Dubai-based Abraaj Investment Group has acquired a majority stake in Clinique Taoufik, a leading private hospital in Tunisia.
“We are happy to partner with the Abraaj team, who will help us build on our leading position in the health care delivery sector and accelerate Clinique Taoufik,” CEO of Clinique Taoufik, Leila Kefi said
Clinique Taoufik was one of the first private healthcare institutions established in Tunisia as an effort to modernize the country’s healthcare system.
The hospital has a radiology center, a laboratory and an emergency service. It also currently offers services such as obstetrics, heart surgery, neurosurgery and general surgery.
With the operational and financial support, Abraaj aims to consolidate the position of the hospital by adding new services, upgrading and renovating the hospital and investing in human resource and training and further increase patient
“We are supporting a company with strong growth potential as the population of North Africa is expected to reach 190 million by 2020 ,with life expectancy also increasing and contributing to growing demand for quality health care service,” Abraaj Group Partner and Head of Middle East and North Africa, Ahmed Badreldin said.
In Africa, The Abraaj Group has invested more than $2.2 billion since its inception, with about $1.7 billion expended in North Africa’s business landscape since 2006.
In 2013, it sold a 90 percent stake in Tunisian Opalia Pharma to Italian Pharmaceutical maker Recordati. During its time at the helm of affairs at Opalia, it recorded a 250 percent increase in sales.
This investment in Clinique Taoufik makes it the sixth investment in Tunisia. others include deals in Plastic Electro-mechanic Company (PEC), a company that specializes in Plastic injection, medical product and assembly of electrical equipment and harnesses as well as Unimed Pharma, a leading player sterile form Pharmaceutical product and Moulin d’Or a baked good company. (VENTURESV AFRICA)