Published: July 16, 2010
Specialty healthcare fund backs ventilation provider.
TVM Capital MENA, a shariah-compliant dedicated private equity fund targeting specialty healthcare services in the Islamic world, has completed its first investment.
The firm, a subsidiary of German group TVM Capital, has made an undisclosed investment in Pro Vita, an Abu Dhabi-based provider of long-term care to patients requiring ongoing ventilation support.
The investment is in-line with TVM Capital MENA’s strategy of targeting specialty operators addressing regional medical needs.
TVM Capital MENA’s managing director, Marios Fotiadis, says this deal is a “sound validation” of the firm’s strategy of supporting areas of healthcare overlooked by the local market.
“There is a significant growth need for long-term care facilities supporting patients on ventilation across the MENA and our objective is to expand the Pro Vita concept in other Middle East countries over the coming months,” he adds.
Pro Vita is the first in the region to offer long-term care and rehabilitation for ventilated patients in a non-hospital setting. It will be staffed by German physicians who will support up to 42 patients.