Global Investment House unit says sale to Investcorp and Boubyan Petrochemical Co 'will finance growth plans'
Global Investment House said on Monday that its Elaj Group unit has concluded partial divestment from Al Borg Medical Laboratories Limited to Investcorp and Boubyan Petrochemical Company.
Al Borg is the largest chain of private laboratories in the Middle East and North Africa region, according to its website, with 26 laboratories in Saudi Arabia, four in the UAE, two in Qatar, and one each in Bahrain, Kuwait, Oman and Ethiopia.
It provides diagnostic tests primarily in the areas of clinical pathology, molecular biology and genetics.
Al Borg is part of Elaj Group, which is owned by Dr Mohamed Amin and was established in 1994.
Ahmed Mahmoud Abdullah, board member at Elaj Group, said: “The transaction was important to realise value and finance the growth plans for Elaj Group.”