Gulf Capital Acquires 70% of Medica
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 per cent 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.
Founded in 1999, Medica has evolved into a prominent end-to-end service provider in the aesthetics sector with a portfolio of over 20 international brands across 12 countries. Its services range from consulting and education to logistics and marketing across four aesthetics verticals: equipment, injectables, cosmetics and para-pharmaceuticals. 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.
Dr Karim El Solh, CEO of Gulf Capital, said: "We are delighted to partner with Medica, the leading aesthetics and cosmetics service provider in the Middle East and are excited to fund its ambitious growth and future expansion plans across emerging markets. Medica's track-record is one of continuous innovation and growth, and it has demonstrated its ability to pioneer aesthetics and non-invasive procedures in the Middle East for over 20 years. This investment in the dominant market leader gives Gulf Capital a strong exposure to the fast growing aesthetics and cosmetics sectors and allows us to capitalise on the growing consumer and healthcare trends in the region."Elias Chabtini, CEO and co-founder of Medica Holding, said: "We are excited to embark on this new chapter in Medica's journey alongside Gulf Capital, a firm with a wealth of experience and operational expertise that will support our expansion and growth plans. The Medical Aesthetics sector is among the fastest growing sectors globally and Medica is uniquely positioned to play a key role regionally and across emerging markets.
Our partnership with gulf capital is a major step towards reaching our goal of becoming the leading player in emerging markets as we expand across new geographies and complement our portfolio offerings with leading technologies across all aesthetic verticals.
