UAE healthcare firm Amanat buys long-term care firm Cambridge for $232 million | Reuters
Dubai-listed healthcare firm Amanat Holdings has bought long-term care firm Cambridge Medical and Rehabilitation Center for an enterprise value of $232 million from private equity firm TVM Capital Healthcare.
Amanat said the deal was its first wholly owned investment in healthcare in the United Arab Emirates and was one of the biggest healthcare deals in the Gulf region in recent years.
Cambridge provides post-acute care and rehabilitation in the UAE and Saudi Arabia, with more than 250 beds across three facilities.
With this transaction, Amanat had fully deployed its paid-up capital of 2.5 billion dirhams ($681 million) and now managed close to 3 billion dirhams in assets, Amanat Chairman Hamad al-Shamsi said in a statement.
Reuters reported in September that the private equity owner of Cambridge Medical and Rehabilitation Center had hired corporate advisory firm deNovo for a potential sale of the company.
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