Oncorad Plans IPO Within Three Years, CEO

Moroccan clinic operator Oncorad intends an initial public offering (IPO) at Casablanca’s stock exchange in three years to finance its development plan, in capitalizing on rising demand for health services while at the same time supporting Morocco’s ambition to generalize health care, said Oncorad CEO Redouane Samlali.
The company was able to raise 458 million MAD from private equity firms in Morocco and France, including CDG Invest Growth and Stoa.
Oncorad intends to spend 3 billion MAD in order to expand the number of its facilities from 13 to 30 by 2026, according to Redouane.
He stated that the country requires at least 700 new private clinics within the next decade to strengthen health care.
Approximately 80% of Moroccan clinics are concentrated in Rabat and Casablanca, the two regions of which together comprise only 15% of the Kingdom’s geographical area.
Moroccan hospitals at this time employ a deficit of 32,000 physicians and 65,000 nurses, with health services unevenly dispersed as previously noted, effectively rendering many regions as medical deserts, according to Semlali.
Semlali added that the corporation is employing a dozen international medics and has established a training facility in Nador. Morocco this year has boosted its public sector health spending by 19%, to 28 billion MAD.