Dimensions Healthcare LLC was founded in the UAE in 2008 and built Dubai's comprehensive electronic health insurance platform
IMS Health is the largest vendor of U.S. physician prescribing data and was listed on NYSE in 2014
Dubai, UAE - 6 February 2016: Emirates Investment Bank (DFM: EIBank), a client-focused, independent private and investment banking boutique headquartered in Dubai, announces that it acted as sole financial advisor to the shareholders of Dimensions Healthcare LLC ("Dimensions") on the sale of Dimensions to IMS Health (NYSE: IMS). Dimensions is based in the UAE and provides high quality healthcare systems to payers, providers and regulatory bodies.
Dr. Omar Ghosheh, Founder and CEO of Dimensions Healthcare, said, "This transaction will allow Dimensions Healthcare to provide its clients with the wealth of expertise that IMS Health has to offer, which will greatly improve the overall efficiency of the UAE healthcare system. I would like to thank Emirates Investment Bank for their advice throughout this process and I am looking forward to the next phase of Dimension's growth."
Husam Kutaifan, Head of Investment Banking at Emirates Investment Bank, said, "IMS Health's acquisition of Dimensions sits in Emirates Investment Bank's sweet spot of expertise. As a boutique investment bank based in the UAE, we provide objective transaction advice to clients that are looking to maximise opportunities and minimise risk. I would like to congratulate Dimensions and IMS Health on this exciting development, which will enable Dimensions to accelerate its growth and provide its critical services to even more healthcare institutions across the UAE."
Based in the UAE, Dimensions Healthcare was established in 2008 and achieved rapid growth by taking a holistic approach to the delivery of health technology, developing proprietary systems for medication dispensing, healthcare information management and clinical decision support. Dimensions Healthcare is central to the delivery of effective healthcare within the UAE, as the architect of Dubai's comprehensive electronic health insurance platform, which manages patient claims for more than 65 payers.
IMS Health is a leading global information and technology services company providing clients in the healthcare industry with end-to-end solutions to measure and improve their performance. It is the largest vendor of U.S. physician prescribing data and was listed on NYSE in 2014.
Dr. Ghosheh will continue to lead the Dimensions Healthcare business as part of IMS Health.
About Emirates Investment Bank pjsc:
Emirates Investment Bank is an independent private and investment banking boutique operating in the Middle East and headquartered in Dubai, UAE. It offers highly customised services through two primary business lines:
· Private Banking: Emirates Investment Bank works closely with a select yet diverse client base of High Net Worth individuals and institutions to bring them tailor-made wealth planning services and investment solutions sourced from all over the world.
· Investment Banking: Emirates Investment Bank's professional financial advisory team provides its clients with innovative investment banking services including Mergers & Acquisition (M&A), balance sheet restructuring as well as access to regional capital markets.
Emirates Investment Bank is regulated by the Central Bank of the UAE, and as a listed entity on the Dubai Financial Market (Ticker: EIBank), it is also supervised by the Emirates Securities and Commodities Authority. For further information, please visit: www.eibank.com.
The Bank's assets under management as of September 2015 amounted to AED 8 billion.
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© Press Release 2016