- Collaboration will leverage the exchange of expertise, develop innovative supply-chain models, and assess technology-driven solutions to improve product availability
- Strategic partnership underscores broader commitment to existing GCC-LatAm investment flows and supporting Vision 2030 initiatives
RIYADH, Saudi Arabia, Oct. 29, 2025 /PRNewswire/ — Grupo Elfa, a leading Brazilian healthcare services company majority-owned by investment funds managed by Patria Investments and the National Unified Procurement Company of Saudi Arabia (NUPCO), have announced the signing of a Memorandum of Understanding (MoU) at the Global Health Exhibition in Riyadh.
By signing a two-year framework for strategic cooperation, the agreement will contribute to Saudi Arabia’s healthcare ecosystem by introducing advanced AI technologies, ensuring knowledge exchange, developing innovative supply-chain models, and assessing novel technologies to enhance product availability. This will enable shorter lead times, and drive cost efficiency across the Kingdom’s healthcare sector.
The MoU focuses on exploring joint opportunities in healthcare procurement, logistics, and digital efficiency, with an initial emphasis on the direct sourcing of medical disposables. NUPCO, as the national healthcare procurement and distribution hub, provides unparalleled access to an extensive network of hospitals, pharmacies, and warehousing infrastructure across Saudi Arabia. This partnership will connect NUPCO to Grupo Elfa’s trusted global supplier network, diversifying sourcing channels and strengthening the resilience of the national supply chain.
Fahad AlButhi, Chief Operating Officer of NUPCO, commented: “This strategic cooperation with Grupo Elfa underscores our commitment to strengthening the national healthcare supply chain, aligning with Vision 2030’s national objectives. By integrating Grupo Elfa’s advanced capabilities and global network, we aim to further optimize our procurement processes, enhance logistics, and strengthen access to healthcare services for all citizens and residents of Saudi Arabia.”
This partnership highlights Patria’s strategic commitment to fostering long-term relationships between Latin America and the Kingdom of Saudi Arabia. Through its collaboration with the Public Investment Fund (PIF), Patria reinforces its dedication to driving growth in key sectors such as healthcare. This alliance not only supports the objectives of Saudi Arabia’s Vision 2030 but also strengthens investment flows between the GCC and Latin America, paving the way for deeper economic integration and sustainable development.
This collaboration directly aligns with Saudi Arabia’s Health Sector Transformation Program, a cornerstone of Vision 2030, which focuses on a healthcare ecosystem that is comprehensive, effective and integrated. By fostering innovation in healthcare procurement and logistics, the partnership will contribute to improving the quality of care, enhancing patient outcomes, and ensuring the long-term availability of strategic medical products for the Saudi population.
Carmen Alonso, Partner & CEO Europe and Middle East, Patria Investments, commented: “Patria has ties with the region since 1997. Healthcare is a key sector in Patria’s portfolio, and a sector where we believe there is further opportunity. We combine profound sector expertise and invaluable local insights to develop a broad spectrum of bespoke investment options, a client-centric approach that is the cornerstone of our achievements.”
Michael Majdalany, Managing Director of Middle East, Patria Investments, said: “We’re thrilled to see this partnership come to life. What began last year with a shared commitment to deepen ties with the Kingdom has now led to our first initiative and I would like to thank PIF’s National Development Division for all its support. It’s a strong step forward in strengthening GCC–LatAm relations and supporting Vision 2030.”
Jose Roberto Ferraz, CEO of Grupo Elfa, commented: “We are excited to partner with NUPCO, a pivotal entity in Saudi Arabia’s healthcare landscape. This MoU represents a significant step in bringing Grupo Elfa’s proven operational expertise, AI-driven efficiencies, and trusted global supplier partnerships to the Kingdom. Our goal is to provide high-quality medical products and ensure the long-term sourcing of strategic supplies, contributing directly to the Kingdom’s healthcare transformation.”
Grupo Elfa will serve as a strategic supplier and distributor, bringing its proven operational excellence and extensive experience in healthcare supply and logistics. Grupo Elfa has direct access to supply capabilities through the acquisition of Descarpack in 2022, also a leading Brazilian provider of high-quality disposable medical products (gloves, masks, gowns, syringes).
With one of Brazil’s most comprehensive and reliable healthcare distribution networks, serving thousands of hospitals and clinics, Grupo Elfa offers a scalable model combining efficiency, reach, and compliance. A key differentiator is Grupo Elfa’s advanced AI-driven procurement technology, which enhances efficiency, traceability, and demand forecasting, ensuring a reliable and high-standard supply of medical products. Grupo Elfa’s automated sales currently account for over 15 per cent of its total, handling more than 30,000 procurement interactions daily.
Beyond logistics and transport services, Grupo Elfa delivers comprehensive healthcare solutions, ranging from the distribution of highly complex pharmaceuticals and hospital supplies to advanced medtech solutions, specialty pharmacies, and aesthetic injectables. The group also manages end-to-end hospital logistics, including customised inventory management, product repackaging, and warehousing services — and stands as the only major distributor in Brazil operating simultaneously in the medical-hospital and dental sectors.
About NUPCO
The National Unified Procurement Company for Pharmaceuticals, Medical Devices, and Supplies (NUPCO), a subsidiary of the Public Investment Fund (PIF), leads medical supply chain management in the Kingdom of Saudi Arabia. Established in 2009, NUPCO aims to improve healthcare sector efficiency through unified procurement, inventory management, distribution, and integrated logistics services. The company delivers innovative solutions that advance the Kingdom’s healthcare system and help achieve the highest standards of care.
About Patria
Patria is a global alternative asset management firm focused on the mid-market segment, specialising in resilient sectors across select regions. We are a leading asset manager in Latin America and have a strong presence in Europe through our extensive network of General Partners relationships. Our on-the-ground presence combines investment leaders, sector experts, company managers, and strategic relationships, allowing us to identify compelling investment opportunities accessible only to those with local proficiency. With 37 years of experience and over $49 billion in assets under management, we believe we consistently deliver attractive returns through long-term investments, while promoting inclusive and sustainable development in the regions where we operate. Further information is available at www.patria.com.
About Elfa
Elfa operates one of the most extensive and reliable healthcare distribution networks in Brazil, serving 3 thousand hospitals, 40 thousand clinics and 120 HMOs. Elfa operates 18 distribution centers with 100% national reach in Brazil. Our portfolio includes both reference and generic high-cost drugs, beyond that, we operate aesthetics injectable products, materials and consumables used by dentists, medtech, disposable materials and logistics services as warehousing, transportation and Patient Support Program.
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