Established in 1994 in Saudi Arabia with an initial focus on Saudi and Egypt markets, Elaj Group has evolved into an integrated healthcare platform in the MENA region with presence in GCC, Sudan, Ethiopia and UK. The group offers core and supporting activities across the healthcare industry from primary to secondary to tertiary medical services. Global Opportunistic Fund, a private equity fund managed by the private equity asset management team at Global, holds a significant minority stake in Elaj Group.

It is worth mentioning that healthcare investments constitute more than 40% of Global's private equity investments, with key investments in regional healthcare companies such as Planet Pharmacies (UAE and Saudi Arabia), Gulf Healthcare International (UAE and Kuwait), Bicakcilar (Turkey), in addition to Elaj Group.

Al Borg Medical Laboratories Limited, a subsidiary of Elaj Group offering a broad range of routine and esoteric laboratory tests, was established in Saudi Arabia in 1999 and has since established itself as the largest free standing private laboratory chain in the GCC. It provides diagnostic tests primarily in the areas of clinical pathology, molecular biology and genetics through its diagnostic laboratory network across GCC and Africa.

Commenting on the deal, Ahmed Mahmoud Abdullah, Board member at Elaj Group representing the Private Equity arm at Global said, 'We are pleased with the role we have been playing in supporting the management team of Elaj Group with the institutionalization and strategic development of the group, culminating in the substantial increase in the value of our investment in Elaj Group. The transaction was important to realize value and finance the growth plans for Elaj Group.'

He added, 'We also would like to thank the Investment Banking team of Global and the Advisory Team of EY for their great efforts in this transaction. Most importantly, we thank Elaj Group's Board and Management for their leadership to achieve this significant milestone and assure them of our commitment to support Elaj Group to become one of the leading integrated healthcare groups in the MENA region.'

Global Investment House KSCC published this content on 19 December 2016 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 19 December 2016 11:18:06 UTC.

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