Abu Dhabi-based Gulf Capital acquires two healthcare tech firms in US

By Shilpa Annie Joseph, Desk Reporter
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Abu Dhabi
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UAE’s leading private equity firm Gulf Capital has acquired two healthcare technology companies in the United States for $60 million.

The company CEO, Karim El Solh, has stated that the investment firm is looking forward to expanding its services over the coming years. Gulf Capital has completed the purchase of majority stakes in US-based Eclat Health and Hansei Solutions, which specialize in revenue cycle management solutions for healthcare providers, as per the company statement.

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Karim El Solh
CEO – Gulf Capital

“The investments were worth $60 million roughly evenly split. Our focus on healthcare has paid off very nicely because it’s been one of the very few sectors that have been growing during the pandemic. The other two sectors that are doing very well for us are technology and payments. Gulf Capital’s third private equity fund, worth $750 million, has been 78 percent deployed. Next year we hope to come to market with a new fund. The company further plans to add about 10 people to its 50 employees.”

He further added that the new private equity fund, which it plans to launch next year, will be roughly the same size as the third fund. The company is also planning to raise new funds for private debt investments.

“SMEs (small and medium-sized enterprises) are looking for financing, the region has one of the lowest SME financing rates, and they need growth capital. There’s definitely big thirst and need for liquidity for these companies during the pandemic,” commented Mr. El Solh.

Last year, Gulf Capital has obtained a majority stake in CWB Group, an intellectual property services provider in the Middle East and North Africa (MENA) region.

Related: UAE’s Amanat acquires Cambridge Medical; One of largest healthcare deal in region