Gulf Capital acquires 70% of Medica

Business Bureau, Gulf Today

Gulf Capital, one of the largest and most active alternative asset managers in the Middle East, has announced that it has acquired a 70% 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 US$10 billion health aesthetics market is projected to grow at 10% 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, Chief Executive Officer 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.