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Abraaj buys top oncology clinics in Morocco

DUBAI, November 5, 2015

The Abraaj Group, a leading investor operating in global growth markets, said it has acquired a majority stake in Centre de Traitement Al Kindy, the largest private oncology clinic in Casablanca and Clinique Spécialisée Menara, a leading oncology and imaging diagnostics centre in Marrakech.

The deal was cut through Abraaj's second generation North Africa Fund.

Al Kindy and Menara together form the largest private integrated network of imaging diagnostics and cancer treatment centers in Morocco with 12 doctors who are expected to collectively treat more than 10,000 patients in 2015.

The network will expand over time to include partnerships with domestic and international oncology and imaging diagnostics centers in order to extend its services and reach, said a statement from Abraaj.

Founded by Dr Mohamed El Morchid and Dr Abdellatif Bouih in 1989, Al Kindy is the first private oncology center in Morocco. Located in Casablanca, a city with a population of over 4 million people, Al Kindy is the largest private clinic of its kind in Morocco.

It is renowned for the calibre of its medical professionals and the sophistication of its medical technology and equipment, including two hitech Varian Rapid Arc Linear Accelerators (Linacs). Al Kindy serves patients from Morocco and neighbouring countries such as Mauritania, Mali and Senegal.

The Menara oncology center was founded in 2013 by six experienced doctors and medical professors. Leveraging its reputed medical team, Menara has grown into one of the leading referral oncology, radiology and diagnostics centres in Marrakech with plans to invest in additional radiotherapy technology.

With approximately 30,000 to 40,000 new cancer cases reported each year in Morocco, the healthcare sector is experiencing rising demand for quality cancer treatment centers.

On the investment, Ahmed Badreldin, regional head of Middle East and North Africa (Mena) for Abraaj Group, said: "This new network for cancer treatment and imaging diagnostics centers in Morocco represents a unique opportunity to bring our significant global healthcare experience into a more specialised field."

"Through the network, we will build on synergies to optimize provision of quality healthcare, improve facilities and processes, and encourage knowledge sharing between the different medical teams in order to enhance the overall quality and patient experience at each treatment center," he stated.

Anas Guennoun, the director at Abraaj Group, said the investment into Al Kindy and Menara is focused on the need to provide better quality cancer treatment facilities in Morocco.

"Al Kindy and Menara have excellent reputations in the market, with an experienced medical team, strong partnerships with state and private insurance companies, and the capacity to further grow services and facilities to provide outstanding patient care," he noted.

Mohamed El Mandjra, the chief executive of the newly formed Oncology and Imaging Diagnostics holding company, said: "Providing our patients with accessible and high quality treatment is a priority for us. Our partnership with Abraaj through the creation of a larger, integrated network enables us to achieve that goal."

"Abraaj has a strong track record in the global healthcare space, in addition to deep local understanding and experience. We look forward to working with Abraaj as our partner in North Africa and, jointly, creating a center of excellence for imaging diagnostics and oncology treatment in the region," he added.-TradeArabia News Service




Tags: Morocco | Abraaj |

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