(Ecofin Agency) - • Mediterrania Capital Partners finalizes full sale of its 10.5% stake in Akdital.
• Exit comes after Akdital’s strong financial growth and a major capital increase in 2024.
• Akdital plans major expansion across Morocco with $140 million in new investments.

Mediterrania Capital Partners (MCP) has completed its full exit from Akdital, Morocco’s leading private healthcare group. The Malta-based investment fund announced on April 25 that it had sold its remaining 10.5% stake in the company for an undisclosed amount.

The move follows MCP’s partial exit in December 2022, when Akdital went public on the Casablanca Stock Exchange. At that time, MCP sold 66,670 shares at 3,000 dirhams each, which included a 100-dirham face value and a 2,900-dirham share premium. The transaction allowed MCP to recover nearly 200 million dirhams, representing close to 80% of its original 250 million-dirham investment made in 2020.

MCP’s full exit comes as Akdital strengthens its balance sheet. In July 2024, the healthcare group raised 1 billion dirhams through a capital increase. Following the operation, Akdital’s market valuation now exceeds €1 billion.

Akdital reported revenue of 2,954 million dirhams in 2024, up 55% from the previous year. EBITDA reached 839 million dirhams, a 64% increase, with margins improving from 26.8% in 2023 to 28.4% in 2024. Consolidated net income stood at 348 million dirhams, a 76% rise. Net income attributable to the group reached 315 million dirhams.

Since MCP’s investment, Akdital has cemented its position as Morocco’s top private healthcare operator under the leadership of its founder and CEO, Rochdi Talib.

Looking ahead, Akdital plans to expand its network between 2025 and 2026. The company aims to open new facilities in five major cities and seven mid-sized towns across Morocco where medical services are limited. This expansion program will require an investment of 1.4 billion dirhams, accounting for over 70% of the funds raised in the latest capital increase.

Founded in 2010, Akdital currently operates 35 multidisciplinary and specialized clinics across the country, offering services in cardiology, cardiac surgery, neurosurgery, oncology, intensive care, and neonatology.

Akdital’s growth comes at a time when the private sector accounts for 38% of Morocco’s hospital capacity, in a country where hospital bed availability remains low at 1.2 beds per 1,000 people, compared to a regional MENA average of 1.5 beds per 1,000.

Chamberline Moko