VISIOMED GROUP (FR0013481835– ALVMG), the French company focused on innovative healthcare technologies and services, signed a letter of intent (LOI) and has entered into exclusive discussions with Abrar Communications Co. (“Abrar”).

As part of its strategic plan presented earlier this year, Visiomed Group had disclosed its ambition to expand its operations in the wider Gulf region, relying predominantly on Smart Salem teams' know-how. Following up on the successful rollout of Smart Salem centers in Dubai (2 operating Medical Fitness centers opened and a third one under construction), Visiomed Group is looking to enter new markets, starting with Saudi Arabia.

Abrar and Visiomed Group have been assessing market needs and identified three key segments: "Medical Fitness”, diagnostic (laboratory tests and health check-ups) and preventive care. Ongoing discussions with Abrar would result in the establishment of a Joint Venture dedicated to these activities.

Each partner would make complementary contributions to make this new venture a success:

• Visiomed Group to bring its managerial and operational expertise and Smart Salem's expertise in innovative health services.
• Abrar to bring its domestic experience and industrial know-how developed through strong partnerships with top tier international technology groups (such as Thales, Airbus and Motorola).

Visiomed Group is delighted to have reached that first milestone. The exclusivity period will last 3 months. Visiomed Group will allocate significant human, financial, and technological resources to explore fully this new opportunity.

Overview of the Saudi market:

Saudi Arabia's population is projected to grow from 36 million in 2022 to over 50 million in 2030, along with a sharp increase in immigrants. In parallel, Saudi Arabia has an aging population that will require enhanced health services.

Saudi Arabia also welcomes over 8 million pilgrims coming from abroad each year. Pilgrimages trigger significant health challenges.

With these dynamics in the background, Saudi has planned significant investments by 2030:

• USD 60 billion investment in health infrastructure, including USD 1.5 billion to support the digital transformation of the health system.
• A stronger focus on PPPs with a target share of private investments increasing from 40% to 65%.

About VISIOMED GROUP

Founded in 2007, VISIOMED GROUP relies on a long experience in the health sector to invest in innovative health technologies and services in France and abroad.

The Group now has two wholly-owned subsidiaries:

- BewellConnect, created in 2014, pioneer in connected health and teleconsultation solutions

BewellConnect offers an enriched technological universe, both in medical devices and software, making it possible to respond to all telehealth use cases: enriched and assisted teleconsultation, home telemonitoring, hospital monitoring, tele-expertise, teleassistance and tele-regulation.

BewellConnect's flagship product, VisioCheck, is the first telemedicine station weighing less than 300g for healthcare professionals, available in a case, station or modular health space. BewellConnect is now deploying its solutions in France and abroad.

- Smart Salem, the first digital medical analysis center accredited by the Dubai Ministry of Health (DHA) in the United Arab Emirates

The Smart Salem offer is based on know-how in medical analysis, radiology and data analysis and processing to detect nearly 35 diseases in 7 minutes in a patient (in particular HIV, hepatitis and tuberculosis) by offering reliable results, readability and exceptional patient experience enabled by advanced artificial intelligence and virtual reality technologies.

Smart Salem's “Medical Fitness Assessment” offer resulting from this know-how thus makes it possible to obtain a residence or work visa in the space of 30 minutes compared to 10 to 15 days in historical health centers. Smart Salem is a technological platform offering many growth opportunities, as shown by the opening of the second center in Dubai in September 2022 and the authorization received for the opening of a third center, planned to open in the first quarter of 2023.

Based in Paris, VISIOMED GROUP is listed on Euronext Growth (ALVMG). More information on www.visiomed-group.com, smartsalem.ae and www.bewell-connect.com.

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