ABU DHABI – Gulf Capital, one of the most active alternative investment firms in the Middle East based in Abu Dhabi, announced Tuesday that its portfolio company, Techno Group Investment Holdings (TGIH), has acquired a strategic stake in Med Ray, Jordan's premier diagnostic imaging centers company. This latest acquisition is part of Gulf Capital's broader strategy to continue its investment program in the fast-growing regional healthcare sector. Gulf Capital already owns a controlling stake in Technoscan, the largest diagnostic imaging centers company with centrers spread across the region. With this new acquisition, Techno Group will be operating 21 diagnostic imaging centers across the Middle East. This will confirm its status as the largest regional chain of diagnostic imaging centers in the Arab region. Jordan is a major health care hub in the Middle East that is ranked 11th worldwide in the quality of healthcare charts and 6th in terms of its attractiveness as a medical tourism hub. Dr. Karim El Solh, Chief Executive Officer of Gulf Capital, said: “This new acquisition of Med Ray in Jordan is in line with our strategy of growing our portfolio companies both organically and through bolt-on acquisitions, while expanding our geographical footprint. This latest acquisition cements Techno Group's leading position as the premier diagnostic imaging company in the Middle East. With 21 centers and growing, Techno Group gives Gulf Capital exposure to the fast-growing Arab healthcare market." Richard Dallas, Managing Director of Private Equity at Gulf Capital, said: “Gulf Capital seeks to invest in market-leading healthcare companies that reduce healthcare costs, increase quality of care or service, enable payers and providers to improve efficiencies." – SG
