Investcorp Bank, a Bahrain-based private equity firm, is reported to be in talks to buy a minority stake in Al-Borg Medical Laboratories, a Saudi-based health care company.
The value of the deal could exceed SR1 billion, a source who requested anonymity said, adding Al-Borg is being advised by Ernst & Young (E&Y).
Al-Borg claims on its website that it remains the Middle East’s largest chain of private medical laboratories, providing medical tests for individuals and health care companies.
Saudi Arabia’s health care industry is making head way due to private investment as the government embarks on an economic transformation plan that aims to boost the contribution of private sector spending from 25 percent to 35 percent.
An investment of $32 million in the Kingdom’s health care sector has come from the Abu Dhabi-based NMC Health, according to the source.
It will be recalled that the Bahrain-based money manager, the Gulf’s largest private investor in US real estate, said in July that Abu Dhabi sovereign investment fund Mubadala Development will acquire a 20 percent stake.
The value of the deal could exceed SR1 billion, a source who requested anonymity said, adding Al-Borg is being advised by Ernst & Young (E&Y).
Al-Borg claims on its website that it remains the Middle East’s largest chain of private medical laboratories, providing medical tests for individuals and health care companies.
Saudi Arabia’s health care industry is making head way due to private investment as the government embarks on an economic transformation plan that aims to boost the contribution of private sector spending from 25 percent to 35 percent.
An investment of $32 million in the Kingdom’s health care sector has come from the Abu Dhabi-based NMC Health, according to the source.
It will be recalled that the Bahrain-based money manager, the Gulf’s largest private investor in US real estate, said in July that Abu Dhabi sovereign investment fund Mubadala Development will acquire a 20 percent stake.
