Who Are We?
MedFormatix is Saudi owned limited liability company registered in Riyadh, located in Al-Nemer Center (2), office 512, Olaya district. The company was established in 2001 to transfer knowledge and standardize the health insurance market in the Kingdom and its surrounding Gulf and Middle Eastern countries.
MedFormatix Shareholders include distinguished healthcare, business, and technology professionals, as well as members of prominent Saudi business families; its Board of directors is led by Badr Al-Badr, who holds PhD in computer science and an exceptional corporate experience managing Cisco Systems in KSA, as well as major internet, communication, and hospitality companies.
To build health/insurance solutions that enhance
To apply successful business/product development
Partnered with a leading U.S. health insurance technology company and customized their software program to fit the Saudi market needs.
Established Waseel Company in in partnership with NCCI (Al-Tawuniya today), which standardized the health insurance transactions in the Saudi market.
Supported a governmental committee in selecting the Australian clinical classification system for unified use in the kingdom, by providing a comparative study of available clinical classification systems.
MedFormatix initiative of an integration tool. Although it was a simple integration program that was not adopted by Waseel at the time, it was later used as a starting point for Waseel integration developments.
Signed a strategic partnership agreement with the Australian Health Information Management Association (HIMAA) to deliver clinical coding training in the region.
Established the Excellence company, which provides training services in the domains of health insurance, management, and information management, relevant to services provided by Waseel
We are nurturing this culture of innovation by building a platform that facilitates introducing of new successful ventures to create value and transform the healthcare/insurance industries.