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Thursday, March 30, 2023

Shorooq Partners Invests in Gulf Capital’s HealthTech Company

Shorooq Partners Invests in Gulf Capital’s HealthTech Company

Gulf Capital (GC) and leading seed-stage venture capital firm Shorooq Partners have entered into a partnership to back Santechture, a cutting-edge HealthTech cloud-based Software-as-a-Service (SaaS) company.

Santechture aims to revolutionize healthcare in Saudi Arabia and the UAE with its full suite of end-to-end Revenue Cycle Management (RCM) software solutions. The company leverages the latest advances in artificial intelligence and deep technology to provide healthcare providers with innovative solutions that enhance the overall experience for providers, payers and patients.

The strategically close collaboration between Gulf Capital and Shorooq Partners marks an important milestone in the development of the Middle East technology ecosystem and a testament to the maturity of the venture capital and private equity industry.

Gulf Capital has a long history of investing in technology, fintech and healthtech, while Shorooq Partners has deep knowledge and expertise in technology investing, identifying emerging trends and backing founders and start-ups with the potential to disrupt existing industries.

RCM software and artificial intelligence tools are paving the way for hospitals and clinics to automate manual processes, reduce potential errors through evidence-based recommendations, and improve overall efficiency. Santechture is at the forefront of RCM innovation in the GCC region with its innovative SaaS solutions and flagship products ROBIN, THYNK, CODEMINE and QUBE.

Anas Batikhi, Founder and CEO of Santechture, said: “We are delighted to partner with Gulf Capital and Shorooq Partners whose expertise, strategic support and growth capital will further expand our market leadership and Ambitious Expansion. Our specialty products revolutionize the adoption of emerging technologies by delivering artificial intelligence (“AI”) powered cloud-based solutions to enterprise and SME healthcare providers, lowering costs and reducing claims Addresses healthcare technology rejection in the revenue cycle management (RCM) space and provides valuable insights for value-based healthcare.”

Shane Shin, founding partner of Shorooq Partners, said: “Healthcare infrastructure has always been a key area of ​​focus for Shorooq Partners. We believe Santechture is a unique technology company that leverages DeepTech, artificial intelligence and proprietary data to address the healthcare industry’s many challenges. Given the existing inefficiencies in this product, we are bullish on supporting Anas and Santechture in their early journeys to disrupt and dominate the market.

“Our landmark partnership with Gulf Capital in the region is a powerful vehicle for innovation and growth and will provide Santechture with the support and resources needed to drive growth and scalability in Saudi Arabia, the UAE and other markets. Healthcare The industry is poised to transform, and Santechture, supported by this unique partnership, is at the forefront of change.”

“Santechture is a true pioneer with a unique cloud-based SaaS solution tailored for the GCC region and beyond. The growing list of blue-chip clients in Saudi Arabia and the UAE is a strong testament to the effectiveness of Santechture’s RCM solution and attractiveness,” added Gulf Capital managing director Mohammad Madani.

“We are committed to continuing to support Santechture’s next phase of growth in the region as it scales up its operations, further invests in DeepTech and AI technologies, and expands its innovative software solutions in new areas.

“We are also delighted to welcome Shorooq as our newest partner, as we share a vision for Santechture’s prospects, its expertise in SaaS platform investments, and the overall development of the healthcare market in our region. Gulf Capital to focus on priority areas , including technology, fintech and healthtech, and the latest investment in Santechture cements our track record as one of the most active technology and healthtech investors in the GCC,” concluded Madani. – trade arab news agency

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