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Kaya Middle East forms Joint Venture for Oman Dermatology Clinics

Nov 3, 2023

By: BlinkX Research Team

Kaya Middle East FZE (FZE) has established a joint venture with Khimjis Ramdas LLC (Local partner) in Oman, with FZE holding 51% and Khimjis Ramdas LLC holding 49% in Khimjis Health Care LLC (KHCLLC). KHCLLC holds licenses for two dermatology clinics in Oman, reporting a turnover of OMR 0.46 Mn in FY 22-23.

The acquisition aligns with FZE's strategic move to restructure its presence in the Gulf Cooperation Council region, enhancing the equity structure. Previously, FZE held an economic and beneficial interest in KHCLLC. The transaction involved the purchase of a 51% stake in KHCLLC by FZE, with a cash consideration of 102,000 OMR.

Over the last three years, KHCLLC's turnover through economic and beneficial interest has been OMR 0.52 Mn (FY 20-21), OMR 0.55 Mn (FY 21-22), and OMR 0.46 Mn (FY 22-23). This joint venture not only strengthens FZE's position in the dermatology clinic sector but also enhances its footprint in Oman's healthcare landscape.