Alkhabeer Capital acquires majority stake in Alajaji Group.
Alkhabeer Capital and Dr. Omar Suliman Al-Ajaji Medical Company (Alajaji Group), executives at an event.
Alkhabeer Capital, a major asset management and investment firm based in Saudi Arabia, and authorized by the Capital Market Authority, has announced that as part of its SME private equity strategy, it has acquired a majority stake in Dr. Omar Suliman Al-Ajaji Medical Company (Alajaji Group).
Founded in 1995 by Dr. Omar Al-Ajaji and headquartered in Riyadh, Saudi Arabia, the Al-Ajaji Group owns and operates four polyclinics and five pharmacies in the capital. The company has grown steadily since its foundation, providing health care services primarily to resident expatriates in the Kingdom.
Alkhabeer Private Equity aims to build a successful partnership with Dr. Omar Al-Ajaji and to support the growth of the company by opening additional polyclinics and diversifying the offering of treatments and specialties at the existing facilities.
Ahmed S. Ghouth, Alkhabeer Capital's deputy CEO, said: "As Alkhabeer continues to expand its focus on new investment strategies in the region, I am excited about our partnership with Dr. Omar Al-Ajaji and confident that we can contribute to the continued development of Al-Ajaji Group as it grows its reputation as one of the leading polyclinic operators in the Kingdom".
Dr. Omar Al-Ajaji, Al-Ajaji Medical Company CEO, commented: "This partnership with Alkhabeer Capital represents a critical milestone in the evolution of Al-Ajaji Group and supports our goal of becoming one of the leading polyclinic brands in our target market.
The resident expatriates market represents significant growth potential. Its population is expected to grow by 5.6 percent annually over the next five years, and we are uniquely placed to benefit from this growth."
Copyright: Arab News 2014 All rights reserved. Provided by SyndiGate Media Inc. ( Syndigate.info ).
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|Publication:||Arab News (Jeddah, Saudi Arabia)|
|Date:||Sep 29, 2014|
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