Gulf Capital successfully exits ART Fertility Clinics’ Middle East operations, selling its stake to IVI-RMA Global
 

(ABU DHABI) - Gulf Capital, one of the largest private equity firms investing from the GCC to the rest of Asia, has announced that it has sold its majority stake in ART Fertility Clinics’ Middle East operations to IVI-RMA Global, the world’s largest assisted reproduction group. The transaction is expected to generate a significant return on invested capital, making it one of Gulf Capital’s most successful exits to date.

Since its acquisition in 2020, ART Fertility Clinics has undergone a period of significant growth and transformation. Under Gulf Capital’s ownership, ART expanded from a UAE-focused business into a regional fertility platform with 15 clinics, including 3 in the UAE, 1 in Saudi Arabia, and 11 in India. The scope of the transaction includes the clinics located in the UAE and Saudi Arabia, while the India operation will remain under the ownership of Gulf Capital. In the Middle East alone, ART Fertility Clinics has delivered substantial revenue and EBITDA (earnings before interest, taxes, depreciation, and amortization) growth since 2020, with profitability quadrupling over the last five years. This strong financial performance has been underpinned by ART’s reputation for clinical excellence, rapid regional expansion, and some of the highest success rates in IVF treatments across the region.

Dr. Karim El Solh, Co-Founder and CEO of Gulf Capital, commented: “We are proud of the transformation we achieved at ART Fertility, scaling the platform from a single-country operator to the regional leader in reproductive medicine. Under Gulf Capital’s ownership, ART Fertility invested heavily in science and research with 220 medical publications to date and launched a pioneering genetic testing lab in Abu Dhabi, leading to some of the highest IVF fertility success rates globally. ART Fertility’s expansion and financial performance underline Gulf Capital’s deep focus on operational improvements and growth. Following a competitive auction, the successful sale of the company to a global strategic buyer highlights Gulf Capital’s ability to source, grow, and exit healthcare platforms at very attractive multiples.”

Suresh Soni, CEO of ART Fertility Clinics, said: “ART Fertility has built a strong reputation for clinical excellence and world-class patient outcomes. Our success has been driven by our scientific rigor, a world-renowned medical team led by Prof. Dr Human Fatemi, and a deep commitment to providing the best-in-class care. With the support of Gulf Capital, we successfully expanded across the region and enhanced our service offerings, including the addition of in-house genetic capabilities. We are excited to join IVI-RMA’s global platform and to continue delivering on our mission and commitment towards the GCC community.”

Hazem Abu Khalaf, Managing Director and Head of Healthcare investments at Gulf Capital, added: “Our investment in ART Fertility is a clear example of Gulf Capital’s ability to drive operational improvement and strategic growth in high-impact sectors. As one of the most vital and rapidly evolving industries in the GCC, healthcare continues to offer both significant impact and long-term growth opportunities. ART Fertility stands as a testament to that potential. Over the past few years, we have helped build a business that combines scale, profitability, and clinical leadership – three elements that are often difficult to align. We are confident that ART Fertility is well-positioned for continued success in its next phase of growth under IVI-RMA’s ownership and are proud to have laid the foundation for its continued success in advancing specialized healthcare in the region.”

Gulf Capital and ART Fertility Clinics were advised by Moelis & Company as M&A advisor, and A&O Shearman as legal advisor on the transaction. 
  

                        
                

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