The Abraaj Group acquires majority stakes in Al Kindy and Menara to create the largest private oncology and imaging diagnostics network in Morocco

Casablanca, Morocco, Capital Markets in Africa — The Abraaj Group (‘Abraaj’ or the ‘Group’), an investor operating in global growth markets, announced the acquisition, through its second generation North Africa Fund, of a majority stake in Centre de Traitement Al Kindy (‘Al Kindy’), Casablanca’s private oncology clinic, and Clinique Spécialisée Menara (‘Menara’), an oncology and imaging diagnostics center in Marrakech. Al Kindy and Menara together form the largest private integrated network of imaging diagnostics and cancer treatment centers in Morocco with 12 doctors who are expected to collectively treat more than 10,000 patients in 2015. The network will expand over time to include partnerships with domestic and international oncology and imaging diagnostics centers in order to extend its services and reach.

Commenting on the investment, Ahmed Badreldin, Partner and Regional Head of Middle East and North Africa for The Abraaj Group, said: “This new network for cancer treatment and imaging diagnostics centers in Morocco represents a unique opportunity to bring our significant global healthcare experience into a more specialized field. Through the network, we will build on synergies to optimize provision of quality healthcare, improve facilities and processes, and encourage knowledge sharing between the different medical teams in order to enhance the overall quality and patient experience at each treatment center. We look forward to playing our part in raising standards for affordable, high quality cancer treatment for patients in Morocco.” 

Anas Guennoun, Director at The Abraaj Group, also commented: “Our investment into Al Kindy and Menara is focused on the need to provide better quality cancer treatment facilities in Morocco. Over the years, we have seen a rise in the incidence of non-communicable diseases, especially cancer, alongside a shortfall of quality Moroccan healthcare systems to treat such conditions. Al Kindy and Menara have excellent reputations in the market, with an experienced medical team, strong partnerships with state and private insurance companies, and the capacity to further grow services and facilities to provide outstanding patient care.”