Tuesday 21, March 2017 by Jessica Combes

NBK Capital fully realises investment in Elaj Medical Services

NBK Capital, a leading investment firm in the MENA region, announced that it has successfully completed the sale of a stake held by the Kuwait Investment Opportunities Fund in Elaj Medical Services KSCC (EMS), which owns Taiba Hospital in Kuwait, to a consortium of renowned doctors.

NBK Capital arranged the strategic investment in EMS in 2011, through its management of the Kuwait Investment Opportunities Fund (the Fund). The firm’s subsidiary in the DIFC, NBK Capital Partners Limited,  has previously advised on successful investments in the healthcare sector, namely in Dünya Göz, a leading ophthalmology hospital chain in Turkey, and Bavet İlaç A.S., a leading manufacturer and distributor of animal health products in Turkey.

“We are excited to embark on the next phase of growth with our new partners who come with a wealth of experience in the medical field and bring strategic value to Taiba Hospital. Our partnership with NBK Capital has enabled us to grow our operations and facilities, and the new partnership will enable us to utilise our new state-of-the-art facilities to their full potential,”said Sanad Al-Fadala, Founder and Chairman of Elaj Medical Services.

Taiba Hospital was founded in 2002 as a day case surgery centre by Dr. Sanad Al-Fadala. During its partnership with NBK Capital and the Fund, the management team developed and executed a strategic growth plan that significantly expanded the hospital’s capacity and delivered high standards of clinical care to over 275,000 patients annually.

“This deal represents the continuing endeavour of NBK Capital to develop the social infrastructure of Kuwait in partnership with local entrepreneurs. With enhanced service offerings and new facilities, we believe the business has a strong and sustainable platform to continue its expansion in Kuwait. We continue to explore credit and equity opportunities in core sectors such as healthcare, education and food and beverage, where we can leverage our expertise to maximise value for both our partners and investors,” said Faisal Al Hamad, CEO of NBK Capital.

The sellers were advised by NBK Capital’s Investment Banking team and Meysan Partners acted as legal advisor on the transaction.

 

  

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