Amanat portfolio company to acquire 3 medical facilities in Saudi Arabia

The acquisition is subject to regulatory and legal approvals of the Saudi Ministry of Health

  
Image used for illustrative purpose. Doctor is working with iPad at the hospital emergency room. Image used for illustrative purpose.

Image used for illustrative purpose. Doctor is working with iPad at the hospital emergency room. Image used for illustrative purpose.

Getty Images/Visoot Uthairam

Dubai –  Amanat Holdings, listed on the Dubai Financial Market (DFM), on Tuesday said its portfolio company, International Medical Center (IMC), has approved to acquire 100% of three medical facilities in Jeddah, Saudi Arabia.

The acquisition is subject to regulatory and legal approvals of the Saudi Ministry of Health, according to a press release.

The acquisition is compatible with IMC’s strategic plan to acquire and enhance quality healthcare assets across Jeddah and the wider Western region of Saudi Arabia, Amanat indicated.

IMC, a leading tertiary care hospital in Jeddah, aims to improve and upgrade the level of services provided by the acquired healthcare facilities and install a hub-and-spoke model to achieve growth.

Tristan de Boysson, CEO of Amanat, commented: “This acquisition marks a significant step forward for IMC in its growth ambitions, and we are excited about the potential for IMC to continue to expand through further strategic acquisitions.”

“The transaction is a great example of how we partner actively with our portfolio companies to help them unlock their full potential. We have worked closely with IMC to help it complete its first acquisition and we look forward to supporting its continued success as it develops a market-leading specialist care offering,” de Boysson added.

It is worth noting that Amanat holds a 13.18% stake in IMC within its healthcare investments.

Source: Mubasher

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