The Abraaj Group (Abraaj) has acquired a majority stake in Clinique Taoufik, a private hospital in Tunisia, for an undisclosed sum.
Based in the capital city of Tunis, Clinique Taoufik was one of the first private healthcare institutions launched as part of efforts to modernise Tunisia’s healthcare system.
The hospital currently treats 75,000 patients per year in areas such as general surgery, heart surgery, neurosurgery and obstetrics. It has an emergency service, a radiology centre and a laboratory dedicated to the hospital’s patients.
A statement from Abraaj said the hospital is the market leader in terms of brand recognition and revenues and – at 164 beds – the second-largest in terms of bed capacity.
Through financing and operational support, Abraaj will aim to increase patient capacity, add new services, upgrade and renovate the hospital, and invest in human resources and training.
The investment marks the sixth deal completed by Abraaj in Tunisia alongside the likes of baked goods company Moulin d’Or and plastic injection firm PEC. It also boosts the firm’s healthcare portfolio which includes Turkish health group Acibadem and Egypt’s Integrated Diagnostics Holdings.
In the statement, Abraaj partner and head of Middle East and Ahmed Badreldin said of Clinique Taoufik: “We are backing a company with strong growth potential as the North African population is expected to reach 190 million by 2020, with life expectancy also on the rise, contributing to increasing demand for quality healthcare services.”
Abraaj invests in growth markets around the world, with over 25 offices in six regions, and has more than $7.5 billion under management targeting private equity, infrastructure and real estate investments.