March 10, 2023
Shorooq Partners Invests In Gulf Capital’s SANTECHTURE
SANTECHTURE, is proud to have formed a groundbreaking partnership with Gulf Capital (“GC”), one of the largest and most active private equity firms investing from the GCC to Southeast Asia, and Shorooq Partners, the leading seed stage venture capital firm in the MENAP region with over 60 portfolio companies across Fintech, Software, Platform, and Blockchain. Through its comprehensive line of end-to-end Revenue Cycle Management (“RCM”) software solutions, SANTECHTURE seeks to revolutionize healthcare in Saudi Arabia and the United Arab Emirates. The business offers cutting-edge RCM software solutions to healthcare providers, leveraging the most recent developments in AI and deep technology to improve the experience for providers, payers, and patients as a whole.
The strategic and close partnership between Gulf Capital and Shorooq Partners represents a significant turning point in the growth of the Middle Eastern technology ecosystem and is a powerful indicator of the maturity of the venture capital and private equity sectors. Shorooq Partners brings a wealth of knowledge and expertise in technology investing, spotting emerging trends, and supporting founders and startups that have the potential to disrupt established industries. Gulf Capital has a long history of investing in the technology, Fintech, and HealthTech sectors. The companies have been collaborating for a while, and their most recent project shows that they both have confidence in the long-term growth potential of the healthcare and healthtech sectors in the area.
Quality healthcare services are in greater demand throughout Saudi Arabia and the UAE, and there is a greater focus on managing the financial aspects of delivery effectively. A distinct and accelerating trend for markets that are reaching maturity is the adoption of digital technologies for scalable infrastructure for the healthcare sector. RCM software and AI tools are enabling hospitals and clinics to automate manual processes, lower the risk of errors through recommendations based on evidence, and increase overall productivity. SANTECHTURE, with its cutting-edge SaaS solutions and flagship products ROBIN, THYNK, CODEMINE, and QUBE, is at the forefront of RCM innovation throughout the GCC.
“We are thrilled and delighted to partner with Gulf Capital and Shorooq Partners, whose expertise, strategic support, and growth capital will further extend our market leadership and ambitious expansion across KSA, the UAE, and beyond, By offering artificial intelligence (“AI”) powered cloud-based solutions, our specialised products are revolutionising healthcare technology in the area of Revenue Cycle Management (RCM), democratising the adoption of emerging technologies across enterprise and SME healthcare providers, cutting costs, reducing claim rejections, and offering insightful data towards value-based healthcare” said Anas Batikhi, founder and CEO of SANTECHTURE.
“Healthcare infrastructure has always been a key area of interest for Shorooq Partners. We think SANTECHTURE is a distinctive technology company that uses DeepTech, AI, and proprietary data to address inefficiencies in the healthcare sector across its range of product offerings. We are confident in supporting Anas and SANTECHTURE as they embark on their early journey to disrupt and rule the market. An important innovation and growth engine in the region, our partnership with Gulf Capital will give SANTECHTURE the resources and support it needs to expand across Saudi Arabia, the United Arab Emirates, and other markets. The healthcare sector is about to undergo a transformation, and SANTECHTURE, supported by this special partnership, is leading the way. “said Shane Shin, founding partner of the company
“SANTECHTURE is a true pioneer, providing cutting-edge cloud-based SaaS solutions that are specifically designed for the GCC and beyond. A convincing indication of the efficacy and popularity of SANTECHTURE’s RCM solutions is the long and expanding list of blue-chip clients in Saudi Arabia and the United Arab Emirates. As it scales operations, makes additional investments in DeepTech and AI technologies, and expands its innovative software solutions across new segments, SANTECHTURE is committed to having our continued support as it enters its next stage of growth throughout the region. Given our similar outlook on SANTECHTURE’s future, Shorooq’s experience in investing in SaaS platforms, and the general development of the healthcare market in our region, we are also excited to welcome Shorooq as our newest partner. Gulf Capital has concentrated on priority industries like technology, Fintech, and health technology, and this most recent investment in SANTECHTURE solidifies our reputation as one of the GCC’s most active technology and health technology investors.” added Mohammad Madani, Managing Director at Gulf Capital.
In the Media: Zawya