Gulf Islamic Investments acquires a significant stake in Saudi Arabia’s Abeer Medical Company

Gulf Islamic Investments acquires a significant stake in Saudi Arabia’s Abeer Medical Company

The partnership of GII and Abeer Medical Company’s established healthcare network of hospitals, clinics, pharmacies and optical across six Saudi cities, offers ample opportunities to expand the healthcare services on offer to the Kingdom’s citizens and residents.  Gulf Islamic Investments (GII) has signed agreements to acquire a significant equity stake in Abeer Medical Company (Abeer), the largest affordable healthcare services provider in the Kingdom of Saudi Arabia, in a deal valued at an estimated SAR 600 million. GII, a leading Shari’ah-compliant alternative investment company with US$4 billion of assets under management (AUM), identified Abeer as a leading partner to expand GII’s healthcare assets in the Kingdom – now worth some SAR 1.6 billion - including a majority stake in AlMeswak Dental Clinics, Saudi Arabia’s largest dental and dermatology network. GII’s growth strategy for Abeer includes expanding the number of hospitals and clinics in addition to the roll-out of additional brands to widen Abeer’s scope and geographical footprint of healthcare services to the Kingdom’s residents and visitors.  GII co-founder and co-CEO Mohammed Alhassan commented, “We are delighted to increase our healthcare portfolio in Saudi Arabia, which is part of a wider expansion of GII’s activities in the Kingdom. Our partnership will