Gulf Capital to Buy Middle East Clinics in $100 Million Deal - Bloomberg

Gulf Capital to Buy Middle East Clinics in $100 Million Deal - Bloomberg:

Gulf Capital PJSC is poised to buy three fertility clinics in the Middle East from IVIRMA Global in a deal worth about $100 million, underscoring growing interest in the region’s health-care sector.

The transaction will include about 100 of IVIRMA’s employees at the facilities in Abu Dhabi, Dubai and Muscat, the fertility company said in an emailed statement. The deal will be completed within “the next few days, although the final transition of some staff members will take place gradually throughout this year.”

A spokeswoman for Abu Dhabi-based Gulf Capital said an announcement will be made next week.

IVIRMA, formed out of a merger Spain’s Instituto Valenciano de Infertilidad and Reproductive Medicine Associates of New Jersey in 2017, employs almost 2,400 people in 65 locations, according to its website. IVI opened a fertility center in Abu Dhabi in 2015 to tap into the region’s increased demand for assisted reproductivity.