Latest news with #Fakhouri
Yahoo
23-04-2025
- Business
- Yahoo
Skin Cancer Specialists Dermatology and Team Dermatology Secure Partnership with DermCare Management, Advised by Physician Growth Partners
PGP's 19th dermatology transaction since 2018 reinforces its position as the leading sell-side advisor to independent dermatologists navigating private equity and partnership opportunities CHICAGO, April 23, 2025 /PRNewswire/ -- Physician Growth Partners ("PGP"), a leading healthcare investment banking and M&A Advisory firm, is pleased to announce it recently advised Houston, TX-based Skin Cancer Specialists Dermatology ("SCSD") and its sister brand, Team Dermatology, in their partnership with DermCare Management (backed by Hildred). Founded in 2016, SCSD is one of the most trusted dermatology practices in the Greater Houston area. Over the years, it has grown into a leading dermatology provider with five locations across the greater Houston market. Through its partnership with DermCare Management, SCSD aims to strengthen its operational infrastructure, expand its service offerings, broaden its geographic reach, and further solidify its market leadership. Dr. Tarek Fakhouri, Dermatologist and Founder of SCSD, commented on the successful outcome: "Prior to working with PGP, I evaluated multiple teams. I found the team at PGP to be the most experienced and professional. Throughout the entire process they were attentive, knowledgeable, and effective. I'm very pleased that I chose to work with PGP during this very important career moment." Physician Growth Partners served as the exclusive advisor to Skin Cancer Specialists Dermatology in its evaluation, negotiation, and execution of this partnership. "It was a pleasure working with Dr. Fakhouri and his team, and we're very pleased with the outcome for Skin Cancer Specialists Dermatology," said James Perrone, Vice President at PGP. "The practice's strong clinical reputation in the Greater Houston market drew significant interest from multiple strategic partners. Ultimately, DermCare Management emerged as the ideal fit – offering a platform that supports the practice's continued growth while preserving its commitment to exceptional patient care. We're proud to have guided the group through the sale exploration process and are excited to see the value this partnership will unlock moving forward." About Physician Growth Partners Physician Growth Partners is a nationally recognized healthcare investment banking and M&A Advisory firm dedicated to helping independent physician groups and healthcare services business owners explore and execute transactions with private equity and strategic partners. PGP is the most active M&A Advisor to independent physician groups1 by deal volume since its founding in 2017, advising 70+ practices in successful transactions. The firm creates value by providing proprietary market insights, operational support, strategic positioning, and sell-side M&A Advisory services from start to finish. 1 LevinPro HC data platform For more information about Physician Growth Partners, please visit or contact us at press@ 432 N. Clark Street, Ste. 200, Chicago, IL 60654 View original content to download multimedia: SOURCE Physician Growth Partners Sign in to access your portfolio
Zawya
23-04-2025
- Business
- Zawya
7awi enhances regional presence via new appointment for Saudi Arabia
Dubai-based 7awi Media Group has named Amjad Fakhoury as the new Country Head for its operations in Saudi Arabia to lead the company's strategic expansion, according to a press release. The new appointment of Fakhoury aims to drive market growth and enhance 7awi's presence in the Middle East region. CEO of 7awi, Anas Abbar, said: 'Amjad's leadership and strategic vision make him the perfect fit to lead our operations in Saudi Arabia.' Abbar added: 'His ability to drive growth, optimize operations, and build strong partnership aligns perfectly with our vision for expansion in the kingdom and beyond.' From his part, Fakhouri said: 'As the Kingdom has evolved, so has communications. We have witnessed a significant shift in our clients' approach to media Needs and Exposure, with a strong preference for genuine Media Support.' Fakhouri noted: '7awi is already regarded as a trusted partner as one of the biggest Arabic digital publishers in the region, creative agency and a sold partner for development and strategic communications by numerous international, regional and local clients.' He concluded: 'In light of this reputation, it is imperative that we actively guide our clients towards our comprehensive services, which surpass those of our competitors in the region. Our expansion plans in the Kingdom include reaching several cities by 2026, supported by a dedicated team committed to serving our clients.' Source: Mubasher
Zawya
28-03-2025
- Business
- Zawya
Cenomi Retail's net losses fall 82% in 2024
Riyadh – The net losses of Fawaz Abdulaziz Al-Hokair Company (Cenomi Retail) shrank by 82.25% to SAR 197.50 million in f 2024 from SAR 1.11 billion in 2023, according to the financial results. Loss per share plummeted to SAR 1.77 last year from SAR 10.30 in 2023, while the revenues increased by 3.71% to SAR 4.84 billion from SAR 4.67 billion. Salim Fakhouri, CEO at Cenomi Retail, commented: "Our main focus has been on enhancing operational efficiencies across every retail category we operate in, which has resulted in strong financial results, with revenue growing 3.70% YoY in 2024, to SAR 4.80 billion, and EBITDA turning positive to SAR 469 million, and net loss declining to SAR 197 million.' 'This is indeed positioning us for the next phase of growth and development in 2025, with our brand optimisation program underway,' Fakhouri added. In the first nine months (9M) of 2024, the Saudi group recorded 45.79% lower net losses at SAR 48.30 million, compared to SAR 89.10 million in 9M-23. Source: Mubasher
Al Bawaba
18-03-2025
- Business
- Al Bawaba
Bank of Jordan Announces 2024 Financial Results, Continues Regional Expansion, and Recommends 18% Cash Dividend Distribution to Shareholders
Bank of Jordan Group has announced its consolidated financial results for 2024, which were approved by the Central Bank of Jordan. Despite facing challenging economic and geopolitical conditions, the group delivered balanced results across its markets. This success is attributed to the adoption of a comprehensive strategy focused on institutional transformation, investment diversification, and a robust approach to risk group's total income for the year reached JOD 170 million, driven by operational activity. Net interest and commission income accounted for 94% of total income. Shareholders' net profit totaled JOD 35 million, reflecting a 20.5% decrease compared to 2023. This decline was primarily due to additional credit provisions made to address the repercussions of the war on the Gaza Strip and the West Bank, as well as the costs associated with establishing a new branch in the Kingdom of Saudi the Iraqi market, Bank of Jordan-Iraq reported positive performance, with net profit reaching JOD 3.2 million, marking a growth of 403%. Customer deposits in Iraq grew by 9.6%, demonstrating strong client confidence in the Bank of Jordan Group continued its trajectory of sustainable growth in 2024. Total assets increased to JOD 3.2 billion, reflecting a growth of 4%, while shareholders' equity rose to JOD 528.3 million. Customer deposits grew by 3.8%, reaching JOD 2.3 billion, and the credit facilities portfolio increased by 4.6%. These figures reflect the bank's well-executed credit strategy. Despite external challenges, the bank maintained strong liquidity, with a statutory liquidity ratio of 151.1%, a liquidity coverage ratio of 449.2%, and a capital adequacy ratio of 20% — all exceeding regulatory requirements under Basel light of these results, the Board of Directors of Bank of Jordan has recommended a cash dividend distribution of 18% to shareholders for the year on the Results, Mr. Shaker Fakhouri, Chairman of Bank of Jordan, affirmed that the bank remains committed to excellence and sustainable growth. The bank launched a comprehensive corporate transformation strategy in 2024, focusing on investment diversification, geographical expansion, and the enhancement of its corporate identity. This transformation also includes the development of a cutting-edge human resources management system, with an emphasis on digital transformation and innovation in banking services through the use of big data and artificial Fakhouri further highlighted that the bank will continue executing its regional expansion plans. These plans include the opening of three new branches in Iraq by 2025 and the completion of preparations to launch operations in Saudi Arabia in the first half of 2025. This will further strengthen the bank's regional presence and provide advanced banking services to meet the evolving needs of customers in these part of its digital strategy, Bank of Jordan launched its own central cloud service in 2024. This move has reduced dependence on external service providers, unified data centers, and enhanced the bank's business continuity. Additionally, the bank is preparing to launch an innovation center in collaboration with fintech companies, with the goal of developing innovative banking solutions to better serve its line with its commitment to sustainable development, Bank of Jordan introduced the "Multiple Relief Umbrella" program in 2024 to support humanitarian efforts in the Gaza Strip. With a budget exceeding USD 1 million, the program aims to provide essential needs for citizens. The bank also began implementing an integrated program focused on managing environmental and social standards in partnership with specialized institutions to promote sustainable business practices. In conclusion, Mr. Fakhouri emphasized that Bank of Jordan will continue its regional expansion, invest in technology, and implement initiatives aimed at institutional transformation. The bank remains committed to improving services and performance while responding to challenges in the Palestinian market with wisdom and flexibility.
Zawya
18-03-2025
- Business
- Zawya
Bank of Jordan announces 2024 financial results
Amman, Jordan – Bank of Jordan Group has announced its consolidated financial results for 2024, which were approved by the Central Bank of Jordan. Despite facing challenging economic and geopolitical conditions, the group delivered balanced results across its markets. This success is attributed to the adoption of a comprehensive strategy focused on institutional transformation, investment diversification, and a robust approach to risk management. The group's total income for the year reached JOD 170 million, driven by operational activity. Net interest and commission income accounted for 94% of total income. Shareholders' net profit totaled JOD 35 million, reflecting a 20.5% decrease compared to 2023. This decline was primarily due to additional credit provisions made to address the repercussions of the war on the Gaza Strip and the West Bank, as well as the costs associated with establishing a new branch in the Kingdom of Saudi Arabia. In the Iraqi market, Bank of Jordan-Iraq reported positive performance, with net profit reaching JOD 3.2 million, marking a growth of 403%. Customer deposits in Iraq grew by 9.6%, demonstrating strong client confidence in the bank. The Bank of Jordan Group continued its trajectory of sustainable growth in 2024. Total assets increased to JOD 3.2 billion, reflecting a growth of 4%, while shareholders' equity rose to JOD 528.3 million. Customer deposits grew by 3.8%, reaching JOD 2.3 billion, and the credit facilities portfolio increased by 4.6%. These figures reflect the bank's well-executed credit strategy. Despite external challenges, the bank maintained strong liquidity, with a statutory liquidity ratio of 151.1%, a liquidity coverage ratio of 449.2%, and a capital adequacy ratio of 20% all exceeding regulatory requirements under Basel III. In light of these results, the Board of Directors of Bank of Jordan has recommended a cash dividend distribution of 18% to shareholders for the year 2024. Commenting on the Results, Mr. Shaker Fakhouri, Chairman of Bank of Jordan, affirmed that the bank remains committed to excellence and sustainable growth. The bank launched a comprehensive corporate transformation strategy in 2024, focusing on investment diversification, geographical expansion, and the enhancement of its corporate identity. This transformation also includes the development of a cutting-edge human resources management system, with an emphasis on digital transformation and innovation in banking services through the use of big data and artificial intelligence. Mr. Fakhouri further highlighted that the bank will continue executing its regional expansion plans. These plans include the opening of three new branches in Iraq by 2025 and the completion of preparations to launch operations in Saudi Arabia in the first half of 2025. This will further strengthen the bank's regional presence and provide advanced banking services to meet the evolving needs of customers in these markets. As part of its digital strategy, Bank of Jordan launched its own central cloud service in 2024. This move has reduced dependence on external service providers, unified data centers, and enhanced the bank's business continuity. Additionally, the bank is preparing to launch an innovation center in collaboration with fintech companies, with the goal of developing innovative banking solutions to better serve its customers. In line with its commitment to sustainable development, Bank of Jordan introduced the "Multiple Relief Umbrella" program in 2024 to support humanitarian efforts in the Gaza Strip. With a budget exceeding USD 1 million, the program aims to provide essential needs for citizens. The bank also began implementing an integrated program focused on managing environmental and social standards in partnership with specialized institutions to promote sustainable business practices. In conclusion, Mr. Fakhouri emphasized that Bank of Jordan will continue its regional expansion, invest in technology, and implement initiatives aimed at institutional transformation. The bank remains committed to improving services and performance while responding to challenges in the Palestinian market with wisdom and flexibility.
