NBK Capital acquires stake in Kuwait healthcare firm

Deal with Elaj Services marks Kuwait firm’s second healthcare deal in two years
NBK Capital acquires stake in Kuwait healthcare firm
The fund acquired a 30 percent stake in Turkish healthcare firm DunyaGoz Group in 2010
By Claire Ferris-Lay
Sun 05 Jun 2011 04:47 PM

The
private equity arm of the NBK Capital has acquired a substantial stake in
Kuwait-based Elaj Services (Taiba Hospital), its second investment in a
healthcare firm, the company said on Sunday.

The
investment was made through the Kuwait Investment Opportunities Fund, a $125m
private equity fund that focuses on opportunities in the Gulf state. NBK did
not confirm the size of the deal.

The
hospital, which has the capacity to treat over 700 patients a day, is the
largest healthcare platform in the area, said NBK Capital in a statement. The
firm plans to use the deal as a springboard to grow the hospital in Kuwait.

“The
investment will be used to increase the hospital's presence in Kuwait, through
the establishment of new clinics and the development of a state of the art
facility adjacent to the current hospital,” the company said.

The fund
acquired a 30 percent stake in Turkey-based DunyaGoz Group, the country’s largest
ophthalmology hospital chain, in June 2010.

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