GII to Buy Health Company as Part of $1 Billion #Saudi Expansion - Bloomberg

GII to Buy Health Company as Part of $1 Billion Saudi Expansion - Bloomberg

Gulf Islamic Investments LLC, a financial services firm that oversees nearly $2 billion, is preparing for what could be its biggest deal yet as it looks to grow investments in Saudi Arabia and India and considers a listing in the next three years.

GII, as the firm is known, plans to buy a stake in a Saudi health-care company for around $600 million, co-founder Mohammed Alhassan said in an interview, declining to give specific details. The goal is plow around $1 billion into the kingdom over the next year to 18 months, with investments also targeted at logistics and cloud kitchens.

“We go where the money is and where the deals are,” Alhassan said. “We have a lot of faith in Saudi.”

Investor interest in medical care has been rising as the world’s population ages, and as the health-care sector prepares to address a backlog of procedures delayed by the coronavirus pandemic. The industry has also emerged as something of a safe haven for dealmakers during the global outbreak.