Dubai: AVIVO Group, a health care services provider in the Gulf, said on Thursday that it has completed the purchase of a majority stake in KALIUM Group, which specialises in medical aesthetics.
The company told Gulf News by email that it paid “in excess of $90 million [Dh330 million]” for the purchase.
AVIVO Group said in a statement that it has received all the necessary regulatory approvals. With this acquisition, it increases its network to 43 health care entities in eight major cities in the Middle East and North Africa region.
Shailesh Dash, chairman of AVIVO Group, said in a statement that the move brings the company “closer to its impending IPO [initial public offering] plan.”
Established in 2006, KALIUM Group operates four premium medical aesthetic clinics in Dubai under Aesthetica & Dermalase brand. AVIVO Group has a presence in Abu Dhabi, Dubai, Sharjah and Kuwait.
“With this deal, AVIVO today has its footprint across the GCC Countries. We believe we can further expand the scope of Kalium Group while increasing our contribution to the medical tourism initiatives being undertaken by Dubai Healthcare City and Government of Dubai,” stated Amitava Ghosal, board member and chief executive of AVIVO Group.