Rokit Healthcare to Establish JV with UAE Investment Firm, Secures 30 Billion Won Investment

Targeting the Global Market

Through Expansion into the GCC and Europe

Rokit Healthcare is moving to enter the Middle Eastern market by establishing a joint venture with an investment firm based in the United Arab Emirates (UAE).

Rokit Healthcare company logo image. Rokit Healthcare

On April 14, Rokit Healthcare announced that it had signed a memorandum of understanding (MOU) with the UAE investment institution Master Investment Group (MIG) for an equity investment and the establishment of a joint venture (JV).

Under the agreement, the two companies will work to set up a Middle Eastern joint venture tentatively named 'ROKIT MENA.' MIG will contribute approximately 30 billion won in capital, while Rokit Healthcare will make a contribution in kind by providing its core AI organ regeneration platform technology. After the investment agreement is finalized, the companies plan to proceed with establishing a local factory and the joint venture.

For the signing of this MOU, Sheikh Abdullah Bin Mohammed Bin Saqr Al Qasimi, CEO of MIG and a member of the royal family of Ras Al Khaimah (RAK), UAE, visited Rokit Healthcare's Seoul headquarters in person to review its technology and discuss the business vision.

The joint venture plans to establish AI organ regeneration clinics and local production bases in the UAE, and then expand its medical network to major Gulf Cooperation Council (GCC) countries such as Saudi Arabia, as well as to the European market. Through this agreement, Rokit Healthcare aims to accelerate the development of a global direct sales channel spanning the United States, China, the Middle East, and Europe.

Yoo Seokhwan, CEO of Rokit Healthcare, stated, "With this investment and the establishment of the JV as a starting point, we will begin to expand our business in the global AI organ regeneration sector in earnest."

This content was produced with the assistance of AI translation services.