|12 January, 2020

UAE's Amanat mulls stake acquisition in VPS Healthcare

Potential transaction 'still at an early stage'

Image used for illustrative purpose. Empty hospital suit room.

Image used for illustrative purpose. Empty hospital suit room.

Gettyimages

Dubai-listed Amanat Holdings (Amanat), a healthcare and education investment company, is assessing a strategic stake acquisition in VPS Healthcare, a private healthcare service provider in UAE and Oman.

The potential deal is in line with Amanat’s strategy to invest in major healthcare service providers to ‘grow and scale profitably’, the firm said in a statement.

Amanat appointed J.P. Morgan as its financial advisor on the transaction, which is still at an early stage.

According to Amanat, the healthcare sector in the Gulf region is set to grow at a compound annual growth rate (CAGR) of 6.7 percent by 2022 with GCC governments’ spending projected to increase to $30.5 billion.

(Writing  by Nada Al Rifai; editing by Seban Scaria)

(nada.rifai@refinitiv.com)

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© ZAWYA 2020

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