Dividend Gate Capital (DGC), in partnership with Abdulla Fouad Group and a consortium of strategic investors, has announced the acquisition of a majority stake in Zahrat Al Amal Medical Group, a prominent provider of healthcare services based in Riyadh, Saudi Arabia, with a strong track record since its establishment in 1986.
Zahrat Al Amal Medical Group operates through two well-established medical centres and two pharmacies in Riyadh. It is distinguished by a highly specialised and experienced medical team, supported by modern infrastructure equipped with state-of-the-art medical technologies and devices.
The group offers a comprehensive portfolio of specialized clinics including orthopedics, urology, dentistry, physiotherapy, and several other clinics, positioning it as a fully integrated destination for quality healthcare services.
The group medical center, recently added to the group’s portfolio, is designed to deliver enhanced operational efficiency and improved flexibility, said a statement from DGC.
It has already demonstrated a tangible reduction in patient waiting times, resulting in higher levels of patient satisfaction, and has also positively impacted the group’s financial performance, it stated.
Looking ahead, the Saudi group is planning to launch a third medical centre that will broaden patient access while maintaining the same high standards of operational excellence.
This upcoming facility will offer a comprehensive selection of services currently provided at the existing centers, thereby expanding the group's reach and further diversifying its medical offerings, said the statement from DGC.
On the strategic acquisition, Mohammed Khonji, Founder and Managing Director of Dividend Gate Capital, said: We are pleased to join forces with Abdulla Fouad Group in acquiring a majority stake in Zahrat Al Amal Medical Group, a move that further reinforces our healthcare investment portfolio in Saudi Arabia.""
"This partnership marks a pivotal advancement in our efforts to invest in the development of the Group’s infrastructure and the improvement of its medical services, in line with the evolving healthcare needs of families in Riyadh," he stated.
We are also committed to broadening the scope of services offered, elevating operational efficiency, and delivering a meaningful contribution to the wellbeing of the wider community," he added.
Faisal Abdulla Fouad, Chairman of Abdulla Fouad Group, said: "Through our joint acquisition of a majority stake in Zahrat Al Amal Medical Group in partnership with DGC, we reaffirm our strategic commitment to the healthcare sector in Saudi Arabia as one of the most attractive and dynamic avenues for private equity investment."
This conviction is underpinned by key growth drivers within the Saudi market, including a rising population, the progressive rise in life expectancy rates, and an increasing demand for high-quality medical services," noted Fouad.
"We remain focused on forging strategic partnerships with distinguished healthcare providers across the Kingdom, drawing on our deep operational and investment expertise to support their sustainable growth, improve service efficiency and quality, and contribute to the realization of the objectives outlined in Saudi Vision 2030," he added.
Farhan Al Mutairi, the founder of Zahrat Al Amal Medical Group, said: "We are proud to welcome two prominent strategic partners, DGC and Abdulla Fouad Group, in addition to group of strategic partners in Zahrat Al Amal Medical Group. Their participation brings valuable support to our ongoing efforts to expand our services, upgrade our infrastructure, and integrate the latest medical technologies."
"This partnership will further solidify our position as a trusted provider of high-quality healthcare services not only in Saudi Arabia but across the region," he added.-TradeArabia News Service
