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Cupid invests an additional $5 million in GII Healthcare platform
The follow-on investment is funded entirely from Cupid internal accruals, and the company said it is made at an attractive valuation while keeping its stake size undisclosed.
Cupid has made a regulatory filing announcing an additional $5 million investment in GII Healthcare Investment Limited, a healthcare-focused investment platform managed by GII, according to LiveMint Markets. The company said the new funding follows an initial investment and reflects its view of the platform's long-term value creation potential. Cupid said the $5 million was funded entirely through internal accruals. The company also stated the investment was made at an attractive valuation, which it said gives it additional opportunity to participate in GII's future growth, while it did not disclose the size of its stake after the latest transaction.
In the filing, Cupid said GII holds a significant equity stake in a leading healthcare provider based in Saudi Arabia. The company linked its decision to expectations that GCC healthcare demand will keep rising, citing higher healthcare expenditure, expanding populations, increased insurance penetration, and sustained government investment across the region.
LiveMint Markets also noted that GII has assets under management exceeding $3.5 billion, with a presence in Saudi Arabia, the UAE, Europe, the United States, and India. Cupid pointed to GII's track record of healthcare investments, including Abeer Medical Company and AlMeswak Dental Company.