Casablanca-based Cliniques Internationales du Maroc Receives $28 Million Investment from Vantage Capital

Vantage Capital said it has made a $28 million equity investment to acquire a significant minority stake in Cliniques Internationales du Maroc Group. The Casablanca-based hospital group intends to expand its clinics in Marrakesh whilst opening new ones in Casablanca and Tangier.

A press statement seen by Business Elites Africa also noted that Cliniques International du Maroc  is considering entering other markets across Africa. Part of the statement quoted the hospital’s Founder, Dr Fahd Chaara, to have said:

“We feel that, with Vantage’s financial support and strategic guidance, we are up for the challenge of building on the wonderful legacy created by my father and developing Morocco’s finest private sector health group, housing a broad range of medical disciplines and covering all of the Kingdom’s major cities. With Vantage we will also investigate the opportunity of expanding the business into West Africa in the next few years.”

Cliniques Internationales du Maroc, which specialises in heart and vascular diseases, was established 1994 by Professor Assad Chaara. Since then, it had gone from its 20 beds and 2 theaters location in Rabat to open a 100 bed and 5 theatres facility in Marrakech back in 2011. A 200 beds and 10 theatres Clinic in Tangier is expected to become operational this Q4 2020.

Do note that Cliniques Internationales du Maroc Group also owns radiology centres, medical laboratories and laundry service companies in Marrakech and Tangier.

Meanwhile, this is one of Vantage Capital’s most significant investment to date. The company’s Managing Partner, Luc Albinski, commented on this saying:

“Vantage is proud to have concluded its largest growth-capital investment to date. It is always pleasing when our funds are applied towards building new, leading-edge infrastructure in Africa whether it takes the form of power plants, fibre networks or hospitals. But given the impact that world-class health care can have on patients and on their families, in many cases saving lives that would prematurely succumb to heart disease and other medical conditions, this investment, at this time, with the COVID epidemic raging, is a source of great joy and pride for the Vantage team.

“I am delighted to have witnessed the continued growth of CIM Santé Group over the past years. After helping to create a world-class centre of excellence in cardiology in Morocco, I am proud to pass the torch to my son Dr. Fahd Chaara who will work hand-in-hand with Vantage to further expand the CIM franchise.”