Private equity firm Abraaj Group has invested in a healthcare company in Pakistan, Islamabad Diagnostics Centre, through its funds.
Founded in 2003, Islamabad Diagnostics Centre provides x-rays and other tests from 20 branches in Islamabad, Rawalpindi, Wah Cantonment and Hasanabdal.
Abraaj Group, which was founded in Dubai, says the deal is its fifth in Pakistan. The firm has deployed $1.2 billion in the healthcare sector in 29 transactions, it said.
“Increased healthcare awareness and a growing requirement for detecting lifestyle diseases is increasing the demand for diagnostics services across Pakistan,” said Hisham Moussa, managing director, Abraaj Group.
Abraaj Group may be hoping its new acquisition will follow the example set by Integrated Diagnostics Holding, a Middle Eastern firm in which Abraaj Group was an investor, which completed an initial public offering on the London Stock Exchange in 2015.
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