RIYADH: Private equity firm TVM Capital Healthcare Saudi has announced its second $250 million capital pool for the Middle East, aimed at enhancing Saudi healthcare investment and supporting local medical enterprises. The international growth capital investment fund has been active in the Middle East since 2009 and will extend its reach to Southeast Asia in 2021.
According to a press statement, the launch of this new fund builds on TVM Capital Healthcare Saudi’s prior achievements in the region, offering attractive returns and demonstrating its proficiency in locating deals and fostering the expansion of sustainable businesses within Saudi healthcare investment.
The completion of this deal, according to Bandr Al-Homaly, managing director and CEO of Jada Fund of Funds, represents a significant turning point in the flow of private investment into Saudi Arabia’s healthcare industry. “We are happy to spearhead the investment, contributing funds to help the industry grow following Vision 2030,” he expressed.
TVM Capital Healthcare Saudi focuses on addressing medical requirements by making strategic investments in business endeavors within Saudi healthcare investment. These initiatives yield substantial returns for investors and have long-lasting beneficial effects on nearby communities.
The company has established a solid reputation as a global fund manager that finances and manages significant medical businesses in the Kingdom. For the benefit of these companies’ aspirations to expand in Saudi Arabia and the larger Gulf Cooperation Council, TVM Capital Healthcare Saudi also invests in healthcare growth transactions in the US and Europe.
Through this two-pronged approach, TVM Capital Healthcare Saudi hopes to strengthen the Saudi economy and improve the region’s access to innovative goods, services, and technologies. Helmut M. Schuehsler, the company’s chairman and CEO, expressed pride in attracting a sizable group of institutional and family investment groups from Europe, the GCC, and Saudi Arabia. They are funding domestic businesses in the Kingdom as well as foreign businesses in the market through a specialized capital pool.
“Our leadership team includes local Saudi healthcare experts along with executives with extensive experience in Europe and the US who have developed strong international networks over their careers, which puts us in a unique position for success,” he said.
With a particular focus on Saudi healthcare investment since 2015 through their former portfolio firms, ProVita International Medical Center and Cambridge International Medical Center, the chairman noted that their investment journey in the GCC and Egypt spans more than 13 years.
“We are really pleased about our ability to improve access to high-quality patient care, medical products, and treatment regimens throughout the Kingdom today by strengthening the local and regional healthcare ecosystem on a much larger scale,” Schuehsler stated.
The fund’s initial investments include DEBx Medical, an Amsterdam-based developer and manufacturer of cutting-edge products for treating chronic wounds poised to enter the Saudi market, and Baraya Extended Care, a chain of long-term, post-acute care and rehabilitation clinics headquartered in Riyadh. Furthermore, the Munich-based Neurocare Group, which offers individualized mental health treatments and products with facilities in the US, the Netherlands, and Australia, is preparing to expand into Saudi Arabia and the GCC.
Other agreements include manufacturing and diagnostics, oncology and medicines, and lifespan and genetics, the release stated. Along with supporting operations in Boston and Munich, TVM Capital Healthcare Saudi has offices in Ho Chi Minh City, Singapore, Dubai, and Riyadh.
The firm was represented at the fundraiser by the international law firm Morgan Lewis.
