News Ticker

Abraaj takes majority stakes in Al Kindy and Menara

The Abraaj Group announced two healthcare sector acquisitions last week, both made through the $375 million Abraaj North Africa Fund II, the private equity firm’s second generation North African fund which closed in August 2015. The deals, the terms of which remain undisclosed, involve the fund taking majority stakes in both companies; the first, Centre de Traitement Al Kindy, is the largest private oncology clinic in Casablanca, while the second, Clinique Spécialisée Menara, is a leading oncology and diagnostics imaging center in Marrakech.

Together, Al Kindy and Menara form the largest integrated network of imaging diagnostic and cancer treatment centers in Morocco, and, by the end of 2015, are expected to have treated 10,000 patients between them. Morocco reports between 30,000 to 40,000 new cancer cases each year, all demanding treatment and care from quality cancer treatment centers.  The newly-formed network’s growth strategy to meet the demand is anticipated to include partnerships with both international and domestic oncology and diagnostic imaging centers.

Commenting on the deal, Anas Guennoun, Director at The Abraaj Group said “Our investment into Al Kindy and Menara is focused on the need to provide better quality cancer treatment facilities in Morocco. Over the years, we have seen a rise in the incidence of non-communicable diseases, especially cancer, alongside a shortfall of quality Moroccan healthcare systems to treat such conditions. Al Kindy and Menara have excellent reputations in the market, with an experienced medical team, strong partnerships with state and private insurance companies, and the capacity to further grow services and facilities to provide outstanding patient care.”

Abraaj has deployed almost $1 billion in capital in healthcare investments across the regions it invests n since 2003. The Al Kindy and Menara deals are the private equity firm’s twenty-seventh healthcare transaction globally, and the Group’s eighth healthcare investment in North Africa. In March this year, Abraaj invested $145 million to set up North Africa Hospital Holdings, a $200 million healthcare group focused on Egypt and Tunisia.

1 Trackbacks & Pingbacks

  1. Weekly Wrap, November 9th, 2015; Abraaj, Atlas Mara, Silvertree and others make private capital news last week | Africa Capital Digest

Leave a comment

Your email address will not be published.


*