Abu Dhabi Private Equity Firm Buys Two U.S. Healthtech Companies

Gulf Capital PJSC acquired two U.S. health-care technology firms for $60 million as the Abu Dhabi-based buyout firm doubles down on investing in the specialized medical sector.

The private equity firm bought a majority stake in Eclat Health and Hansei Solutions, adding to a portfolio of companies that help hospitals with their billing, work with their insurers and improve collection and reduce rejections, said Gulf Capital’s chief executive, Karim El Solh.

Following the latest investment, Gulf Capital deployed around 78% of its flagship $750 million buyout fund, leaving it with around $165 million to spend. It might consider raising a new fund next year, El Solh said.

Besides health care, Gulf Capital focuses on sectors such as technology and payments, business services and sustainability. Last year, it purchased three regional fertility clinics in a $100 million deal.

El Solh said his firm is drawn to the health industry in part because of the growing population in the Gulf, where oil-rich governments are spending more on providing medical services to their citizens.

“We are very excited about health-care and health-tech and the intersection of technology and health-care,” El Solh said. “We hope to do more of those deals because long-term these are wining sectors.”

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