The Abraaj Group Invests In Leading Tunisian Private Hospital, Clinique Taoufik
· Abraaj brings significant pan-regional healthcare experience and a growing investment track record in Tunisia
· Investment will increase patient capacity and add new services
Tunis, Tunisia, 14 July 2014: The Abraaj Group ('Abraaj' or 'The Group'), a leading investor operating in global growth markets, today announced the acquisition of a majority stake, through its Funds, in Polyclinique Taoufik S.A. ('Clinique Taoufik' or 'the company'), a leading private hospital in Tunisia.
Based in Tunis, Clinique Taoufik was one of the first private healthcare institutions established as part of efforts to modernize 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 center and laboratory dedicated to patients of the hospital.
Clinique Taoufik is a leading private hospital in Tunisia in terms of brand recognition and revenue. 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.
To implement its growth strategy for Clinique Taoufik, Abraaj 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, a leading healthcare group in Turkey, Unimed in Tunisia and Integrated Diagnostics Holdings in Egypt.
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.'
Adel Goucha, Director at The Abraaj Group, added: 'Clinique Taoufik is well-positioned as one of the leading private hospitals in the Tunisian healthcare sector, an industry which made up almost seven per cent of GDP last year. We look forward to working closely with the clinic's management to implement its expansion plans and capitalize on the growing market opportunities this sector presents.'
Leila Kefi, Chief Executive Officer of Clinique Taoufik, said: '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.'
Abraaj has a strong track record of investing in Tunisian companies, with its portfolio including Moulin d'Or, a highly successful baked goods company; Unimed, a leading player in sterile form pharmaceutical products; and Plastic Electromechanic Company (PEC), which specializes in plastic injection, the assembly of electrical equipment and harnesses, and medical products.
About THE ABRAAJ GROUP
The Abraaj Group ('Abraaj' or 'the Group') is a leading private equity investor, purpose-built for operating in the growth markets of Africa, Latin America, the Middle East, South Asia, South East Asia, Turkey and Central Asia.
Employing over 300 people, Abraaj has over 25 offices spread across six regions with hubs in Istanbul, Mexico City, Dubai, Mumbai, Nairobi and Singapore. The Group currently manages US$ 7.5 billion across more than 20 sector and country-specific Funds, encompassing private equity and real estate investments.
Abraaj has returned c. US$ 4.3 billion to investors from over 70 full and partial exits, and Funds managed by the Group currently have holdings in over 140 partner companies across 10 sectors including consumer, energy, financials, healthcare and utilities.
The Group is committed to the highest environmental, stakeholder engagement and corporate governance standards and is a signatory to the United Nations-backed Principles for Responsible Investment and the United Nations Global Compact. Abraaj's founder, Arif Naqvi, was appointed to the United Nations Global Compact Board by UN Secretary-General Ban Ki-moon in 2012.
This publication is issued by Abraaj Capital Limited ('ACLD' or the 'Firm'), a member of The Abraaj Group that is authorised and regulated by the Dubai Financial Services Authority ('DFSA'). Several Group members are regulated by a number of international regulatory authorities including the DFSA under whose rules ACLD has issued this publication.
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