Gulf Capital, based in Abu Dhabi, announced the acquisition of two healthcare technology firms in the United States for $60 million, and its CEO said that the investment company plans to grow in the coming year.

Gulf Capital, which holds over $2.5 billion in cash, announced the completion of the acquisition of majority stakes in Eclat Health and Hansei Solutions, all of which are headquartered in the United States and specialize in sales cycle management solutions for healthcare providers.

According to Gulf Capital CEO Karim El Solh, the contributions totaled $60 million and were divided approximately evenly.

"Our emphasis on healthcare has paid off handsomely because it has been one of the few industries that has grown through the pandemic," he said. "The other two markets that are doing exceptionally well for us are technology and payments."

El Solh reported that Gulf Capital's third private equity fund, worth $750 million, is 78 percent invested.

"We plan to introduce a new fund to the market next year," He also mentioned that the firm intends to hire about ten new workers to supplement its current workforce of 50.

According to him, the fourth private equity investment, which he expects to open next year, will be about the same size as the third fund. In addition, the company intends to raise additional funds for private debt acquisitions next year.

"SMEs (small and medium-sized enterprises) are searching for funding, the country has one of the lowest SME financing rates in the world, and they want growth capital," El Solh said.

During the pandemic, there is "definitely a huge thirst and desire for liquidity for these firms," he said.