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VC Bank Announces Closure of Placement in First Specialized Hospital for Maternity in Kingdom of Bahrain, the "Royal Maternity Hospital"

Through a US$ 30.5 Million Investment Product

Venture Capital Bank has announced the closure of placement in the "Royal Maternity Hospital" project, which is poised to operate as a world-class wellness center specialized in the provision of basic and advanced healthcare services for women and children in Bahrain and neighboring countries. The project is expected to bring about a qualitative leap in the standards of healthcare provision in Bahrain through developing a center of medical excellence that will offer premium services dedicated towards serving the needs of women and children in an exclusive and resort-like environment. The initial focus of the Royal Maternity Hospital will be the provision of comprehensive maternity services, extending to pre-natal and post-natal care, in addition to gynecology. The Royal Maternity Hospital will aim to gradually introduce and excel in the provision of medical care in the areas of maternity, gynecology and fertility, pediatrics, diagnostics, continence, reconstructive surgery, oncology, and neurology.

The Royal Maternity Hospital will be staffed with the best quality medical professionals from the United Kingdom, and in accordance with best practices prevalent in top UK-based healthcare facilities. The Royal Maternity Hospital, which will offer thirty-two rooms in its first phase of implementation, will be located in a strategic and exclusive location in the Southern Governorate of Bahrain offering both privacy and convenient access. The Royal Maternity Hospital will be designed as an exclusive retreat, where women can seek the highest levels of tailored medical services in a serene and relaxed environment.

VCBank Board Member & CEO, Abdullatif Mohammed Janahi said: "with the completion of placement of the "Royal Maternity Hospital", VCBank will soon commence implementation thereof. The Hospital will be constructed in a strategic location measuring 40,000 sq meters, in the vicinity of one of Bahrain's most luxurious residential projects."

"The healthcare sector is given increased attention by VCBank , which seeks to diversify its investments by addressing the specific needs of the market and responding to growing need for investment in this vital sector. Investors in the Royal Maternity Hospital project are expected to achieve an internal rate of return of 20% over an investment period of up to 5 years. The Royal Maternity Hospital project was placed as a structured investment product specifically targeting a certain category of the Bank's investors with substantial interest in the healthcare sector and who are expected to add value to this unique project throughout the phases of its implementation or future potential expansion in other Gulf cities." added Mr. Janahi.

"The Royal Maternity Hospital is the second medical project to be structured by VCBank following the rolling out of another medical project that was introduced in 2009 with the objective of targeting a niche market and meeting predetermined demand," conclude Mr. Janahi

Dr. Ahmed Al-Jawhary, Chief Investment Officer - Venture Capital & Business Development in VCBank said: "The primary services provided by the hospital include overall maternity services which cover the period from pregnancy to birth, and then provision of integral healthcare services for mother and baby after delivery, in addition to applying latest treatment technologies in all aspects of women's health in accordance with best international practices.

The Royal Maternity Hospital is expected to combine the utmost quality in healthcare with tailored hospitality thus standing out as a destination where women can seek the finest medical care and lifestyle advice in the confines of an indulgent and tranquil sanctuary. The idea of merging hospitality and healthcare services as part of the new hospital is crystallized in the image of an advanced health resort that caters for the specific needs of local and regional communities and their cultural sensitivities, social habits and changing lifestyles during the last two decades, in addition to bearing in mind the urgent need for advanced medical services in this field".

The Venture Capital & Business Development team in VC Bank had diligently developed the structure of this investment opportunity to balance the requirements of the project's various stakeholders, in terms of return expectations for its investors and achieving the desired value addition to the local and regional healthcare scene. To accomplish that, VC Bank worked closely with a highly distinguished consortium of technical and consultancy partners under direct supervision of the Investment Director for Venture Capital and Business Development in the Bank, Elham Al Koohiji, to create the best working model for project implementation.

-Ends-

For any further information, kindly contact:
May Marzooq
Corporate Communications Department
Tel +973 17518872
Mobile +973 36359000
Fax 973 17518880

Fatima Rashid
Corporate Communications Department
Tel +973 17518859
Fax +973 17518880
e-mail frashid@vc-bank.com

© Press Release 2010