UAE-based Amanat Holding has announced its full acquisition of Cambridge Medical and Rehabilitation Center at an investment cost of $ 232 million from TVM Capital Healthcare, a stock company Especially focusing on emerging markets.
According to the company’s statement, today, Monday, this deal was funded through a combination of spot cash and indebtedness.
This deal represents Amanat's first investment in the healthcare sector in the UAE, and is considered one of the largest investment deals that took place in recent years in the healthcare sector in the GCC Gulf Cooperation.
Cambridge is a provider of medical care and rehabilitation in the UAE and Saudi Arabia.
From its inception, Cambridge has grown continuously, with its capacity today reaching more than 250 licensed medical beds and three medical facilities, two of them in the UAE and one in Saudi Arabia. / p>
In addition to Amanat's investment portfolio that includes Sukoon Alama Holding Company (Sukoon Company) which is the main provider of long-term care in Saudi Arabia, the Cambridge scalable business model is An integral part of Amanat’s strategy in building a long-term medical care platform in the region.
and by completing this transaction, Amanat Company will have invested its entire capital, which is worth 2.5 billion dirhams, and today it manages asset trusts with a financial value of nearly 3 billion dirhams.
/ p>
Mohamed Hamada, CEO of Amanat added: “The victory was our ally in this strong competition that resulted in the acquisition of the prominent Cambridge, which will be the main support for the platform. Long-term medical care.
and continued: This investment is unique, well established and a leader in the market backed by a highly experienced management team.
It is worth noting that (Cambridge) recorded record financial returns in 2020 amounting to $ 75.3 million, and profits reached $ 22 million before deducting interest, tax, depreciation and amortization. In addition to achieving a net income of $ 15.2 million.
