UAE-based investment firm that specializes in healthcare and education, Amanat Holdings has acquired MENA’s leading rehabilitation and long-term care provider, Cambridge Medical and Rehabilitation Centre (CMRC) for $232 million in one of the biggest healthcare deals in the region.
The investment firm said in a statement to the Dubai Financial Market that it bought CMRC from TVM Capital Healthcare, an emerging market-focused private equity firm, and the transaction was funded through a mix of cash and a $110.2 million (Dh405 million) worth bank loan.
Hamad Al Shamsi, Amanat’s chairman said, “With this transaction, Amanat has fully deployed its paid-up capital of $680 million and now manages close to $816 million in assets. We continue to deliver on our strategic objectives to invest in high yielding assets that are leading the transformation in the healthcare and education sectors delivering further value to our shareholders.”
“Post-acute care and rehabilitation has proven to be one of the most resilient subsectors during the pandemic and we are now well-positioned to accelerate organic growth and pursue expansion across the GCC. We look forward to working closely with the public sector in the GCC in creating clusters of partnerships to develop healthcare service line integration where post-acute care services and other synergistic services are provided to address market demand through a more systematic relationship that offers long-term cost-effective synergies.”
According to the company, the transaction marks Amanat’s wholly-owned investment in the healthcare sector in the UAE.
“We are extremely proud of the value we created with CMRC for patients, their families, the local healthcare system, and our investors – by building a center of healthcare excellence leveraging our 35 plus years of global healthcare experience, our global network, and the expertise of alliance partners such as Spaulding Rehabilitation Network, official teaching partner of the Harvard Medical School Department of Physical Medicine and Rehabilitation,” commented Dr. Helmut Schuehsler, Chairman and CEO of TVM Capital Healthcare.
Currently, Amanat has investments across the education, healthcare, and property sectors. Its education portfolio includes schools operator Taaleem, Abu Dhabi University Holding, and Middlesex University Dubai. It also owns the property assets of the North London Collegiate School in Dubai.