UAE – Mubasher: Abu Dhabi- based Gulf Capital has acquired two healthcare technology companies in the US in exchange for $60 million, Reuters reported.
The acquisitions are part of the company’s objective to expand over the coming year, the CEO of Gulf Capital, Karim El Solh, said.
Gulf Capital completed the purchase of majority stakes in the US-based Eclat Health and Hansei Solutions, which specialise in revenue cycle management solutions for healthcare providers.
“Our focus on healthcare has paid off very nicely because it’s been one of the very few sectors that have been growing during the pandemic. The other two sectors that are doing very well for us are technology and payments,” El Solh told Reuters.
Meanwhile, El Solh remarked that Gulf Capital has used 78% of its third private equity fund valued at $750 million; hence, the company plans to launch a new fund next year
The CEO further noted that the new private equity fund would have roughly the same size as the third fund.
The company is also preparing for new fundraising next year for private debt investments.
“SMEs are looking for financing, the region has one of the lowest SME financing rates, and they need growth capital,” El Solh commented.
