International Holding Company (IHC), a diversified Abu Dhabi-based conglomerate, announced today a direct acquisition of a 15% stake in Burjeel Holdings, a leading regional private healthcare group, in one of the biggest deals in the Gulf’s healthcare sector in recent years.
The acquisition will aim to continue to scale and diversify IHC’s investment in the healthcare sector locally and regionally, which will create a thriving commercial ecosystem for the healthcare industry for the benefit of broader community and shareholders, said the company.
The value of the deal has not been revealed.
Syed Basar Shueb, Chief Executive Officer, IHC, said: "We continue to see a tremendous opportunity to invest in mission-driven organizations like Burjeel Holdings. We are very pleased with Burjeel's progress in expanding its market positions beyond the UAE. Undoubtedly, this new acquisition will add great value to our strong growth platform."
Founded in 2007, Burjeel Holdings is the leading private healthcare services provider in the UAE, with a growing presence in the GCC. The group continues to set new benchmarks for healthcare delivery and patient outcomes, with state-of-the-art facilities and world-class service standards.
Dr Shamsheer Vayalil, CEO, Burjeel Holdings, said: "We are thrilled to join a solid organisation with such a broad and complementary set of capabilities. Having IHC onboard has a solid strategic rationale for us, as it will have a transformative impact through the addition of new capabilities, capital, and access to new markets. This is an exciting time of growth for Burjeel Holdings."
Burjeel Holdings will operate nearly 60 assets catering to all socio-economic segments across a range of brands, including Burjeel Hospitals, Medeor Hospital, LLH Hospital, Lifecare Hospital, and Tajmeel. Its flagship facility, Burjeel Medical City, is the largest private hospital in the UAE and the only ESMO-accredited center. In addition to having renowned world-class centres of excellence, Burjeel Holdings consolidates the largest diagnostic network in the UAE and the largest comprehensive cancer center in the nation. The newly launched holding company also brings under its umbrella the largest orthopaedic practice and leading mother and child care provider in the UAE, said the statement. -TradeArabia News Service