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Abu Dhabi-based diversified conglomerate International Holding Company (IHC) today announced the outright acquisition of a 15% stake in Burjeel Holdings, a leading privately held healthcare group in the region, in one of the largest transactions in the healthcare sector in the Gulf region in recent years.
The company said the acquisition is designed to continue to expand and diversify IHC’s investments in the healthcare industry locally and regionally, creating a thriving business ecosystem for the healthcare industry for the benefit of the wider community and shareholders.
The value of the deal was not disclosed.
Syed Basar Shueb, CEO of IHC, said: “We continue to see great opportunities to invest in mission-driven organisations such as Burjeel Holdings. We are very pleased with the progress Burjeel has made in expanding its market presence outside the UAE. There is no doubt about it , this new acquisition will add significant value to our strong growth platform.”
Founded in 2007, Burjeel Holdings is the UAE’s leading private healthcare provider with a growing presence in the GCC. With state-of-the-art facilities and world-class service standards, the group continues to set new benchmarks in healthcare delivery and patient outcomes.
Dr Shamsheer Vayalil, Chief Executive Officer of Burjeel Holdings, said: “We are delighted to join a solid organisation with such broad and complementary capabilities. Owning IHC makes a solid strategic rationale for us as it will benefit from the addition of new capabilities, capital and access to Opportunities in new markets. This is an exciting period of growth for Burjeel Holdings.”
Burjeel Holdings will operate nearly 60 assets serving all socioeconomic 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 centre to be accredited by ESMO. In addition to having a renowned world-class centre of excellence, Burjeel Holdings integrates the UAE’s largest diagnostic network and the country’s largest comprehensive cancer centre. The newly formed holding company will also bring the UAE’s largest orthopaedic clinic and a leading provider of maternal and child care under its umbrella, the statement said. –arab trade news agency
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