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By Tanko Mohammed<\/strong><\/p>\n\n\n Vantage Capital, Africa\u2019s largest mezzanine fund manager, has announced that it has made a $28.0 million equity investment to acquire a significant minority shareholding in the Cliniques Internationales du Maroc Group (\u201cCIM Sant\u00e9 Group\u201d).<\/p>\n\n\n The business was founded in 1994 by Professor Assad Chaara, an internationally renowned cardiologist who pioneered coronary angiography and catheterisation in Morocco, and the company has since grown into one of Morocco\u2019s leading healthcare groups.<\/p>\n\n\n CIM Sant\u00e9 Group is made up of the following entities:<\/p>\n\n\n The Heart and Vascular Diseases Clinic established in 1994 in Rabat (20 beds, 2 theatres); The International Clinic of Marrakech created in 2011 in Marrakech (100 beds, 5 theatres); and The International Clinic of Tangier, currently under development and expected to be fully operational in Q4 2020 (200 beds, 10 theatres).<\/p>\n\n\n CIM Sant\u00e9 Group also owns radiology centres, medical laboratories and laundry service companies in Marrakech and Tangier.<\/p>\n\n\n Vantage\u2019s funding will enable the founding family to part-finance the extension of the existing clinic in Marrakech and the opening of new clinics in Tangier and Casablanca.<\/p>\n\n\n Thereafter, CIM Sant\u00e9 Group plans to further strengthen its position in the Moroccan market by adding more clinics to its portfolio as well as entering new markets in the rest of Africa.<\/p>\n\n\n Pf. Assad Chaara, Founder of CIM Sant\u00e9 Group, commented, \u201cI am delighted to have witnessed the continued growth of CIM Sant\u00e9 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.\u201d<\/p>\n\n\n Dr. Fahd Chaara, CEO of CIM Sant\u00e9 Group, added, \u201cWe feel that, with Vantage\u2019s financial support and strategic guidance, we are up for the challenge of building on the wonderful legacy created by my father and developing Morocco\u2019s finest private sector health group, housing a broad range of medical disciplines and covering all of the Kingdom\u2019s major cities.<\/p>\n\n\n With Vantage we will also investigate the opportunity of expanding the business into West Africa in the next few years.\u201d<\/p>\n\n\n This transaction represents Vantage Capital\u2019s 30th transaction across three generations of mezzanine funds with its portfolio of investments spread across ten countries in Africa.<\/p>\n\n\n Much of Vantage\u2019s focus has been on \u2018hard\u2019 and \u2018soft\u2019 infrastructure which has included a power business in Ghana, gas distribution in Cote d\u2019Ivoire, mixed-use developments in Nigeria and Mauritius and fibre-optics businesses in South Africa.<\/p>\n\n\n CIM provides the opportunity for Vantage to contribute meaningfully to the further development of the Moroccan private healthcare sector by funding the opening of new world-class hospitals in Morocco and in the region.<\/p>\n\n\n CIM Sant\u00e9 Group is Vantage\u2019s second investment in Morocco after its investment in Equity Invest, an IT group last year, and its third in Francophone Africa.<\/p>\n\n\n Luc Albinski, Managing Partner at Vantage Capital, noted that \u201cVantage is proud to have concluded its largest growth-capital investment to date.<\/p>\n\n\n 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.<\/p>\n\n\n 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.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":" By Tanko Mohammed Vantage Capital, Africa\u2019s largest mezzanine fund manager, has announced that it has made a $28.0 million equity investment to acquire a significant minority shareholding in the Cliniques Internationales du Maroc Group (\u201cCIM Sant\u00e9 Group\u201d). The business was founded in 1994 by Professor Assad Chaara, an internationally renowned cardiologist who pioneered coronary angiography […]<\/p>\n","protected":false},"author":1,"featured_media":25483,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[125,126],"tags":[66],"class_list":["post-25482","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance-money","category-trade-and-industry","tag-investment","has-post-title","has-post-date","has-post-category","has-post-tag","has-post-comment","has-post-author",""],"yoast_head":"\n