Gulf Islamic Investments Corporation (GII), which manages nearly $2 billion in assets, is gearing up for its biggest deal yet as it seeks to expand its investments in Saudi Arabia and India, as well as consider a public offering within the next three years.
Gulf International is planning to buy a stake in a Saudi healthcare company for about $600 million, according to co-founder Mohammed Al-Hassan, who declined to provide specifics. He revealed that the goal is to invest $1 billion in the Kingdom over the next 12 to 18 months.
Al-Hassan added in an interview with Bloomberg: “We go where there is money and where there are deals. We have great faith in Saudi Arabia.”
As the world’s population ages and the healthcare industry prepares to deal with the backlogs created by the coronavirus pandemic, investors are becoming more interested in Medicare. During the global outbreak, the industry has also established itself as a haven for dealmakers.
The demand for healthcare in the Middle East has risen as a result of rising life expectancy and an aging population. As hospital operators try to keep up with population growth, governments in the Gulf are investing more in providing medical services to their citizens.
Gulf Investments is also focusing on the Indian market, where the total value of the company’s healthcare investment assets has doubled in the last two years, according to co-founder Pankaj Gupta, who also plans to expand his private equity investments in India.
According to Gupta, the IPO was held to raise capital for the company’s expansion. “We are open to Saudi Arabia, the United Arab Emirates, and the United Kingdom for an IPO,” he added.