IDB Infrastructure Fund II invests in AVIVO Group to help expand the geographic footprint of the platform

AVIVO Group (“AVIVO”), one of the largest healthcare networks in the GCC, with 32 healthcare facilities in the region, is pleased to announce its partnership with IDB Infrastructure Fund II (the “Fund”), sponsored by the Islamic Development Bank and other institutional investors. The Fund has completed a significant investment in AVIVO to help expand AVIVO’s healthcare platform regionally.

The IDB Infrastructure Fund II, with commitments of US$ 750 Mn, invests in infrastructure opportunities across Asia, Middle East and Africa. The Fund is managed by ASMA Capital Partners B.S.C. (c).

Commenting on the partnership, Mr. Shailesh Dash, Chairman of AVIVO Group said “AVIVO is extremely happy to partner with IDB Infrastructure Fund II. This partnership allows us to enhance both execution and value creation in new territories in the region, and we strongly believe this partnership will bring more value to AVIVO’s upcoming IPO.”

Mr. Amitava Ghosal, CEO and Board Member of AVIVO Group also expressed his pleasure in having IDB Infrastructure Fund II as a valuable partner for future growth. “AVIVO has grown tremendously in the past five years across multiple locations and diverse specialties. We have been in discussions with the Fund over the past few months, and we see great opportunities in working together to further strengthen AVIVO’s market position as a leading integrated healthcare service provider in the region and beyond. AVIVO is set to enter Oman, Qatar, Saudi Arabia and South East Asia over the next phase of growth. During the next two years, AVIVO will be present in 5 of the 6 Gulf countries”, added Mr. Ghosal.

“This is an opportune time to invest in the healthcare sector and we are delighted to partner with AVIVO’s high caliber management team, with its proven track record in the development and management of a region-wide healthcare network.” said Mr. Stephen Vineburg, CEO of ASMA Capital Partners B.S.C. (c). “AVIVO’s operational expertise in conjunction with our partnership, further strengthens AVIVO’s position to explore new geographies and become a premier healthcare services company in the region.”

About AVIVO Group

AVIVO Group is an entity established by A M Partners Limited as its healthcare initiative. AVIVO established in February 2011 with the vision to create one of the largest integrated healthcare networks in the MENA and South-East Asia comprising hospitals, medical centres, niche surgical facilities, diagnostic facilities, tertiary care centres and other related assets. 

AVIVO currently owns and operates 32 healthcare facilities, including 2 highly reputed hospitals, 14 specialty centres, 8 high-end dental centres, 6 pharmacies, and 2 state of the art diagnostic facilities. These include ‘AVIVO GROUP Hospitals’, specialized ‘AVIVO GROUP Clinics’, and accessible ‘PrimaCare Clinics’ and ‘PrimaCare Pharmacies’. AVIVO employs over 200 doctors, specialized in 22 medical specialties, and has a staff capacity of more than 1,000 experienced and well trained medical professionals. Annually, AVIVO offers world class medical services to more than 1.3 million patients.