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Gulf Capital to possibly snap up assets from IVIRMA: Bloomberg
Posted on Friday, 10 January 2020 15:02
Alternative asset manager Gulf Capital is set to acquire three Middle Eastern fertility clinics from IVIRMA Global, in a deal that could be worth as much as USD 100.00 million, Bloomberg reported.

In an emailed statement picked up by the news provider, the possible vendor said the transaction is due to complete in the next few days.

According to the fertility company, the potential divestment is in line with its strategic development plans and will include 100 of its employees across its clinics in Abu Dhabi, Dubai and Muscat, Bloomberg noted.

However, in the email, IVIRMA said the transition of its staff members would take place gradually throughout 2020.

Founded in 1990, the possible acquiror claims to be the world’s largest assisted reproduction group.

IVIRMA operates 65 clinics and seven investigation centres throughout 11 countries globally, including Spain, the US, UAE and the UK.

Its IVIRMA Innovation division specialises in a range of fertility studies and procedures, namely cryobiology, endometrial receptivity, reproductive disorders and In vitro fertilisation, more commonly known as IVF.

The potential deal, Bloomberg noted, would allow Gulf Capital access into the growing private health sector in the UAE, where cities such as Dubai have been advocating for themselves as medical tourism hotspots.

Citing a spokeswoman for the Abu Dhabi-based firm, the news provider stated an announcement regarding the possible acquisition will be made next week.

Established in 2006, Gulf Capital operates an investment portfolio across the Middle East and Africa.

As of June 2019, it had assets under management of GBP 3.00 billion.

Zephyr, the M&A database published by Bureau van Dijk, shows there were 23 deals targeting family planning centres announced globally in 2019.

Universal Clinics acquired Spain’s Ginefiv for EUR 30.00 million in the largest of these.

Vitrus Health, Monash IVF Group and Apricity Fertility UK, among others, were also targeted in this sector.

© Zephus Ltd