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| 19 August, 2018

Dubai's Amanat acquires 69% of women's hospital in Bahrain

Amanat Holding announced its acquisition of a majority stake in a women's hospital in Bahrain for $38.58mln

Image used for illustrative purpose. Traders monitor stock information at Dubai Financial Market, in Dubai, United Arab Emirates, June 5, 2017.

Image used for illustrative purpose. Traders monitor stock information at Dubai Financial Market, in Dubai, United Arab Emirates, June 5, 2017.

REUTERS/Stringer

Dubai –  Amanat Holding on Sunday announced its acquisition of a majority stake in a women's hospital in Bahrain for AED 141.7 million ($38.58 million).

The Dubai-listed investment holding company acquired 69.3% of Bahrain's Royal Maternity Hospital Holding, it said in a bourse filing.

The Bahraini healthcare facility is more commonly known as the Royal Hospital for Women.

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Amanat last reported a 12% year-on-year rise in profits to AED 27.9 million in the first six months of 2018 on the back of stronger investments during the period.

Its total revenue increased 7.4% year-on-year to AED 51.9 million in H1-18, while its income from associates grew 42.2% to AED 26.1 million.

Source: Mubasher

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