January 14, 2020 / 7:50 AM / 2 days ago

CORRECTED-Gulf Capital aims to triple newly acquired fertility firm's clinics, expand internationally

(Corrects second paragraph to say revenues of $200 mln, not worth $200 mln)

DUBAI, Jan 14 (Reuters) - Gulf Capital, which acquired IVI-RMA’s Middle East fertility treatment clinics for $100 million, said on Tuesday it aims to triple the number of clinics and expand the company regionally and into Europe and Asia under a three-year plan.

IVI-RMA Middle East clinics aims to generate revenues of $200 million in five years, the firm’s CEO Suresh Soni told reporters. “Gulf Capital is actively targeting investments within the fast growing and defensive healthcare sector and has identified the fertility sub-sector as a key focus priority, given its expected double-digit growth rates across the region,” Abu Dhabi-based Gulf Capital said in a statement.

Launched in 2016, IVI-RMA Middle East has grown at a 50% compound annual growth rate since inception and has achieved over 1,200 pregnancies in four years, Gulf Capital said.

Gulf Capital, which had $3 billion assets under management as of June 2019, is working on three acquisitions and two exits this year, El Solh said. (Reporting by Hadeel Al Sayegh; Writing by Yousef Saba; editing by Emelia Sithole-Matarise)

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