Cupid invests in GII Healthcare Investment; enters Gulf region
Cupid Ltd
on Wednesday announced a strategic investment in
GII Healthcare Investment
Ltd, a healthcare-focused investment vehicle managed by
Gulf Islamic Investments
(GII).
The company, which is into the production of
male and female condoms
, water-based personal lubricants, IVD kits etc, however, did not share the financial details.
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GII Healthcare Investment Limited holds a significant minority equity stake in a prominent healthcare provider based in Saudi Arabia. GII is a leading investment firm with assets under management exceeding USD 3.5 billion across Saudi Arabia, UAE, Europe, the US and India.
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"This investment represents a secure, dollar-denominated asset, and lays the foundation for Cupid's entry into the Gulf region,"
Cupid Ltd
Chairman and MD Aditya Kumar Halwasiya said in a regulatory filing.
The company's
personal care products
align strongly with the patient demographic in the GCC, creating future synergies and huge distribution opportunities, he added.
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