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The transaction returns full ownership of ECLAT to its founders and management team and reflects a highly successful outcome for all stakeholders. It marks the conclusion of a close and collaborative partnership during which ECLAT evolved from a provider-focused revenue cycle services business into a scaled, diversified healthcare services platform serving providers and payors across the United States. During Gulf Capital’s ownership, ECLAT increased profitability by more than 10 times in five years, representing an EBITDA compound annual growth rate of 75%.
For Gulf Capital and its Fund III investors, the exit represents one of the most successful realizations in the Firm’s history and highlights its ability to build global market-leading platforms through active ownership and deep operational value creation. For ECLAT’s founders and management team, the transaction opens a new chapter as they take forward a business that is significantly larger, more diversified, technology-enabled, and well positioned for the next phase of growth.
Gulf Capital invested in ECLAT with a shared ambition alongside the founders to build a differentiated healthcare services platform defined by scale, breadth, technology and long-term value. From the outset, both partners worked closely to expand the company’s service offering, geographic reach and end-markets, while strengthening the leadership team to support accelerated growth.
Over the course of the partnership, ECLAT broadened its capabilities across healthcare services by adding complementary verticals that enhanced its delivery model and deepened its value proposition to clients. The deliberate expansion of revenue cycle management capabilities introduced new offerings that drove strong organic growth and attracted a growing base of blue-chip healthcare customers.
A further pillar of the growth strategy was investment in the payor segment and in technology. This included the development of evaire, ECLAT’s proprietary AI and analytics platform, powered by agentic AI and ECLAT’s deep payer expertise, supporting end-to-end chart retrieval and review, risk adjustment coding, Confidence Scoring, payer analytics and related use cases. These initiatives helped strengthen ECLAT’s ability to deliver technology-enabled solutions while improving efficiency, compliance and outcomes for customers.
The execution of this strategy translated into meaningful operational scale. ECLAT expanded its service coverage nationally, grew its delivery footprint and back office from two to six offices across India and the Philippines, and increased its workforce from 450 employees to more than 4,000 across the United States, India and the Philippines. Over the course of the partnership, the business delivered ten-fold growth in both revenues and EBITDA, reflecting Gulf Capital’s and ECLAT leadership’s deep focus on operational improvements and value creation.
=&0=& “This investment exemplifies Gulf Capital’s approach to partnering with exceptional founders and management teams and supporting them in building differentiated, high-quality platforms. Together with ECLAT’s leadership team, we scaled ECLAT into a diversified and technology-enabled RCM and risk adjustment business serving clients across the U.S., making it one of the standout successes of our Fund III portfolio. This investment highlights Gulf Capital’s proven Control Growth Buyout model, where we acquire majority stakes in leading businesses and accelerate their growth and profitability before executing successful exits. We are proud of what has been accomplished in this investment and are confident in ECLAT’s continued momentum under its founders’ and management team’s leadership.”
=&1=& “ECLAT’s evolution reflects a partnership built on conviction, constant momentum and a shared determination to build something exceptional through relentless execution. Together with Karthik, Gabe, Sneha and the broader leadership team, we expanded the platform meaningfully across services, geographies, technology and talent, creating a business of real scale, resilience and strategic depth. The quality and resilience of the platform today reflect the depth of what was built together, and with the foundations now firmly in place, we believe the most exciting chapter for ECLAT is still to come.”
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The experience began on the water with an exclusive sea trial, where guests witnessed the power and precision of Honda’s all-new twin BF350 V8 outboard engines, mounted on a SilverCAT 35 CX boat. The demonstration highlighted more than 60 years of Honda Marine engineering, showcasing outstanding performance, reliability and craftsmanship. This dynamic introduction set the tone for two days dedicated to innovation, leadership, and technical precision.
From sea to land, guests entered the Past Zone, where a cinematic film traced the inspirational story of Soichiro Honda, from his modest beginnings to building one of the world’s most trusted mobility brands. The film featured defining moments from Honda’s history, including the iconic moment of Ayrton Senna driving a Honda-powered McLaren at Suzuka. As the curtain lifted, the audience was met with the surprise reveal of the very same McLaren on display, alongside heritage products and historical artefacts that captured Honda’s rise into a global powerhouse. Today, Honda serves more than 28 million customers annually across automobiles, motorcycles, marine engines, power products, and aviation with the HondaJet.
The journey then transitioned into the Present Zone, where Honda’s latest products and technologies were showcased across multiple categories. On display were the CR-V Sport Grade, Pilot TrailSport, and the ZR-V Apex Edition, reflecting Honda’s continued commitment to performance, safety, and sophisticated design in the automotive segment.
Guests also explored Honda’s extensive Marine lineup, including Honda’s first V8 outboard engines, the BF300 and BF350, featuring unique technologies designed to enhance durability, efficiency, and on-water performance. Honda Marine’s products were explored in greater depth on the second day during an exclusive Boat Builders Meeting, bringing together industry leaders from Saudi Arabia, UAE, Oman, and Kuwait, alongside Honda teams from Dubai, Japan, and Europe, and Honda partner Al-Futtaim.The session outlined Honda Marine’s presence across the region, supported by steering partner Ultraflex and held in collaboration with SilverCAT Boat Manufacturers.
The brand’s leadership in motorcycles was represented through a dedicated SuperSport showcase led by the CBR650, featuring the world’s first Honda E-Clutch – a groundbreaking technology that allows riders to shift gears without operating the clutch lever. Also on display were the CBR600RR-R, the iconic Honda Fireblade, and the legendary Gold Wing 50th Anniversary Edition, celebrating five decades of touring excellence.
The immersive journey concluded in the Future Zone, where a cinematic presentation revealed Honda’s global vision for the next era of mobility. The film explored the brand’s focus on safety, sustainability, and advanced engineering, spanning hydrogen fuel cell technology, Level 3 autonomous driving, electric motorcycles, the upcoming 0 Series battery-electric vehicles, eVTOL aircraft, and Honda’s development of reusable rockets designed to launch low-Earth orbit satellites, marking the company’s entry into space technology.
The film concluded with a regional MENA vision, outlining plans to expand Honda’s hybrid portfolio, introduce new and refreshed motorcycles and power product models, and accelerate the brand’s footprint across the region.
Commenting on the event, Raj Johal, General Manager – Honda Middle East & Africa, said:
“This immersive experience is a testament to reinforce Honda’s philosophy of continuously challenging itself to create new value, while remaining true to its founding spirit driven by dreams, innovation, and a commitment to improving everyday life.”
Beyond continuing their support for the event as the exclusive Automotive Partner, BMW Middle East is proud to present the BMW pavilion “Ellipse”, a collaboration with Bricklab, a Jeddah-based architecture studio founded by brothers Abdulrahman and Turki Gazzaz in 2015.
Through a cohesive integration of design, materiality, and spatial experience, Ellipse pavilion will embody core attributes of BMW. Its concept draws inspiration from the duality between the comfort of a luxury car and the raw environment of the desert highway. Its hard aluminium exterior contrasts with a soft, sinuous interior, creating moments of intimacy and reflection. The elliptical form provides a dynamic counterpoint to the angular geometry of Dubai Design District, symbolising motion and modernity.
While the hard aluminium cladding evokes strength and precision, the interior finishes mirror the craftsmanship of the BMW 7 Series with undulating walls and soft textures designed to encourage connection and calm. Adding to the experience, Ellipse pavilion will also showcase an exceptional BMW 7 Series presenting an elegant two-tone composition: Maldives Blue blending seamlessly with Oxide Grey Metallic for a distinctive and sophisticated look. Through this deliberate interplay of materials and atmospheres, Ellipse successfully echoes the core design attributes and luxury experience of the BMW 7 Series Individual.
Speaking about the inspiration behind Ellipse pavilion, Abdulrahman and Turki Gazzaz said: “Creating this pavilion for Dubai Design Week has been a process of artistry and practicality. Our collaboration with BMW Group Middle East has provided ideas that allowed us to pay homage to excellence in automotive design, merged with the dramatic scenery drivers experience in the Middle East. The result is a building we can be proud of – it is as elegant as it is functional.”
BMW Group Middle East’s commitment to art, design, and culture further extends within Ellipse pavilion, where visitors will experience meticulously crafted works from six regional artists. They include: Rania Elkalla, founder of Shell Homage; Karim Tamerji and Elias El Hage from Karim + Elias; Rand Abdul Jabbar, multidisciplinary artist; co-founders Sara Abu Farha and Khaled Shalkha of Datecrete Studio & Lab; Talin Hazbar, multidisciplinary artist; and Dima Srouji, founder of Hollow Forms.
Karim-Christian Haririan, Managing Director of BMW Group Middle East, said: “We are committed to championing regional creativity across art, design and culture, which is showcased through our ongoing partnership with Dubai Design Week, a platform that continues to inspire innovation and cultural dialogue. Our collaboration with Bricklab for Ellipse pavilion and the showcase six remarkable regional designers reflects BMW’s passion for design excellence, craftsmanship and cultural exchange.”
The BMW Group
With its four brands BMW, MINI, Rolls-Royce and BMW Motorrad, the BMW Group is the world’s leading premium manufacturer of automobiles and motorcycles and also provides premium financial services. The BMW Group production network comprises over 30 production sites worldwide; the company has a global sales network in more than 140 countries.
In 2024, the BMW Group sold over 2.45 million passenger vehicles and more than 210,000 motorcycles worldwide. The profit before tax in the financial year 2024 was € 11.0 billion on revenues amounting to € 142.4 billion. As of 31 December 2024, the BMW Group had a workforce of 159,104 employees.
The economic success of the BMW Group has always been based on long-term thinking and responsible action. Sustainability is a key element of the BMW Group’s corporate strategy and covers all products from the supply chain and production to the end of their useful life.
