<p><br />Nesmal has announced it has partnered with ReAya Holding to invest in a Turkish eye hospital chain Avrupag&ouml;z. The hospital chain currently has 14 branches throughout Turkey, with plans to open new clinics in Saudi Arabia, Turkey, Iraq, Azerbaijan and Turkmenistan.</p>
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<p>The stake held by Nesmal and ReAya, which amounts to 50% of the company, was acquired for nearly 23.6 million US Dollars.&nbsp;</p>
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<p>Nesmal is Nesma Holding&rsquo;s investment arm in Turkey and Egypt, and is tasked with the responsibility of overseeing Nesma&rsquo;s various investments in the two countries.</p>
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<p>ReAya Holding is a Jeddah-based investment firm that specializes in the health care and life sciences industry. ReAya Holding invests in companies that require growth capital for expansion organically or through acquisitions, and helps them formulate growth strategies and execute turning around initiatives at the operational level. ReAya Holding also undertakes, in partnership with other institutional investors, selected greenfield projects aimed at addressing existing or emerging business opportunities in the GCC, MENA region and Turkey.</p>
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