Dr. Soliman Abdulkader Fakeeh Hospital Company (Fakeeh Care) has signed a memorandum of understanding (MoU) with the Samsung C&T Corporation Saudi Arabia, the local unit of South Korean construction giant, to develop healthcare projects and smart hospitals in the Kingdom.

The companies will jointly work to implement artificial intelligence technologies and smart hospital systems inspired by the South Korean experience, Fakeeh Care said in a statement.

The co-investment in the healthcare projects will be under a property-and-operating company model.

The renewable MoU is valid for one year, starting 14 May 2026.

No details were provided about the companies' proposed investment.

This month, Fakeeh Care acquired Dr. Mohammed Bin Rashed Al Faqih & Partners Company (Al Faqih & Partners) for a cash offer of 1.596 billion riyals ($425 million).

Fakeeh Care reported a 46.8 percent year-on-year decline in first quarter net profit to SAR 38.41 million, citing fewer operating days due to a longer Ramadan and Eid Al Fitr period in first quarter 2026 compared with first quarter 2025.

(Writing by P Deol; Editing by Anoop Menon)

(anoop.menon@lseg.com)

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