KSA Business: Jadwa sells majority stake in Al Meswak Dental Clinics to GII – Gulf Digital News

KSA Business: Jadwa sells majority stake in Al Meswak Dental Clinics to GII – Gulf Digital News

Jadwa Investment, a leading investment management and advisory firm in the Middle East, and Gulf Islamic Investments (GII), a leading private equity, real estate and venture capital company based in the UAE, announced today that Jadwa Healthcare Opportunities Fund 3 —a fund managed by Jadwa — has sold its majority stake in Al Meswak Dental Clinic to GII and Jadwa Healthcare Opportunities Fund 5, a newly formed fund managed by Jadwa.

Fast-growing and valued at over $530 million (SR2 billion), Al Meswak is the largest dental and dermatology service provider in Saudi Arabia.

Since Jadwa’s initial investment in the company in December 2017, Al Meswak has grown its operations from 30 clinics in five cities to more than 80 clinics across 20 cities and more than 700 doctors serving 450,000 patients annually. This growth has been achieved through a combination of acquisitions and organic expansions, including the introduction of Al Meswak’s dermatology offering in 2020.

Mohammed Al Hassan, Co-CEO and Co-Founder of GII, said: “This is a landmark transaction that reflects our capability and reach in the healthcare sector and the Saudi market. We look forward to building a long-term partnership with Jadwa Investment, and to work together towards listing Al Meswak on