GE Healthcare will join the impressive list of investors including IFC-the private equity sector arm of the World Bank Group, Saudi Healthcare Investment Company, Zabeel Investments and ICL- the operator of the fund.
SHF is a $100m private equity fund focusing solely on healthcare. The objective of the fund is to increase the quality and affordability of private healthcare services through the establishment of the first comprehensive healthcare network in the region. GE's investment brings technical expertise and industry experience to SHF as well as clearly shows GE's strong commitment to the region.
"Participating in this project complements the company's already strong involvement in the region in sectors as wide-ranging as infrastructure, aviation, oil and gas and healthcare. The Middle East region has all the key drivers that are favorable for the growth of GE businesses," said GE's Chairman of the Board and Chief Executive Officer, Jeffrey Immelt during his visit to the region.
"We are pleased to support Shefa Healthcare Fund's initiatives that will help transform regional healthcare delivery," added Immelt.
Hussein Rifai, Managing Director of Injazat Capital, said, "By establishing strategic privileged cooperation with key global players like GE Healthcare, SHF will accelerate the development of a modern and efficient health network to help improve healthcare and provide high-quality management and medical standards."
SHF's active investment strategy identifies well established hospitals and healthcare companies that it can develop by introducing operating efficiencies, modern financial controls, technical best practice and corporate governance.
The Middle East and North Africa region is considered to be one of the fastest growing healthcare infrastructures. Healthcare providers are facing increasing demand for more and better quality services from patients and enhanced performance and profitability from shareholders.
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GE Healthcare announces participation in Shefa Healthcare Fund
- United Arab Emirates: Thursday, January 31 - 2008 at 10:17
- PRESS RELEASE
GE Healthcare, a $17bn business of General Electric Company (GE), announced an investment in Shefa Healthcare Fund (SHF) managed by Injazat Capital Limited (ICL).
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About GE Healthcare:GE Healthcare provides transformational medical technologies and services that are shaping a new age of patient care. Our expertise in medical imaging and information technologies, medical diagnostics, patient monitoring systems, performance improvement, drug discovery, and biopharmaceutical manufacturing technologies is helping clinicians around the world re-imagine new ways to predict, diagnose, inform, treat and monitor disease, so patients can live their lives to the fullest.
GE Healthcare's broad range of products and services enable healthcare providers to better diagnose and treat cancer, heart disease, neurological diseases and other conditions earlier. Our vision for the future is to enable a new "early health" model of care focused on earlier diagnosis, pre-symptomatic disease detection and disease prevention. Headquartered in the United Kingdom, GE Healthcare is a US$17 billion unit of General Electric Company (NYSE: GE). Worldwide, GE Healthcare employs more than 46,000 people committed to serving healthcare professionals and their patients in more than 100 countries. For more information about GE Healthcare, visit our website at www.gehealthcare.com.
For further information, please contact:
Heather McPhail / Adnan Abdel-Razzak
ASDA'A Public Relations
Exclusive Affiliate of Edelman PR Worldwide in Middle East and North Africa
Tel: (+971 4) 334 4550
About Shefa Healthcare Fund:
Shefa Healthcare Fund is a Domestic Islamic Private Fund established by Shefa CEIC Limited, a company limited by shares and incorporated in the Dubai Financial Services Centre. Shefa Healthcare Fund is operated by Injazat Capital Limited.
About Injazat Capital Limited:
Injazat Capital Limited is a leading asset management and investment banking financial institution, delivering innovative solutions to institutional and individual investors. Registered in the renowned Dubai International Financial Centre, and regulated by Dubai Financial Services Authority, Injazat Capital delivers a range of Sharia compliant financial services that include fund management, investment banking, corporate advisory and other innovative financial services.
For further information on Shefa Healthcare Fund and Injazat Capital Limited, please contact:
Rania Chidiac
Marketing Manager
Injazat Capital Limited
Tel: +971 (4) 3651500
Posted by Lara Lynn Golden, News EditorThursday, January 31 - 2008 at 10:17 UAE local time (GMT+4)
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