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Gulf Capital acquires
IVI-RMA’s Middle Eastern IVF
fertility operation for over
US$ 100 million
(Dubai, UAE) -
Gulf Capital, one of the
largest and most active
alternative asset managers
in the Middle East,
announces its three-year
growth plans for IVI-RMA
Middle East, the fastest
growing provider of
fertility treatment services
in the GCC, following its
acquisition of 100% of its
stake for over US$ 100
million. The transaction is
a corporate carve-out of the
Middle Eastern clinics of
IVI-RMA, the largest IVF
service provider globally,
and continues Gulf Capital’s
strategy of acquiring
controlling stakes in market
leaders.
Gulf Capital is actively
targeting investments within
the fast growing and
defensive healthcare sector
and has identified the
fertility sub-sector as a
key focus priority, given
its expected double-digit
growth rates across the
region. With increased
awareness coupled with the
technological advancements
in the field, the fertility
sector in the GCC is
forecasted to continue to
grow at 15%+ CAGR annually
over the next 5 years.
Launched in early 2016,
IVI-RMA Middle East has
established itself as the
fastest growing IVF service
provider in the UAE and
Oman, growing at a 50% CAGR
since inception, on the
strength of very high
success rates relative to
industry peers. With over
1200+ pregnancies in less
than four years, the
provider’s success is driven
by the scientific and
personalized approach of a
highly skilled medical team.
With a focus on original
research and publications,
IVI-RMA Middle East has
achieved the highest success
rates in the region, with
pregnancy and live birth
rates that position it
within the top-quartile
globally. Gulf Capital will
back the existing management
team to continue to deliver
best in class treatment and
success rates and to roll
out operations across the
region.
The new chapter of IVI-RMA
Middle East will see the
implementation of an
ambitious three-year plan.
The plan will see the launch
of a new platform-wide brand
identity in 2020, the
inauguration of a
state-of-the-art genetics
lab in Abu Dhabi, and
expanding the number of
clinics by more than
three-fold to nine clinics
taking the provider to new
markets in the Middle East,
Asia and Europe. The company
and Gulf Capital will also
be opportunistically looking
at acquisitions in other
geographies.
Dr Karim El Solh, Chief
Executive Officer of Gulf
Capital, said: “We are
thrilled to back the
strongest management and
medical team within the IVF
sector regionally. This
transaction exemplifies Gulf
Capital’s tried and tested
strategy of acquiring
controlling stakes in market
leading companies in high
growth sectors. IVI-RMA
Middle East is the fastest
growing IVF service provider
in the GCC, and we are
excited to be collaborating
with its strong management
team to take this platform
to the next level. The
investment in IVI-RMA Middle
East is Gulf Capital’s
largest equity investment to
date and is the first
corporate carve-out in our
Firm’s history.”
Dr (Professor) Human Fatemi,
Medical Director for IVI-RMA
Middle East, remarked: “Over
the past few years, the
uptake of assisted
reproduction methods to
conceive has increased
exponentially in the GCC,
especially among the urban
population. Infertility in
the Middle East has been on
the rise due to the
ever-evolving lifestyle
patterns and other
disorders. However, most of
the treatment protocols are
based upon western treatment
plans. While the IVF market
in the GCC is growing
rapidly, there is a clear
need to address issues like
standardized clinical
protocols, structured
training, genetic
laboratories and ethical
practices. At IVI-RMA Middle
East, we are undertaking
fundamental research across
all related areas including
genetics research based upon
our observations and trials
locally. It has been our
constant endeavor to assist
more and more couples to
fulfill their dream of
starting a family by
providing the most advanced
fertility treatments in
accordance with
international guidelines,
coupled with the right
technology. Our partnership
with Gulf Capital shall help
us offer our services to an
even broader segment of the
population.”
Suresh Soni, CEO of IVI-RMA
Middle East, said: “We are
excited to partner with Gulf
Capital as we embark on our
next phase of expansion and
growth. We share a common
vision: ‘Paulatim ergo certe’…
Slowly therefore surely. The
cornerstone of our success
is good science and
technology, which translates
into the best medical
outcomes for our patients.
We have world-renowned IVF
specialists and
embryologists working in
state-of-the-art facilities.
We shall continue to deliver
the best treatments and
services to our patients so
that they receive the best
value for their money. Our
partnership with Gulf
Capital, which has a storied
and long history of value
addition and operational
expertise, will help
accelerate our growth
internationally and position
us as one of the largest
global IVF fertility
platforms.”
Hazem Abu Khalaf, Managing
Director at Gulf Capital,
added: “We were very
impressed by what Suresh
Soni and Dr. Human Fatemi
have been able to accomplish
in such a short period of
time. IVI-RMA Middle East’s
research focused and patient
centric approach has allowed
it to build an impressive
track record that compares
favorably even with the best
IVF centers globally. With a
regional market expected to
continue to expand at a
double-digit growth rates
over the next five years, we
are confident that our
partnership will enable the
team to expand its coverage
and services into new
territories globally and to
deliver market leading
success and live birth
rates. We are enthusiastic
about our future plans
together and look forward to
working closely with the
team on this new phase of
growth.”
Gulf Capital was advised by
Allen & Overy and PwC. The
selling shareholders of
IVI-RMA Middle East were
advised by Lincoln
International, Clyde & Co
and Ernst & Young.
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