Gulf Capital, one of the GCC’s largest private equity firms, has completed the sale of its majority stake in ART Fertility Clinics’ Middle East operations to IVI-RMA Global, the world’s largest assisted reproduction group. The deal, concluded after a competitive bidding process, is considered one of Gulf Capital’s most successful exits, delivering significant returns on invested capital.
Acquired by Gulf Capital in 2020, ART Fertility Clinics rapidly expanded from a UAE-based operator into a major regional fertility platform. By the time of the sale, the group had established 15 clinics, including three in the UAE, one in Saudi Arabia, and 11 in India. The current transaction includes the UAE and Saudi clinics, while Gulf Capital retains ownership of the Indian operations.
ART Fertility’s growth under Gulf Capital has been marked by a quadrupling of profitability and significant increases in both revenue and EBITDA. The platform also invested heavily in research and innovation, launching a pioneering genetic testing laboratory in Abu Dhabi and producing over 220 medical publications. Its success rates in IVF treatments rank among the highest in the region, further strengthening its reputation for clinical excellence.
Dr. Karim El Solh, Co-Founder and CEO of Gulf Capital, described the transformation as a landmark achievement. “We scaled ART Fertility from a single-country operator to a regional leader,” he said. “Our strategy of operational enhancement and expansion positioned ART for a successful global acquisition. This deal reflects our ability to grow and exit healthcare platforms at attractive multiples.”
Suresh Soni, CEO of ART Fertility Clinics, credited Gulf Capital’s support for enabling rapid regional growth and service enhancement. “Our success has been built on scientific rigour and a world-class medical team led by Prof. Dr. Human Fatemi. We are now ready to join IVI-RMA’s global platform to deliver even greater impact in reproductive care,” he said.
Hazem Abu Khalaf, Managing Director and Head of Healthcare Investments at Gulf Capital, emphasized the strategic importance of the healthcare sector in the region. “Our investment in ART Fertility shows how we can scale high-impact, fast-growing businesses that deliver both financial return and social value. We’re confident ART is poised for continued success under its new global ownership.”
The deal marks another major milestone for Gulf Capital as it continues to target investments in sectors with strong long-term growth potential, particularly healthcare. The transaction was advised by Moelis & Company as M&A advisor and A&O Shearman as legal counsel.
The sale of ART Fertility to IVI-RMA not only underscores the growing value of specialized healthcare in the GCC but also signals increased interest from global medical leaders in the region’s robust clinical platforms.
