International SOS increases investment in North Sea oil and gas medical services

Source: press release, 24 October 2019

photo: Iqarus
photo: Iqarus

International SOS, a global medical and security risk services company, has increased its investment in Iquarus.

International SOS, which previously had a minority stake in Iqarus through a joint venture, is becoming the majority shareholder and taking sole ownership of the business in Aberdeen. It is also increasing its investment in Iqarus’ Global Health Services business in Dubai.

Michael Gardner, CEO Medical Services at International SOS comments, “The joint venture with Iqarus has successfully developed and grown both businesses since 2017, and we are now moving forward into a new closer relationship. Under sole ownership, International SOS will continue our strong commitment to driving forward the Aberdeen centre of excellence and innovation in offshore occupational healthcare. This successfully strengthens local capability and global support for Northern Seas clients in the oil and gas industry. International SOS is committed to growing its Medical Services business in the extractive and other industries from its current 1,000 sites in 90 countries worldwide.”

Tim Mitchell, CEO of Iqarus, comments, “From Dubai, Iqarus will continue to work in close partnership with International SOS to deliver pioneering solutions that enable supranationals, Governments, IGOs, militaries and NGOs to operate in the world’s most difficult and challenging environments. We will also continue the progress we have made in developing innovative public private healthcare initiatives to address healthcare needs in geographic markets newly opened to the global economy. This evolution of our joint venture partnership will accelerate the already rapid development of the Iqarus business going forward.”