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Dubai / Emirates business
Gulf Capital, one of the largest and most active alternative asset managers in the Middle East, announced on Monday that it has acquired a 70 percent stake in Medica Holding, the leading service provider of aesthetics, cosmetics and dermatology equipment and products across the Middle East.
Gulf Capital is actively targeting investments in the fast-growing beauty and healthcare sectors, which are expected to register double digit growth rates across emerging markets. In particular, the $10 billion health aesthetics market is projected to grow at 10 percent annually over the next five years, driven by rising GDP per capita, the growing global adoption of minimally invasive and non-invasive cosmetics procedures, increased public awareness and acceptance from men and women, as well as technological advancements.
Following its partnership with Gulf Capital, Medica aims to enhance its footprint in Mena region and expand across Africa and Asia via organic growth and acquisitions and to broaden its service offerings into new aesthetics verticals.