TLA represented ACCUMED Practice Management DMCC in the sale of equity stake to Gulf Capital

Tribonian Law Advisors (“TLA”) announced that it has represented ACCUMED Practice Management DMCC (“ACCUMED”), the leading revenue cycle management (RCM) company in the GCC, in the sale of a majority stake in its share capital to Gulf Capital, one of the largest and most active alternative asset management firms in the Middle East.

Dr. Ayham Refaat, founder and CEO of ACCUMED, 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. In addition to aggressively growing our core outsourced RCM business, the partnership with Gulf Capital will also allow us to add new services and to invest in cutting-edge technology to streamline and automate workflows – something our hospital clients don’t have the scale or the appetite to do in-house. We are excited about this new chapter in ACCUMED’s growth story in partnership with Gulf Capital.”

Carlo Pianese, partner at TLA, commented,“We are very pleased to have acted as legal advisor to ACCUMED, the leading revenue cycle management provider to the fast-growing healthcare industry in the GCC. This transaction has once again established TLA’s position as one of the leading regional M&A players expanding its growth across the region and other international markets”.

The TLA team was led by the firm’s managing partner, Rindala Beydoun and partners Carlo Pianese and Emile Boulos, who were assisted by associates Maryline Kalaydjian and Shiladitya Majumdar. Guggenheim KBBO Partners and TLA acted respectively as financial and legal advisors to the sellers. Ernst & Young acted as the financial and tax advisor, Alvarez and Marsal acted as the commercial advisor and Eversheds Sutherland acted as the legal advisor to Gulf Capital on this transaction.