UAE’s Amanat Holdings acquires CMRC for $232m

Amanat Holdings – an organization based mostly within the United Arab Emirates (UAE) that invests in healthcare and schooling – has absolutely acquired the native rehabilitation institute, Cambridge Medical and Rehabilitation Centre (CMRC) for an enterprise whole of $232 million (£166m). 

In a press release issued to the Dubai Monetary Market (DFM) this week, Amanat Holdings revealed that its acquisition from non-public fairness agency, TVM Capital Healthcare is “one of many greatest offers within the Gulf’s healthcare sector in recent times.” 

CMRC supplies “specialised and devoted medical care and rehabilitation companies” to these requiring short-term complete rehabilitation, or long-term look after persistent sickness or damage. It has amenities within the UAE in addition to Saudi Arabia (KSA).

Howard Podolsky, group CEO of CMRC stated that the acquisition comes at a “pivotal time” for the corporate. 

“We’ve got pioneered the profitable roll-out of PAC [post-acute care and rehabilitation] within the area, having established a number of amenities with over 250 beds throughout the UAE and KSA,” he stated.

Hamad Al Shamsi, chairman of Amanat Holdings added: “The acquisition of CMRC affords Amanat a worthwhile and scalable enterprise.”

WHY IT MATTERS

In evaluation by Bloomberg, each ageing populations and rising life expectancy