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Mon 14 Jul 2014 01:54 PM

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Dubai's Abraaj buys majority stake in Tunisian hospital

Investment firm says it has agreed deal for stake in 164-bed Clinique Taoufik; plans to expand services

Dubai's Abraaj buys majority stake in Tunisian hospital

Dubai-based investment firm The Abraaj Group on Monday announced the acquisition of a majority stake in Polyclinique Taoufik, a private hospital in Tunisia.

Based in Tunis, Clinique Taoufik was one of the first private healthcare institutions established as part of efforts to modernise Tunisia's healthcare system.

The hospital currently treats 75,000 in- and out-patients per year, offering services such as general surgery, heart surgery, neurosurgery and obstetrics. The company also has an emergency service, a radiology centre and laboratory dedicated to patients of the hospital.

With 164 beds, the hospital is the second largest in terms of bed capacity.

"With Abraaj's financial and operational support, it aims to consolidate this position by further increasing patient capacity and adding new services, upgrading and renovating the hospital, and investing in human resources and training," a statement said.

Abraaj said it will draw on its extensive experience in the healthcare sector, gained from investing in businesses across the Middle East, North Africa and Turkey, including Acibadem, Unimed and Integrated Diagnostics Holdings.

Ahmed Badreldin, partner and head of Middle East and North Africa at The Abraaj Group, said: "Our investment in Clinique Taoufik marks our sixth investment in Tunisia and enables us to execute our wider strategy of acquiring robust and innovative businesses in critical sectors such as healthcare.

"We are backing a company with strong growth potential as the North African population is expected to reach 190 million by 2020, with life expectancy also on the rise, contributing to increasing demand for quality healthcare services."

Leila Kefi, CEO of Clinique Taoufik, added: "We are excited to partner with the Abraaj team, who will help to accelerate Clinique Taoufik's growth, and further build on our leading position in the healthcare delivery sector. We are confident that Abraaj's strong experience in the healthcare industry and wider region make them the ideal investor for us."

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