Leading alternative asset management company Gulf Capital has recently acquired a controlling stake in ACCUMED Practice Management, the top Revenue Cycle Management (RCM) firm in the GCC.
According to the company’s Press Release, after the acquisition the company will continue to render services and look for new possibilities to boost its operations.
Chief Executive Officer of Gulf Capital, Dr Karim El Solh, said the company’s investment in ACCUMED is a significant moment for Gulf Capital because of great investor opportunities in the healthcare industry in the GCC. “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.”
ACCUMED is a major player in RCM in the Middle East. So far, the company has recorded over nine million medical claims worth more than AED1.4bn. Comprehensive business process outsourcing, medical coding, technology solutions, consultancy services and staff augmentation, covering all medical insurance billing needs for hospitals, clinics, diagnostic centres and other healthcare providers are some of the services provided by ACCUMED.
Founder and CEO of ACCUMED, Dr Ayham Refaat, said: “ACCUMED is thrilled to partner with Gulf Capital, whose support and growth capital will allow us to extend our market leadership position and to accelerate our growth in the UAE, KSA and other regional markets.”
Gulf Capital is known for its leading role in technology investments in the GCC. The RCM industry is expected to grow 20% in the UAE and the Kingdom of Saudi Arabia, and the recent acquisition will allow both companies to seek growth in the Middle East.