The Gulf Islamic Investment Company has inked a deal to acquire a significant ownership stake valued at 600 million Saudi riyals in Abeer Medical Company (Abeer), the largest provider of affordable healthcare services in Saudi Arabia. <\/p>\n
Renowned as a global leader in Islamic Sharia-compliant alternative investments, managing assets totaling $4 billion, the Gulf Islamic Investment Company has chosen Al-Abeer Company as a key partner, reports Al-Anba daily. <\/p>\n
This strategic move aims to expand the healthcare assets of the Gulf Islamic Investment Company in Saudi Arabia, currently estimated at around 1.6 billion Saudi riyals, inclusive of a majority stake in Al-Miswak Clinics Dentistry, the largest network of dental and dermatology clinics in the Kingdom. <\/p>\n
The collaboration with Al-Abeer Company is anticipated to facilitate the growth of hospitals and clinics in Saudi Arabia, introducing new brands to enhance healthcare services for residents and visitors.<\/p>\n
Expressing his initial thoughts on the agreement, Mohammed Al-Hassan, co-founder and CEO of Gulf Islamic Investment (GII), expressed pleasure in augmenting their healthcare services portfolio in the Kingdom. <\/p>\n
Al-Hassan highlighted that the partnership with Al-Abeer Company would enable the latter to reach more cities and sectors, contributing to the broader expansion strategy in Saudi Arabia under the leadership of Al-Abeer’s founder, Muhammad Alungal, and his dedicated team of 2,000 employees.<\/p>\n
Muhammad Alungal, Chairman of the Board of Directors and CEO of Al-Abeer Company, emphasized that the investment by the Gulf Islamic Investment Company opens up new possibilities for the expansion of Al-Abeer Company’s medical care network. This includes 14 medical centers, two general hospitals, and various clinics. <\/p>\n
Alungal emphasized that this investment marks a crucial step in solidifying Al-Abeer’s position as a leading healthcare company in Saudi Arabia, celebrating its 25th anniversary this year.<\/p>\n
Pankaj Gupta, Co-Founder and CEO of Gulf Islamic Investment (GII), highlighted Al Abeer’s robust growth potential through diverse healthcare channels, making it an attractive investment destination for GII investors. <\/p>\n
The development plans crafted by the Gulf Islamic Investment Company aim to double Al-Abeer Company\u2019s revenues and profits over the next five years, contributing to the expansion of medical services across Saudi Arabia and providing an attractive return for investors.<\/p>\n","protected":false},"excerpt":{"rendered":"
The Gulf Islamic Investment Company has inked a deal to acquire a significant ownership stake valued at 600 million Saudi riyals in Abeer Medical Company (Abeer), the largest provider of affordable healthcare services in Saudi Arabia. Renowned as a global leader in Islamic Sharia-compliant alternative investments, managing assets totaling $4 billion, the Gulf Islamic Investment […]<\/p>\n","protected":false},"author":18,"featured_media":148137,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,18],"tags":[],"class_list":["post-148136","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-featured","category-local"],"yoast_head":"\n