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Abraaj picks up majority stake in Tunisian hospital Polyclinique Taoufik

14 Jul 2014

polyclinique taoufikMiddle East-based investment major The Abraaj Group has bought a majority stake in Tunisian private healthcare business Polyclinique Taoufik.

The hospital currently treats 75,000 in and out-patients each year offering services including general surgery, radiology and neurosurgery.

Abraaj said it planned to grow the company by using its extensive experience in the healthcare sector, gained from investing in businesses including Turkish healthcare group Acibadem, Tunisia’s Unimed and Egypt’s Integrated Diagnostics.

Abraaj head of Middle East and North Africa Ahmed Badreldin said, “Our investment in Clinique Taoufik marks our sixth investment in Tunisia and enables us to execute our wider strategy of acquiring robust and innovative businesses in critical sectors such as healthcare.

“We are backing a company with strong growth potential as the North African population is expected to reach 190 million by 2020, with life expectancy also on the rise, contributing to increasing demand for quality healthcare services.”

Abraaj Group has revealed plans to buy a controlling stake in Egyptian backed goods and sweets maker BiscoMisr.

Abraaj could buy between 51 per cent and 100 per cent of the business according to a statement on its website.

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