First published: 30-Jul-2025 13:02:33

Abu Dhabi – Gulf Capital, one of the largest private equity firms operating across the GCC and Asia, today announced the sale of its stake in ART Fertility Clinics in the Middle East to IVI-RMA Global, the world's largest assisted reproductive technology group. This transaction is expected to generate a significant return on investment, making it one of Gulf Capital's most successful exits to date.

Since its acquisition in 2020, ART Fertility Clinics has witnessed a period of significant growth and transformation. During Gulf Capital’s ownership, ART has transformed from a UAE-based healthcare institution into a leading regional fertility healthcare platform with 15 clinics, including three clinics in the UAE, one in Saudi Arabia, and 11 clinics in India. The transaction includes the sale of the clinics in the UAE and Saudi Arabia, while Gulf Capital will retain ownership of the clinics in India. ART Fertility Clinics has achieved significant growth in revenue and EBITDA since 2020, quadrupling profitability over the past five years in the Middle East alone. This strong financial performance is supported by ART’s reputation for excellence in clinical services, rapid regional expansion, and some of the highest success rates in IVF treatments across the region.

Dr. Karim El Solh, Co-Founder and CEO of Gulf Capital, commented: “We are proud of the transformation we have achieved at ART Fertility Clinics, expanding its business from a single country to become a leading regional platform in reproductive medicine. During Gulf Capital’s ownership, ART Fertility has invested heavily in science and research, publishing 220 medical publications to date, and launched a leading genetic testing laboratory in Abu Dhabi, resulting in some of the highest IVF success rates in the fertility industry globally. ART Fertility’s expansion and financial performance underscore Gulf Capital’s deep focus on operational improvements and growth. The successful sale of the business, following a competitive auction, to a global strategic buyer highlights Gulf Capital’s ability to acquire, grow, and exit healthcare platforms at highly attractive multiples.”

Suresh Soni, CEO of ART Fertility Clinics, said: “ART Fertility has built a strong reputation for clinical excellence and world-class patient outcomes. This success has been achieved through scientific rigor and our world-renowned medical team led by Professor Dr. Human Fatemi, as well as our deep commitment to providing the best care in our field. Gulf Capital’s support has allowed us to successfully expand across the region and has also enabled us to enhance our services, including adding in-house capabilities specifically in the field of genetic medicine. We are excited to join the IVI-RMA global platform and continue to deliver on our mission and commitment to the Gulf community.”

Hazem Abu Khalaf, Managing Director of Gulf Capital, added: “Our investment in ART Fertility Clinics is a clear example of Gulf Capital’s ability to drive operational improvement and strategic growth in the most impactful sectors. As one of the most dynamic and rapidly evolving sectors in the GCC, healthcare continues to offer high-impact, long-term growth opportunities. ART Fertility is a testament to this potential. Over the past few years, we have helped build an organization that combines scale, profitability, and clinical leadership – three elements that are often difficult to reconcile. We are confident that ART Fertility is well-positioned to continue its success in the next phase of growth led by IVI-RMA Global, and we are proud to have laid the foundation for its continued success in developing specialized healthcare in the region.”

Moelis & Company advised Gulf Capital and ART Fertility Clinics as mergers and acquisitions advisor, and A &O Shearman as legal advisor on the transaction.

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About Gulf Capital

Gulf Capital is a private equity firm focused on operational improvement with over nineteen years of experience in the Gulf markets and across Asia, one of the world's fastest-growing investment regions. Gulf Capital partners with dynamic entrepreneurs and excellent management teams to provide growth capital, strategic advice, and operational expertise to help them build leading global companies. The firm has a long and successful track record of investing in growth markets, having closed 45 investments since its inception in 2006. It currently manages over USD 2.4 billion in assets across seven funds and investment vehicles. As a sector-specific investor, Gulf Capital focuses on strong, resilient, and future-oriented sectors such as technology, fintech, healthcare, business services, consumer, and sustainability. The firm's goal is to create value while embracing world-class governance and applying best practices in environmental, sustainability, and governance (ESG) concepts, and through a deep focus on operational improvements and sector expertise, it delivers sustainable and superior performance for all its stakeholders.

About ART Fertility Clinics

Established in 2015, ART Fertility Clinics is a globally recognized fertility treatment company known for its clinical excellence, scientific research, and outstanding patient outcomes. The company operates across the UAE, Saudi Arabia, and India.

About IVI -RMA Global

IVF-RMA Global is a global leader in reproductive medicine, committed to providing personalized, high-quality fertility and reproductive healthcare powered by science, technology, and compassionate care. Through its growing network of clinics, the organization empowers individuals and couples to build the families of their dreams, safely, effectively, and with unwavering support every step of the way.

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