Health PIF unit leads fundraising for Saudi healthcare fund By Pramod Kumar May 28, 2024, 8:00 AM Unsplash.com/Sincerely Media Fundraising for TVM Healthcare Afiyah Fund has been led by PIF unit Jada Fund of Funds Jada Fund of Funds in $250m drive Investors from GCC and Europe DEBx, Neurocare among investments Jada Fund of Funds, wholly owned by the Public Investment Fund, has led the SAR920 million ($250 million) fundraising round in a fund which aims to invest in major healthcare companies in Saudi Arabia. Other investors in the TVM Healthcare Afiyah Fund were from Saudi Arabia, the GCC and Europe, according to TVM Capital Healthcare, a private equity firm headquartered in Dubai and Singapore. The fund’s initial investments include Baraya Extended Care, a Riyadh-based chain of post-acute care and rehabilitation clinics; DEBx Medical, an Amsterdam-based developer and manufacturer of products for the treatment of chronic wounds; and Neurocare Group, a Munich-based provider of mental health services and products. NewsletterGet the Best of AGBI delivered straight to your inbox every week DEBx Medical and Neurocare Group are poised to enter the Saudi and GCC markets. Additional investment areas include longevity and genomics, oncology, pharmaceutical manufacturing, and diagnostics. TVM Capital Healthcare has been active in the Middle East since 2009 and Southeast Asia since 2021. It anticipates investing $400-$500 million in Saudi and global healthcare companies. Healthcare group Fakeeh attracts orders of $91bn for Saudi IPO UAE diabetics face Ozempic shortage due to weight-loss users Egypt misses healthcare targets as population ails TVM Capital Healthcare has been investing in the GCC and Egypt for over 13 years and, more specifically, operating in Saudi Arabia since 2015 through former portfolio companies ProVita International Medical Center and Cambridge International Medical Center. The private equity company also has offices in Riyadh, Saudi Arabia, and Ho Chi Minh City, Vietnam, with supporting offices in Munich, Germany and Boston, the US.
Tax $660m a year ‘sin tax’ target set by Kuwait Kuwait hopes to raise 200 million dinars ($660 million) a year through a “sin tax” on unhealthy products as part of tax reforms proposed by the International Monetary Fund, the country’s finance minister said on Wednesday. Noora Al-Fassam told the official Kuwaiti news agency that her ministry was working on a new law for a […] 3 hours ago
Transport Tenders issued for high speed Abu Dhabi-Dubai rail link Tenders have been issued for the design and construction of central components in a high-speed rail link between Abu Dhabi and Dubai. Etihad Rail, the national rail company of the UAE, has sent out tenders for designing and constructing civil works and station packages for the line connecting the two cities as part of the […] 3 hours ago
EXCLUSIVE Aviation Wizz Air increases flights from UAE to Israel after ceasefire The budget carrier Wizz Air is increasing the number of flights between Abu Dhabi and Tel Aviv after the ceasefire agreement between Israel and Hamas. The airline had previously scaled back its Tel Aviv-Abu Dhabi service to four flights a week because of the conflict, down from its pre-crisis schedule of two flights a day. […] 2 hours ago
Construction Dubai Multi Commodities Centre announces “Crypto Tower” Dubai Multi Commodities Centre (DMCC) and software company Reit Development have announced plans to build a 17-storey “Crypto Tower” that they say will demonstrate the use of blockchain technology. Blockchain will be used for tenant interactions and transactions through the use of on-chain voting mechanisms, shared resources, smart contracts and other automated services. The 150,000 sq […] 2 hours ago
