospitals, four suburban health care and surgery centers, and more than 35 Johns Hopkins Community Physicians sites. The Johns Hopkins Hospital, opened in 1889, was ranked number one in the nation for 21 years in a row by U.S. News & World Report. For more information about Johns Hopkins Medicine, its research, education and clinical programs, and for the latest health, science and research news, visit www.hopkinsmedicine.org.
About Johns Hopkins Medicine International (JHI)
Johns Hopkins Medicine International (JHI) facilitates the global expansion of the Johns Hopkins Medicine mission: to improve the health of the community and the world by setting the standard of excellence in medical education, research and clinical care. JHI provides personalized, culturally appropriate care for patients traveling to Johns Hopkins from outside Maryland and the United States, and for local patients with limited English proficiency. JHI also leverages Johns Hopkins' extensive knowledge base in medicine, nursing, public health, medical education, research and health care administration to improve health and health care delivery through sustainable, high-impact collaborations throughout the world.