Riyadh: In the esteemed presence of His Royal Highness Prince Abdulaziz bin Salman bin Abdulaziz, Minister of Energy and Chairman of the Board of Trustees of King Fahd University of Petroleum and Minerals (KFUPM), King Faisal Specialist Hospital & Research Centre (KFSHRC) signed a Memorandum of Understanding (MoU) with KFUPM this Sunday morning.

 The agreement aims to expand research collaboration and medical innovation, focusing on the development of biomedical devices, medical technologies, and digital health. This initiative seeks to enhance Saudi Arabia's leadership in medical research and development on a global scale and took place at the university in Dhahran.

The MoU aims to establish a shared vision to address the most complex medical challenges locally and internationally by leveraging advanced research facilities and state-of-the-art infrastructure to foster innovations in bioengineering and biomarker discovery, as well as developing a joint technology incubator and accelerator to support start-ups and localize the biotechnology industry.

Under the agreement, both parties will explore opportunities to create joint postgraduate programs, organize workshops and seminars to exchange knowledge and strengthen research capabilities. Additionally, they will also look into collaboration opportunities to establish facilities that accelerate research, support ongoing projects, and promote discoveries, including the commercialization of biotechnology products and services, in line with the aspirations of Saudi Arabia's National Biotechnology Strategy, to position the Kingdom as a regional hub in the Middle East and North Africa by 2030, and globally by 2040.

It is noteworthy that KFSHRC has been ranked first in the Middle East and Africa and 20th globally in the list of the world’s top 250 Academic Medical Centres for the second consecutive year and recognised as the most valuable healthcare brand in the Kingdom and the Middle East, according to the 2024 Brand Finance rankings. Additionally, it was included in the World’s Best Smart Hospitals list for 2025 by Newsweek magazine.

For more information, visit www.kfshrc.edu.sa or contact our media team at mediacoverage@kfshrc.edu.sa