UAE's GII acquires $160m stake in Saudi’s Abeer Medical Company
Shariah-compliant investment company Gulf Islamic Investments (GII) has acquired an equity stake worth $160 million in Saudi Arabia’s Abeer Medical Company.
Abeer is the largest affordable healthcare service provider in the kingdom, and operates 50 healthcare facilities including hospitals, pharmacies and clinics, in Saudi Arabia and the Gulf region.
GII’s growth strategy for Abeer includes expanding its portfolio of hospitals and clinics, plus rolling out additional brands to widen the latter’s scope and geographical footprint, GII said in a statement.
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