VCBank sells 69pc stake in RHW for US$39m

Venture Capital Bank (VCBank), a Bahrain-based Sharia-compliant investment firm, announced yesterday the sale of 69 per cent stake in its recently-completed Royal Hospital for Women (RHW) in Bahrain for US$ 39 million.

Amanat Holdings, a Dubai Financial Market-listed investment company in the GCC healthcare and education sectors, made the acquisition. This latest investment exit, according to VCBank and its retail investors, generated a 34pc return on the original investment. Comprising of 65 inpatient beds, RHW will focus initially on the provision of comprehensive maternity facilities extending to pre-natal and post-natal care, in addition to gynaecology.

Abdullatif Janahi, Board Member and CEO of VCBank, commented: “In addition to expanding and enhancing Bahrain’s healthcare sector, and promoting the Kingdom as a medical tourism centre, the Royal Hospital for Women will provide employment and training opportunities for Bahraini nationals seeking a rewarding career in the medical field.” Covering a built-up area of 10,000 square metres on a landscaped site of 40,000 square metres, RHW is situated on the outskirts of Riffa.

“The sale of this recently-completed hospital, with its unique patient value proposition, marks the Bank’s first investment exit from the regional healthcare sector in which we have developed a particular expertise,” Janahi pointed out. VCBank also conceived the idea for the German Orthopaedic Hospital (GOH) in Bahrain, which opened in 2010.