GFH buys majority stake in UAE’s leading multi-speciality healthcare provider

TDT | Manama

The Daily Tribune – www.newsofbahrain.com

GFH Financial Group yesterday announced the acquisition of a 60% stake in the UAE’s leading provider of multi-speciality healthcare, Multi-Specialty Healthcare Partner Holding Ltd., in a deal value exceeding US$100 million.

The company is the only diversified multi-speciality healthcare chain in Abu Dhabi and Al Ain and is one of the few in the UAE with 19 healthcare clinics, along with two pharmacies spread across Al Ain, Abu Dhabi, Sharjah and Dubai.

MSH focuses on diverse and fast-growing segments of the healthcare industry, including Dental Centers, Beauty Care Centers (Cosmetic and Dermatology), Dental Laboratories, Primary Medical Centers, Woman-Care Centers and Out-patient Pediatric Rehabilitation Centers.

The investment will be managed by GFH’s healthcare arm, Healian, a regionally focused platform that invests in high-quality assets providing affordable healthcare in underpenetrated segments of the sector.

Through Healian, GFH envisions further building its portfolio of blue-chip regional healthcare providers. Sameer Azam, Director Private Equity at GFH, said, “With healthcare a high priority investment area for the UAE government and the rollout of ‘Mandatory Health Insurance’ in the country, MSH is well-positioned to further expand its already broad and well-diversified healthcare offering.

“We will work on expanding our investments in the GCC, including Saudi Arabia and the UAE, where we see continued progress and growth in the healthcare sector.”

The Board and the Management of MSH added: “With additional resources, support and backing from our new partners, GFH through Healian, we are better placed than ever to leverage our momentum and strategically expand, making the most of positive dynamics in the UAE market including changing demographics, rising demand and a supportive regulatory environment.”