Bahrain-based alternative investment firm GFH Financial Group has acquired a 60% stake in the UAE-based Multi-Speciality Healthcare Partner Holding Ltd (MSH) for over $100 million.
GFH’s healthcare arm Healian, a regional investment vehicle that focuses on investing in high-quality assets that provide quality healthcare in underserved areas, will manage the new investment.
MSH is perhaps the only diversified multi-speciality healthcare chain in Abu Dhabi and Al Ain in the UAE, having 19 clinics and two pharmacies. It also operates in Sharjah and Dubai.
MSH focuses on specialities like dental care, beauty care (cosmetic and dermatology), dental labs, primary medical centres, women care centres and outpatient rehab centres.
“MSH is well-aligned to Healian’s criteria, combining a solid mix of stable, cash generative businesses such as its cosmetics and dental practices, while providing a foothold in segments that are ramping up growth including multi-specialty and rehab providers,” said Sameer Azam, director of private equity at GFH.
“These are the types of unique opportunities we are looking to bring to our shareholders in defensive, growth sectors that will continue to go from strength to strength.” Azam said, adding that GFH will expand its investments in the healthcare sector across the GCC including Saudi Arabia and the UAE.
GFH is one of the most active financial groups in the Gulf region in terms of dealmaking. Its businesses include asset management, wealth management, commercial banking and real estate development.
It manages a portfolio of global real estate assets valued at more than $2 billion. This includes assets in industry segments including logistics, technology, student housing, healthcare and multifamily residential.
While most of GFH’s deals in 2021 have been in the real estate sector, it has also sealed a handful of transactions in other sectors such as financial services and education. These include buying a 70% stake in the British International School of Tunis in Tunisia’s capital in June this year.