| GE Healthcare invest in Shefa Healthcare Fund |
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A celebratory dinner was held at the Monarch Hotel, Dubai, on Wednesday 30th January 2008 to celebrate the announcement that GE Healthcare had invested in the Shefa Healthcare Fund.
Fawzi Zeine, Principal, Fund Manager, Injazat Capital; Don Kay, Chairman, VHA Global; Issam GE Healthcare and Peter Dumble, Chief Analyst, VHA Global enjoy a pre-dinner chat at the function to mark GE Healthcare’s investment in the Shefa Healthcare Fund. Shefa Healthcare Fund is a US$100m private equity fund focusing solely on healthcare. The objective of the fund is to increase the quality and affordability of private healthcare services through the establishment of the first comprehensive healthcare network in the region. Shefa Healthcare Fund’s active investment strategy identifies well established hospitals and healthcare companies that it can develop by introducing operating efficiencies, modern financial controls, technical best practice and corporate governance. The International Finance Corporation (IFC), the “private” arm of the World Bank, has already invested in the Shefa Healthcare Fund. This investment was marked by a well-attended ceremony in late May last year. At that ceremony, Fawzi Zeine, Principal Fund Manager for Injazat Capital, specifically made mention of the vital roles that VHA Global will play in providing due diligence on candidate hospitals prior to the investment decision and then in driving the necessary efficiency and productivity improvements once the Shefa’s funds have been committed.
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