Gulf Capital, one of the largest private equity firms investing from the GCC to the rest of Asia, on Tuesday said that global healthcare technology company CorroHealth has made a strategic investment into one of its portfolio companies, Santechture, a Dubai based pioneering revenue cycle management (RCM) intelligent technology solutions provider.
The deal brings together the industry-leading AI capabilities of CorroHealth with the advanced RCM solutions of SANTECHTURE, equipping SANTECHTURE healthcare clients across the Gulf Cooperation Council (GCC) region with powerful new technology to maximize ROI.
The investment also formalises what has been a productive working relationship between the two companies. Over the past two years, CorroHealth and SANTECHTURE have successfully completed multiple proofs of concept for SANTCEHTURE clients.
In January, SANTECHTURE and CorroHealth jointly hosted the Arab Health reception focused on AI and Revenue Cycle Management (RCM) Innovation.
SANTECHTURE, which is backed by leading institutional investors Gulf Capital and Shorooq Partners, has seen a phenomenal increase in demand for its advanced deep tech RCM solutions in the GGC and across regional markets, and this partnership will support yet another leap ahead in advancing innovation and value creation.
Moving Forward
CorroHealth CEO Pat Leonard said that this has been an exciting step forward for CorroHealth, as they combined technological capabilities with a local company based in the GCC region.
It was also joining forces with SANTECHTURE brings the best of both worlds to provide clients in the region with unsurpassed RCM capabilities to protect hospitals’ bottom lines and help to ensure their financial future, Pat said.
SANTECHTURE Founder and CEO Anas Batikhi said that the pairing of SANTECHTURE’s unique leading-edge solutions with CorroHealth’s AI driven innovations in the RCM technology space is truly unrivalled.
“We are thrilled to be cementing further our working relationship with CorroHealth and leading the intelligent automation drive to support our clients and partners with their RCM digital transformation journey, delivering on cost reduction and improved revenue outcomes,”Batikhi said.
Gulf Capital Managing Director Mohammad Madani said that they were proud to have been early backers of SANTECHTURE and to now support this landmark partnership between SANTECHTURE’s and CorroHealth.
This strategic investment is a strong validation of SANTECHTURE’s leadership in intelligent RCM solutions across the GCC and marks a pivotal milestone in its growth journey. We are confident this collaboration will unlock significant value for healthcare providers in the region.”
Bilal Mushtaq, CorroHealth’s Executive Vice President of Global Growth and Strategy for GCC market expansion, said that this strategic investment and partnership marks a pivotal step forward in their growth strategy, reinforcing the company’s commitment to innovation and delivering greater value to a new market.
This is not just a collaboration but a shared vision to forge a new path towards providing excellence in revenue cycle management, he added.
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