A KKR-backed portfolio company has acquired Gulf Capital’s Middle East fertility business, marking a high-profile exit in the region’s rapidly growing healthcare sector, according to a report by Bloomberg.
IVI RMA Global, the world’s largest fertility services provider and a portfolio company of KKR, has acquired ART Fertility Clinics’ operations in the UAE and Saudi Arabia. The deal includes four clinics across the two countries. While financial terms were not disclosed, Gulf Capital described the transaction as one of its most successful exits to date.
Gulf Capital originally acquired the Middle East operations of IVI RMA in 2019 for over $100m, subsequently rebranding the platform as ART Fertility Clinics and expanding its footprint across the region and into India. The firm will retain ownership of ART Fertility’s India operations.
The sale was advised by Moelis & Co, with Gulf Capital reportedly exploring options to streamline its healthcare portfolio amid growing investor interest in specialty medical services in the GCC.
The acquisition comes as international private equity firms deepen their exposure to the Gulf’s healthcare and consumer sectors. Regional governments – often through sovereign wealth entities – have poured capital into medical infrastructure over the last two decades, helping catalyse demand for advanced specialty care services as demographics shift and incomes rise.
KKR, which acquired IVI RMA in 2021, has continued to back its global expansion strategy. The firm has also been expanding its presence in the Middle East, appointing former US General David Petraeus as Chairman of its regional operations in April and actively building out a local investment team.
Global sponsors including Brookfield, CVC Capital Partners, Warburg Pincus, and Permira have also been ramping up Middle East activity, with several establishing on-the-ground teams to target opportunities across healthcare, consumer, and infrastructure.
