Investment firm announces acquisiton of one of country's leading centres for implantology and dental surgery
Bahrain-based Investcorp has announced that it has established a platform to enter the highly fragmented German dental sector.
As its initial investment, Investcorp said it has acquired Privatzahnarztklinik Schloss Schellenstein (PSS), one of the leading centres for implantology and dental surgery.
PSS, which attracts both domestic and international patients and is based in North Rhine-Westphalia, employs around 40 people including dentists, dental nurses and technicians and is led by Professor Dr Fouad Khoury.
The deal follows Investcorp’s recent acquisition of Acura Kliniken, a licensed hospital in Albstadt, Germany.
Following the acquisition of PSS, the platform intends to make further investments in the German dental market as part of a wider consolidation strategy, Investcorp said in a statement.
Mohammed Al-Shroogi, Investcorp’s co-CEO, said: “We are very excited about this platform investment in Germany which is one of our core markets in Europe. Having followed the development of the retail healthcare sector for a number of years, we believe now is the right time to invest in this sector in Germany.
"We are excited about the potential to build a sizeable dental business in Germany through a buy-and-build strategy and our acquisitions of PSS and Acura Kliniken are ideal starting points to launch this initiative. We look forward to partnering with further dental practices, both large and small, in the coming months."For all the latest banking and finance news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.