GlobeMed Saudi

What GlobeMed Saudi does

GlobeMed Saudi is a healthcare benefits management company operating as a Third-Party Administrator (TPA) for health insurance in the Kingdom of Saudi Arabia. Incorporated in 2004 and headquartered in Riyadh with branch offices in Jeddah and Dammam, it was the first TPA licensed by the Saudi Central Bank (SAMA) in 2008 and is a franchisee of GlobeMed Group, a regional operator with presence across 12 MENA countries. The company serves 9 payer clients — 1 public-sector entity, the Center for National Health Insurance (CNHI), and 8 private-sector insurers including Salama, Saudi Enaya, Amana, Arabia, Walaa, Mutakamela, Orient, Al-Etihad, and Allianz Saudi Fransi — administering benefits for more than 3.9 million insured members through a contracted network of 4,100+ domestic healthcare providers and 120,000+ international providers accessed via the GlobeMed Group partnership.

The company's product portfolio centers on a proprietary healthcare benefits management platform that integrates policy administration, claims processing, network management, and utilization review. Core technology components include the ARC rules engine (an expert system automating up to 80% of outpatient coverage decisions and supporting fraud, waste, and abuse detection), a home-grown Pharmacy Benefits Management (PBM) module with e-prescription, e-dispensing, drug utilization review, and SFDA/NPHIES code mapping, full integration with Saudi Arabia's National Platform for Health Insurance Exchange and Statistics (NPHIES), an automated cross-border service providing instant coverage decisions across international providers, and member/provider-facing tools such as the GlobeMed FIT mobile app and i*Care portal. Add-on services include the Aurum VIP program, Prestigious Care, International Health Services, an Access-to-Platform licensing product, and a Medical Coding Training Program. The company employs approximately 270 dedicated team members and maintains 13 field offices at key hospitals with a 24/7 bilingual contact center.

GlobeMed Saudi generates revenue through B2B contract-based fees charged to insurance companies and government entities for TPA services, with pricing negotiated per multi-year contract and not publicly disclosed. Revenue streams include full-service TPA administration (managed services), PBM (subscription/recurring), Access-to-Platform (platform licensing), and Medical Coding Training (professional services). Distribution is exclusively enterprise-direct to payers; the company distributes self-service tools (GlobeMed FIT, i*Care portal) to the 3.9M insured members and 4,100+ providers within its network as part of the underlying service, not as standalone consumer products.

Name

GlobeMed Saudi

Legal name

GlobeMed Saudi

Website

https://globemedsaudi.com

Company type

Private

Founded year

2004

Operating status

Operating

Headcount range

251–500 employees

Short description

GlobeMed Saudi is a healthcare Third-Party Administrator (TPA) serving 9 payers (1 public-sector CNHI plus 8 private-sector insurers) in Saudi Arabia, administering benefits for 3.9 million insured members through a network of 4,100+ providers using its proprietary ARC adjudication engine and home-grown PBM platform.

Ownership category

akta.pro rank

Product category

Healthcare Benefits Administration

NAICS

Pharmacy Benefit Management and Other Third Party Administration of Insurance and Pension Funds (524292)

SIC

Hospital & Medical Service Plans (6324)

akta.pro primary industry

Ancillary Benefits TPA (Dental/Vision/Life/Accident/Critical Illness) (HLAEALAN)

akta.pro secondary industry

Individual Health Insurance Administration (TPA/ASO) (FSAIAEAK)

Keywords

• Healthcare benefits management
• Third-party administration
• Claims management
• Pharmacy benefits management
• Health insurance administration

Headquarters

HQ city

Riyadh

HQ country

Saudi Arabia

HQ region

Middle East

Offices3 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Technology or R&D, Operations, Marketing or Sales, Infrastructure

Revenue model

1. Third-Party Administration (TPA) Services: Full-service TPA offering including policy management, claims processing, network management, and utilization management for insurance companies and government health authorities. Revenue is generated through service fees charged to payers (insurance companies and government entities) for administering their health benefits programs.
2. Pharmacy Benefits Management (PBM): Standalone or integrated pharmacy claims management solution. Offered as a module under the full healthcare benefits management services or as a standalone platform. Includes drug utilization review, formulary management, and clinical programs.
3. Access to Platform: Payers can adopt an in-house TPA model where services are managed by the payer's human capital while utilizing GlobeMed modules and automated features. Revenue generated through platform licensing and support fees.
4. Medical Coding Training Program: Training program for medical coding skills, originally launched in Lebanon in 2002 in collaboration with Saint-Joseph University and expanded to Qatar. Revenue generated through training fees.

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels7 records

Core offering

GlobeMed Saudi is a Third-Party Administrator (TPA) that provides end-to-end healthcare benefits management services to insurance companies (payers) and government health authorities in Saudi Arabia. Its core offering covers policy administration, claims processing and adjudication, provider network management, pharmacy benefits management, medical audit, data analytics, and customer service, all powered by a proprietary rules engine (ARC) and integrated with Saudi Arabia's NPHIES platform.

Product overview

GlobeMed Saudi operates as a healthcare benefits management Third-Party Administrator (TPA) offering a comprehensive platform of services rather than a single software product. The core offering consists of Healthcare Benefits Management (TPA services) as the primary platform, supplemented by specialized modules including Pharmacy Benefits Management (a home-grown PBM solution), International Health Services, Access to Platform (for payers wanting in-house TPA capabilities), and Medical Coding Training Program. The portfolio also includes branded self-service tools: GlobeMed FIT (mobile app for insured members) and i*Care Portal (for healthcare providers). Add-on VIP programs include Aurum and Prestigious Care. The services utilize an expert rules engine (ARC) for automated claims adjudication, fraud detection, and data analytics capabilities.

Differentiator

Problem solved

Functional benefit

Brands

• GlobeMed FIT: Self-service health insurance mobile application and digital wellness tool allowing insured members to manage claims, locate healthcare providers, and access policy details.
• Aurum Program
• Prestigious Care
• i*Care

Products and services

• Healthcare Benefits Management

Quantifiable outcome

• 80% of outpatient coverage decisions automated
• +3 more outcomes

Named customers10 records

Segments4 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration2 records

AI capability4 records

Feature6 records

Partnerships

Six partnerships are on record, tiered core, strategic and supporting.

• Al-Etihad Cooperative Insurance CompanycoreStrategic or Co-development Partner · 1 June 2026TPA agreement effective July 1, 2026 offering Al-Etihad insured members seamless access to quality care services through GlobeMed Saudi's network of 4,200+ healthcare providers across hospitals, pharmacies, laboratories, medical complexes, and physical therapy centers.
• Orient Insurance Company (Saudi Branch)coreStrategic or Co-development Partner · 1 May 2025Collaboration effective May 2025 enabling Orient Insurance's insured members to access GlobeMed Saudi's network of 3,800+ healthcare providers including hospitals, pharmacies, diagnostic centers, and specialty clinics. GlobeMed operates 13 field offices for seamless member support.
• TachyHealthstrategicTechnology or Integration · 1 June 2024GlobeMed Saudi and TachyHealth, an AI healthcare solutions provider, announced a strategic partnership to optimize healthcare benefits management in Saudi Arabia through innovative technology. The partnership combines GlobeMed's 20+ years of experience in healthcare benefits management with TachyHealth's AI algorithms and machine learning capabilities to enhance claims processing and authorization workflows.
• Allianz Saudi Fransi Cooperative Insurance CompanycoreStrategic or Co-development Partner · 1 April 2023Cooperation agreement effective April 2023 enabling Allianz Saudi Fransi's insured members to access GlobeMed Saudi's provider network of 3,300+ healthcare providers across the Kingdom, with field office support and 24/7 bilingual contact center services.
• Saint-Joseph University (Lebanon)supportingStrategic or Co-development Partner · 1 January 2002Medical Coding Training Program was initially launched in Lebanon in 2002 in collaboration with Saint-Joseph University, one of the most respectable educational institutions in the Middle-East. The program was later expanded to Qatar in 2014 where the Ministry of Public Health appointed GlobeMed as the exclusive training vendor for ICD-10-AM.
• Ministry of Public Health (Qatar)supportingStrategic or Co-development PartnerIn 2014, Qatar's Ministry of Public Health appointed GlobeMed as the exclusive training vendor for ICD-10-AM medical coding training, expanding the Medical Coding Training Program beyond Lebanon.

Scale indicators9 records

Recent moves5 records

Expansion highlights5 records

Regional players

• Bupa Arabia: Bupa Arabia is a leading Saudi health insurance cooperative and one of GlobeMed Saudi's largest private-sector payer clients. Comparable as a regional player that both competes for health insurance administration work and is itself a buyer of TPA services from GlobeMed Saudi.

Direct peers

• Now Health International: Now Health International is a global health insurance and TPA provider offering cross-border coverage and provider network access for expatriates and internationally mobile individuals. Comparable to GlobeMed Saudi's International Health Services and Automated Cross-Border offerings, both targeting insured members with multi-country coverage needs.
• NextCare: NextCare is a MENA healthcare management company providing third-party administration, claims processing, and managed care services to insurers and corporates. Comparable to GlobeMed Saudi in serving insurance clients with TPA, network management, and utilization management across the region.
• MedNet: MedNet is a leading MENA-based third-party administrator offering health insurance management, claims processing, and provider network access across the region. Directly comparable to GlobeMed Saudi as a TPA serving insurance companies with similar member administration, provider network, and claims adjudication offerings.
• GlobeMed Lebanon: GlobeMed Lebanon is a sister franchisee of GlobeMed Saudi under GlobeMed Group, offering TPA, PBM, and healthcare benefits management services in Lebanon. Operates the same ARC rules engine and product portfolio, making it a directly comparable regional franchise peer.
• GlobeMed Qatar: GlobeMed Qatar is a sister franchisee of GlobeMed Group offering TPA and PBM services in Qatar. Shares the same technology platform and operating model as GlobeMed Saudi, with Qatar's Ministry of Public Health having appointed it as the exclusive ICD-10-AM training vendor.

Broad incumbents

• Cigna Healthcare: Cigna is a global health services company offering insurance, TPA-like administration, PBM (via Express Scripts), and international health coverage. Comparable to GlobeMed Saudi as a broad incumbent offering overlapping health benefits administration, cross-border provider access, and pharmacy management at global scale.
• Sedgwick: Sedgwick is a global leader in claims management, managed care, and loss adjusting services for insurers, employers, and TPAs. Comparable to GlobeMed Saudi as a broad incumbent in healthcare/insurance claims administration with overlapping claims adjudication and utilization management capabilities.
• GlobeMed Group: GlobeMed Group is the parent franchisor of GlobeMed Saudi, operating healthcare benefits management franchises across 12 MENA countries with 35+ years of experience. Comparable as the broader operating platform that defines GlobeMed Saudi's technology, brand, and operating standards.
• AXA (Global Health): AXA is a global insurer with health lines offering insurance and administrative services for healthcare benefits worldwide. Comparable to GlobeMed Saudi as a broad incumbent with overlapping health insurance administration, provider network management, and cross-border coverage capabilities.

Market position

Strengths1 record

Weaknesses1 record

Competitive moat6 records

Key risks5 records

Key highlights6 records

Customer concentration

• Xx.com/GlobeMed_Saudi
• Facebookfacebook.com/GlobeMedSaudiArabia
• LinkedInlinkedin.com/company/globemed-saudi
• Instagraminstagram.com/globemedsaudi

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about GlobeMed Saudi