18-07-2024; Casablanca. Mediterrania Capital Partners (MCP), a Private Equity firm focused on growth investments for SMEs and mid-cap companies in North and Sub-Saharan Africa, is pleased to announce that its portfolio company Akdital Group has successfully completed a MAD 1 billion capital increase at the Casablanca Stock Exchange. As a result, the Moroccan hospital group’s valuation now exceeds €1 billion.
At the end of the subscription period from 2nd to 9th July, the transaction was oversubscribed 29 times, demonstrating investor confidence in Akdital’s growth potential and the strength of its business model. The total number of subscribers amounted to 16,623, including investors of 43 different nationalities.
Founded in 2010 by Dr Rochdi Talib, its Chairman and CEO, Akdital is the leading private clinic group in Morocco, operating 25 multidisciplinary and specialised health establishments across the country. Using advanced techniques and best-in-class equipment, Akdital provides a variety of healthcare services such as cardiology, cardiac surgery, neurosurgery, oncology, radiotherapy, intensive care, neonatal care, etc.
Over the tenure of MC III’s investment, Akdital has launched new medical services, opened new clinics in the Casablanca area and expanded its hospital network from 5 to 25 medical centres to cover other geographical areas such Agadir, Beni Mellal, El Jadida, Essaouira, Fes, Khourigba, Marrakech, Mohammadia, Salé, Safi and Tangiers. With the capital increase, Akdital plans to continue its expansion with the objective of having 51 medical centres across 31 cities in Morocco and 5,700 beds by 2026.
Hatim Ben Ahmed, Managing Partner at Mediterrania Capital Partners, said: “Akdital’s capital increase aims to fund the development of new healthcare facilities and the enhancement of existing ones. This strategic move is intended to reinforce Akdital’s position as a leading healthcare provider in Morocco, ensuring greater accessibility and higher quality healthcare services for the population.”
Albert Alsina, Mediterrania Capital Partners’ Founder and CEO, said: “Akdital’s expansion of its hospital network enhances healthcare accessibility, improving medical services in underserved regions, creating new jobs and boosting local economies. We are excited to support Akdital as it continues to raise healthcare standards, contributing to overall social development and public health improvement in Morocco”.
Saâd Bendidi, Mediterrania Capital Partners’ Chairman and Senior Partner, said: “Four years after our initial investment, we are very pleased to continue to be part of Akdital’s growth story. The remarkable success of its latest capital increase is a testament to the management team’s extraordinary vision and the company’s ability to flawlessly execute even the most ambitious development plans.”
