Estithmar Holding announced that its subsidiary Elegancia Healthcare has established a branch of its company in Iraq, as part of the company’s strategy to expand internationally.
This move is in line with the recently signed memorandum of understanding (MoU) with the Iraqi National Investment Commission, in order to manage and operate several hospitals in the country to provide high-quality health services to Iraqi citizens.
This milestone paves the way for implementing development projects that are in line with Estithmar Holding’s international business expansion plan, and its commitment to increase shareholder value, as well as to provide world-class healthcare facilities and services to positively impact communities around the world.
Mr. Moutaz Al-Khayyat, Chairman of Estithmar Holding, stated that, “This step further emphasizes the strong and strategic relation between the two countries on both economic and social levels, especially that Iraq has become a promising destination for different types of investments and across various sectors.”
On the establishment of the branch in Iraq, Mr. Joseph Hazel, CEO of Elegancia Healthcare, commented that “Elegancia Healthcare was founded with a mandate to manage and operate state-of-the-art healthcare facilities to the highest world-class standards. We are excited and prepared to explore innovative ways to collaborate on launching projects that will contribute to the development of the healthcare sector in Iraq.”
Elegancia Healthcare has extensive experience in developing and operating healthcare facilities, such as the View Hospital in affiliation with Cedars-Sinai which is a modern healthcare institution that focuses on world-class clinical excellence.
