Mubadala Health takes 60% stake in UEMedical in push for regional expansion | The National

Mubadala Health takes 60% stake in UEMedical in push for regional expansion | The National

Mubadala Health, the healthcare unit of Abu Dhabi’s sovereign investment fund Mubadala Investment Company, is acquiring a majority stake in United Eastern Medical Services (UEMedical), as it expands its portfolio of healthcare assets beyond the UAE.

The 60 per cent stake bought from Saudi Arabia’s Jadwa Investment and UAE-based United Eastern Group will add multiple hospitals and clinics that are owned and operated by UEMedical in the UAE and Saudi Arabia to Mubadala Health’s portfolio, Mubadala Health said in a statement on Wednesday.

The transaction is expected to close by September this year, it said without giving financial details of the deal.

“This acquisition enhances Mubadala Health’s network in the UAE and the wider GCC region, while demonstrating our unwavering commitment to transforming the regional healthcare landscape,” Hasan Jasem Al Nowais, chief executive of Mubadala Health, said.

“Over the past decade, UEMedical has witnessed tremendous growth and success, operating facilities that have raised the bar in patient care across multiple specialties.”

Through the acquisition, Mubadala Health will add Danat Al Emarat Hospital for Women & Children, the HealthPlus Network of Specialty Centres, HealthPlus Fertility, the largest IVF provider in the region and Moorfields Eye Hospital Abu Dhabi to its portfolio. The company will also get a stake in Al Meswak Dental Group – the largest dental and dermatology network in Saudi Arabia, it said.