Financial services firm Gulf Islamic Investments LLC is planning to purchase a stake in a Saudi healthcare company for around $600 million, co-founder Mohammed Alhassan revealed during an interview. This is expected to be the largest deal that GLL has completed to date.
Currently overseeing over $2 billion in investments, GLL is aiming to pump at least $1 billion into Saudi Arabia’s economy in the next year to 18 months. “We go where the money is and where the deals are,” Alhassan said. “We have a lot of faith in Saudi.”
Since the start of the coronavirus pandemic, investor interest in medical care has skyrocketed. With vaccine makers’ profits growing exponentially, healthcare companies have developed a reputation for being safe bets during uncertain times.
Rising life expectancy and aging populations in the Middle East have boosted the demand for high-quality healthcare in the region, particularly in oil-rich nations such as Saudi Arabia. As a result, Gulf nations’ governments have increased their spending on the provision of medical services so as to ensure that hospitals can cope with their growing population.
