By Sam Bridge
IVI-RMA Middle East clinics to increase three-fold over next three years while new genetics lab will be established in Abu Dhabi
Abu Dhabi-based Gulf Capital on Tuesday announced its three-year growth plans for IVI-RMA Middle East, the fastest growing provider of fertility treatment services in the GCC, following its acquisition for over $100 million.
Gulf Capital said in a statement that it is actively targeting investments within the fast growing and defensive healthcare sector and has identified the fertility sub-sector as a key focus priority, given its expected double-digit growth rates across the region.
With increased awareness coupled with the technological advancements in the field, the fertility sector in the GCC is forecast to continue to grow at 15 percent annually over the next five years.
Launched in early 2016, IVI-RMA Middle East has established itself as the fastest growing IVF service provider in the UAE and Oman with over 1,200 pregnancies in less than four years.
The new growth plan will see the launch of a new platform-wide brand identity in 2020, the inauguration of a state-of-the-art genetics lab in Abu Dhabi, and expanding the number of clinics by more than three-fold to nine clinics taking the provider to new markets in the Middle East, Asia and Europe.
The company and Gulf Capital will also be opportunistically looking at acquisitions in other geographies, the statement said.
Dr Karim El Solh, CEO of Gulf Capital, said: “We are thrilled to back the strongest management and medical team within the IVF sector regionally. This transaction exemplifies Gulf Capital’s tried and tested strategy of acquiring controlling stakes in market leading companies in high growth sectors."
Dr Human Fatemi, medical director for IVI-RMA Middle East, added: “Over the past few years, the uptake of assisted reproduction methods to conceive has increased exponentially in the GCC, especially among the urban population. Infertility in the Middle East has been on the rise due to the ever-evolving lifestyle patterns and other disorders. However, most of the treatment protocols are based upon western treatment plans.
"While the IVF market in the GCC is growing rapidly, there is a clear need to address issues like standardised clinical protocols, structured training, genetic laboratories and ethical practices.
"It has been our constant endeavour to assist more and more couples to fulfill their dream of starting a family by providing the most advanced fertility treatments in accordance with international guidelines, coupled with the right technology. Our partnership with Gulf Capital shall help us offer our services to an even broader segment of the population.”