Eversheds Sutherland advises Gulf Capital on its acquisition of a controlling stake in ACCUMED

Eversheds Sutherland has advised Gulf Capital on its acquisition of a controlling stake in ACCUMED Practice Management, the leading revenue cycle management (RCM) company in the GCC. Gulf Capital is one of the largest and most active alternative asset management firms in the Middle East.

ACCUMED leverages its proprietary technology and processes to help public and private healthcare providers in the UAE, KSA and Kuwait to improve medical documentation, enhance billing cycles, optimise revenues and accelerate collections. The firm is the first, and currently the largest, in the Middle East to offer RCM managed services, and has managed more than nine million medical claims worth over AED4.1 billion till date.

This latest acquisition represents Gulf Capital’s fourth investment in the technology sector. Gulf Capital has become one of the largest technology investors in the GCC, having injected to date over half a billion dirhams in regional technology, internet and e-commerce companies.

The Eversheds Sutherland Middle East team was led by Partner Zeid Hanania, with assistance from principal associate Hani Nassef and associates Ramzi Noursi and Eliza Grant.

Dr. Karim El Solh, Chief Executive Officer of Gulf Capital, commented: “This strategic investment in ACCUMED is an exciting one for Gulf Capital, as it offers our investors exposure to the fast-growing healthcare industry in the GCC, but without the capital intensity or regulatory risks usually associated with investments in the industry. ACCUMED is the clear market leader in revenue cycle management in the GCC, and we look forward to funding and supporting the growth of the company, so it can continue to deliver enhanced operational and financial performance improvements to healthcare providers in the GCC."

Zeid Hanania said: “We are delighted to have supported the Gulf Capital team on this important transaction and look forward to continuing to work with them on future transactions across the region.”