Dubai: The DFM-listed Dubai Investments is further adding to its healthcare interests, with a 34.3 per cent stake purchase in Global Fertility Partners (GFP), which has a network of fertility and reproductive genetics centers in the Middle East.
GFP secured around $60 million in equity financing, giving it the 'backing required to expand its network of fertility and women’s health centres across MENA'.
"GFP aims to create the leading fertility network in the region - and one of Top 10 globally," said the statement.
According to Dubai Investments’ Vice-Chairman and CEO, Khalid Bin Kalban said, “Investment in Global Fertility Partners marks Dubai Investments' fourth strategic investment in the healthcare sector, a pivotal move in the Group’s ongoing diversification strategy."
Dubai Investments is a major shareholder in the pharmaceutical firm Globalpharma. (Real estate and financial services have been the other sectors where the investment company has been busy.)
Where will GFP expand?
The initial focus is on Saudi Arabia, where the network will 'deliver multiple benefits for patients including the introduction of new technologies faster and on a larger scale'. And bring treatment costs down.
The GFP flagship facility in Riyadh is under construction and will start operations later this year. "This funding will allow us to move quickly and build a strong foundation for perpetual growth," said Majd Abu Zant, Global Fertility Partners' founder and CEO. (The funding round has also brought in institutional investors and family offices from Saudi Arabia and the UAE alongside Dubai Investments.)
Across the UAE and Gulf, investments into healthcare have been seeing an exponential increase, with the emphasis clearly on specialist services rather than on new greenfield hospital projects.
Through GFP, "Dubai Investments is excited to partner with a committed team of seasoned experts in the field of fertility," said Bin Kalban. "Focus on this sector stems from a profound belief in its potential as a promising and lucrative segment for investments.
"Dubai Investments will support GFP's ambitious growth plans by leveraging synergies and solidifying the Group’s dedication to shaping the future of healthcare investments."
Kings College Hospital London, Dubai: This is a multi-disciplinary hospital with two family clinics in Dubai. Dubai Investments owns a 27% stake in Kings College Hospital London, Dubai, a joint venture with Al Tayer Group, and UK-based Ashmore Group.
Clemenceau Medical Centre Dubai: A multi-disciplinary specialty care facility, it is part of the Clemenceau Medicine Network of hospitals, affiliated with John Hopkins Medicine International. Dubai Investments holds a 20% stake in Clemenceau Medical Centre, Dubai.
