• Akdital raised $130M in bonds to fund Morocco, Gulf expansion
• Plans 2,700 new beds in Morocco; Saudi hospital deal set for 2025
• 2024 revenue rose 55%; operates 41 clinics with 4,000+ beds
  

Akdital, a major private clinic operator in Morocco, said this week it raised 1.2 billion dirhams, about 130 million dollars, through a bond issue. The funds will finance a new phase of the group’s expansion in Morocco and in overseas markets.

The fundraising was carried out through a non-convertible private placement bond issue made up of four tranches, each with a seven-year maturity and fixed or annually adjustable interest rates. The bonds are tradable over the counter.

The issue, arranged by CFG Finance, CFG Bank, Valoris Corporate Finance, and Valoris Securities, aims to support the group’s expansion plans in Morocco and abroad, diversify its financing sources, and lower its overall cost of borrowing.

In Morocco, Akdital plans to add 2,700 beds to its network between 2025 and 2027, including 405 beds added in the first half of 2025. The expansion will bring its total capacity to 6,400 beds and will require an estimated investment of 3.4 billion dirhams over the three years. The push comes as the private sector accounts for 38 percent of the country’s hospital capacity in a market where overall availability remains low at 1.2 beds per 1,000 people, below the Middle East and North Africa regional average of 1.5.

The group, led by businessman Rochdi Talib, is also rolling out its overseas expansion strategy with a focus on Gulf markets. Two major projects are underway: the construction of a multidisciplinary hospital and oncology center scheduled to open in the third quarter of 2027, and the planned acquisition of an existing hospital in Saudi Arabia by the end of 2025. The international expansion program represents a total investment of 1.2 billion dirhams.

Akdital, which is listed in Casablanca, operates 41 facilities across 24 cities with more than 4,000 beds. Its hospitals cover specialties including cardiology, cardiac surgery, neurosurgery, oncology, intensive care, and neonatology. The group reported revenues of 319.6 million dollars in 2024, up 55 percent year on year, and consolidated net income of 37.6 million dollars, a 76 percent increase from the previous year.

Walid Kéfi