Abraaj Group announced on Tuesday July 15, 2014 the acquisition of a majority stake, through its funds in the Polyclinic Taoufik SA.
A leader in the private equity operating in fast growing markets, the Group has chosen a leading private hospital in Tunisia.
With the financial and operational support of Abraaj, the direction of the Taoufik clinic has strengthen its position by increasing its capacity and adding new services. It also plans to modernize and renovate the establishment, and investing in human resources and training. To this end, and to implement its growth strategy, Abraaj intends to rely on its extensive experience in the health sector, acquired through investments in companies in the Middle East, North Africa and Turkey, which Acibadem, a leading group operating in the health sector in Turkey, Tunisia and Unimed Integrated Diagnostics Holdings in Egypt.
“Our investment in the Taoufik clinic marks our sixth investment in Tunisia and allows us to implement our strategy of acquiring robust and innovative companies in important sectors such as health. Through this investment, we support a company with high growth potential. With a population expected to reach 190 million by 2020 in North Africa, and life expectancy increased sharply, demand for quality health services will only grow, “says Ahmed Badreldin, Partner and Head the Middle East and North Africa within the Abraaj Group.
Meanwhile Adel Goucha, Director at The Abraaj Group, said that “the Taoufik clinic is regarded as one of the largest private institutions operating in the health sector in Tunisia; a sector which now accounts for about 7% of the Tunisian GDP, “adding,” We intend to work closely with the management of the clinic to implement its expansion plans and capitalize on the opportunities offered by this sector. ”
Leila Kefi , the Executive Director of the Taoufik clinic, has welcomed this new acquisition: “We are pleased to work with the team of Abraaj, which will help accelerate the growth of the Taoufik clinic and strengthen our leading position in the health sector. We believe that the strong Abraaj experience in this sector and in the region makes the ideal investor for us. ”
Let us remember that the Taoufik clinic, which is located in Tunis, was one of the first private health institutions created within the framework of the modernization of the health system efforts in Tunisia. It currently treats 75,000 inpatients and outpatients each year, offering services such as general surgery, heart surgery, neurosurgery and obstetrics. The company also offers an emergency department, a radiology center and a laboratory dedicated to the clinic’s patients.
The Taoufik clinic is a major private hospital in Tunisia in terms of sales and brand awareness. With 164 beds, the clinic is the second in terms of capacity.
With over 300 employees, Abraaj has over 25 offices in six regional centers in Istanbul, Mexico City, Dubai, Mumbai, Nairobi and Singapore. The Group currently manages $ 7.5 billion in over 20 geographical or sectoral funds, investing in privately held companies or in real estate.
Abraaj has refunded to investors about 4.3 billion US dollars from over 70 full and partial exits. The funds managed by the Group currently own interests in more than 140 partner companies operating in 10 sectors including consumer, energy, financial services, health and public services.
Furthermore, Abraaj has a strong history in terms of investment in Tunisian companies, with a portfolio that includes, among others, Moulin d’Or, a fast growing enterprise that specializes in industrial pastry; Unimed, a leading player in pharmaceuticals in sterile form; and Plastic Electromechanic Company (PEC), which specializes in plastic injection, assembling equipment and harnesses, and medical products.