Jeddah-based ReAya Holding, a private equity firm that targets healthcare and pharmaceutical companies, plans to acquire majority stakes in three different healthcare firms this quarter, said Ahmed Emara, chief executive officer.
“We’re working on two acquisitions in the United Arab Emirates, and one in Saudi,” he told Argaam, adding that the size of the deals is around $150 million to $200 million.
Emara did not provide further information on the potential deals or names of targeted companies.
“We have been diversifying since the inception and ReAya targets specialized medical centers, primary healthcare facilities and medical/laboratory distributors,” he said.
In February 2015, the investment firm acquired a 76 percent stake in Metrek, a Riyadh based chain of 15 pharmacies and five polyclinics.
ReAya also holds a 49 percent stake in Zahrawi Medical, which specializes in diagnostics and surgical labs with operations in Saudi, UAE, and Qatar, as well as a 25 percent in SABA Medical, a Saudi-based health care equipment and services firm.
ReAya is currently seeking legal advice to restructure itself for greater efficiency, Emara added.
Write to Farha Abdelhaq at farha.abdelhaq@argaamnews.com
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