Mubadala Health, the healthcare arm of Abu Dhabi sovereign investor Mubadala Investment Company, has acquired a controlling stake in United Eastern Medical Services (UEMedical).
The 60 percent stake has been acquired from Jadawa Investment and United Eastern Group (UEG) and marked the company’s entry into Saudi Arabia, according to a statement issued Wednesday.
In 2019, Abu Dhabi-based UEMedical announced the acquisition of a controlling stake in Al Muhaideb Dental Clinics Group in Saudi Arabia.
“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,” said Hasan Jasem Al Nowais, chief executive officer of Mubadala Health.
“Mubadala Health was established to transform the regional healthcare landscape. Today through our acquisition of United Eastern Medical, we have taken [a] monumental step in this direction. Our network of world-class healthcare providers is renowned for service excellence, and with this service line expansion, we can now support the healthcare needs of our patients through every phase of their lives.”
With the acquisition, Mubadala Health’s network will now include Danat Al Emarat Hospital for Women & Children; Moorfields Eye Hospital Abu Dhabi; HealthPlus Network of Specialty Centres and HealthPlus Fertility, among others.
(Writing by Cleofe Maceda; editing by Seban Scaria)
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© ZAWYA 2021