Press Release

January 29, 2024

Saudi Council of Health Insurance grants ACCUMED Saudi Arabia ‘Best RCM Service Provider’ Award

Gulf Capital announced today that the Saudi Council of Health Insurance (CHI) presented its Healthcare Revenue Cycle Management (RCM) portfolio company, ACCUMED Saudi Arabia, the prestigious ‘Best RCM Service Provider of the Year’ Award. This accolade is a significant testament to ACCUMED’s leadership and innovation in the healthcare sector.

Dr. Ayham Refaat, Founder and CEO of ACCUMED Group, expressed his gratitude and appreciation: “This award from the Saudi Council of Health Insurance is an incredible honour and a reflection of the dedication of our remarkable team in Saudi under the leadership of Dr Mohammad Al Dar. Seeing the company I founded 15 years ago reach such heights of recognition and excellence fills me with immense pride. This recognition strengthens our resolve and commitment to continue our journey to expand and strengthen the RCM industry in the region.”

Dr. Mohammed Aldar, Managing Director at ACCUMED Saudi Arabia, added: “This esteemed recognition by the CHI is a milestone for us at ACCUMED Saudi Arabia. It underscores our commitment to providing top-notch RCM services and our continuous efforts to meet the evolving needs of the healthcare sector in the Kingdom. We are proud to contribute to the Saudi healthcare community and look forward to setting new benchmarks in the industry.”

ACCUMED has made significant strides in the healthcare sector, having processed more than nine million claims in Saudi Arabia to date, with the total invoiced amount exceeding SAR 1.4 billion. This achievement highlights the company’s expertise and efficiency in managing complex healthcare financial transactions and underscores its role as the leader in the RCM domain in Saudi Arabia.”

Mohammad Madani, Managing Director at Gulf Capital, concluded: “We extend our heartfelt congratulations to the entire team at ACCUMED, and to its clients and customers, whose support has been paramount in this accomplishment. As we celebrate this milestone, we look forward to continuing our support for ACCUMED in its mission to revolutionise healthcare management and drive further innovations in the healthcare industry in Saudi Arabia.”

Gulf Capital, known for its strategic investments in high-potential companies, has a robust portfolio of businesses contributing positively to the growth of the Saudi economy. The firm has a portfolio of companies operating in Saudi Arabia in the healthcare, technology and fintech, business services, food, education, water, wastewater, oil and gas, and real estate. Gulf Capital has invested over SAR 2 billion to date in direct investments in Saudi Arabia. Among its largest investments is Geidea, the leading payment services provider in Saudi Arabia. Employing 900 people in Saudi Arabia, Geidea plays a crucial role in supporting SMEs, aiding in job creation, and facilitating seamless transactions both offline and online. This support is vital for the burgeoning SME sector, which is a cornerstone of economic development and diversification in the Kingdom.