‘Al Masah Capital Limited' rebrands ‘Healthcare MENA Limited' to ‘AVIVO GROUP'

• Announced plans to invest around OR115 million (USD 300 million) for expansion plans into the GCC
• ‘AVIVO GROUP’to expand presence intoOman by end of 2015as theSultanate’s healthcare market shows signs ofgrowth by 8.9% in the next 3 years

Muscat - Oman - November 7th, 2015:‘Al Masah Capital Limited’, one of the region’s leading alternative investment and asset management firms, has announced the rebranding of its healthcare private equityinitiative, ‘Healthcare MENA Limited’ (HML), to ‘AVIVO GROUP’. The group has also announced ambitious plans to expand into Omanby end of 2015, and have reasoned the expansion to the massive opportunities in the Sultanate’s healthcare market which is expected to grow by 8.9% over the next 3 years.

‘Al Masah Capital Limited’ revealed its plans to invest around OR115 million (USD 300 million) to support the growth and regional expansion of ‘AVIVO GROUP’ in Oman and other GCC countries within the next two years. This investment will increase the number of healthcare facilities operating under the ‘AVIVO GROUP’ brand from 32 to 50. This expansion is set to create more than 1,000 new job opportunities for GCC residents, and at the same time increase the annual reach of the group’s medical services from 1.3 million patients to almost 2 million patients all over the GCC region.

‘Al Masah Capital Limited’ research indicates that Oman’s healthcare sector is an essential sector in the Sultanate’seconomic growth, which is benefitting from rising government expenditure, a robust banking sector, and a drive to expand labour intensive SMEs. Between 2010 and 2018 the healthcare expenditure CAGR stood at 8.6%.

“Al Masah Capital is very active in alternative investment strategies. We believe in securing returns for investors while focusing on socially relevant sectors such as healthcare and education. AVIVO GROUP healthcare network is set to become one of the largest in the region, and we are focussing our efforts to enter new markets such as Oman,” said Shailesh Dash, Founder, CEO and Board Member of ‘Al Masah Capital Limited’ and Chairman of ‘AVIVO GROUP’.

Healthcare markets in the GCC are extremely promising and remain undersupplied despite rapid growth. In fact, data suggests that the GCC healthcare market is projected to continue growing at an annual rate of 11.1% to hit USD 87 billion by 2018. In Oman, the healthcare system is still largely supported by government spending - with 80% of healthcare facilities and services financed by the government.

“The opportunities are immense,” said Amitava Ghosal, Executive Board Member and CEO of ‘AVIVO GROUP’. “Healthcare spending in Oman is expected to increase. The private sector is already playing a key role in providing healthcare to Omani citizens and residents. This is a market that is expected to grow 8.9% between 2015 and 2018 to hit USD 3.1 billion by 2018.

“AVIVO GROUP believes that virtuous public private partnerships can introduce innovation in healthcare, and will definitely help the Omani government meet rising demand for excellent health services through world class facilities. Our plans are closely aligned with those of the Omani government, which is spending considerably on healthcare initiatives and wants to attract world class facilities and operators to the country,” added Ghosal.

‘AVIVO GROUP’ currently manages and operates 2 hospitals, 14 speciality centres, 8 high-end dental centres, 6 pharmacies, and 2 diagnostic facilities. In addition to employing more than 200 highly qualified doctors, specialized in 22 medical specialities, ‘AVIVO Group’ has a staff capacity of more than 1,000 experienced and well trained medical professionals.

The rebranding comes as part of an overall strategy to position ‘AVIVO GROUP’ as one of the largest integrated healthcare services providers in Oman and the region. The unified brand, ‘AVIVO GROUP’, will ensure consistency in operating procedures, best practices and corporate values across all operations in current and future markets. The rebranding also reflects the commitment that ‘Al Masah Capital Limited’ has held to invest in socially relevant sectors, such as healthcare and education, that positively touch people’s lives.

In the past few years, ‘AVIVO GROUP’ has successfully expanded its presence in Abu Dhabi, Dubai, and Sharjah as well as in Kuwait. The group has plans to strengthen its presence in those cities and expand its network into new markets, such as Oman, Qatar, Saudi Arabia and South East Asia, with further details to be announced by the group atlater stages. During the next two years, ‘AVIVO GROUP’ will be present in 5 of the 6 Gulf countries.