United Arab Emirates' private healthcare firm New Medical Centre (NMC) has sold a 40 percent stake to Centurion Investment to expand in overseas markets as demand for medical care surges, its CEO said on Saturday.
NMC, a 36-year-old company with hospitals across the UAE and a pharmaceutical manufacturing facility in Abu Dhabi, has sold the stake for 4 billion dirhams (S$1.39 billion). Centurion is a new UAE healthcare entity with plans to go into other businesses in the future.
"The deal has been signed. It will help us expand and grow further in the UAE and internationally," Bavaguthu Raghuram Shetty told Reuters.
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