Dubai's Abraaj exits Philippines hospital

  • Share via facebook
  • Tweet this
  • Bookmark and Share

Dubai-based emerging markets investor Abraaj Group has exited its investment in a tertiary medical hospital based in the Philippines.

Abraaj, via one of its funds, invested in the Daniel O Mercado Medical Centre (DMMC) in September 2010 as the only institutional investor alongside the Mercado family. Since then the hospital has built a new wing and increased patient numbers by 19.5 percent in 2012.

Abraaj’s exit was via a buy-back agreement with the Mercado family, although it did not provide financial details of the transaction.

“This was an attractive investment opportunity for us to make in a growing sector where demand for beds far outweighed supply, with the potential to support a highly experienced management team and scale a well-established, multi-credited hospital,” commented Danny Lizares, Philippines managing director, Abraaj.

“We succeeded in our aim to further facilitate the provision of quality healthcare for the mass market, offering state-of-the-art medical services at competitive prices.”

Abraaj’s other current investments in South-East Asia include Philippines-based fast-food chain Pancake House and beauty products retailer HBC. Other investments in the region include Vejthani Hospital and IHH Healthcare.

Join the Discussion

Disclaimer:The view expressed here by our readers are not necessarily shared by Arabian Business, its employees, sponsors or its advertisers.

Please post responsibly. Commenter Rules

  • No comments yet, be the first!

All comments are subject to approval before appearing

Further reading

Features & Analysis
Bahrain's Islamic finesse

Bahrain's Islamic finesse

Islamic finance assets are worth around $2bn globally, according...

Big new-issue premium for Bahrain bond is ill omen for Gulf

Big new-issue premium for Bahrain bond is ill omen for Gulf

Signals grow that Gulf borrowers will have to pay a lot more...

Beating state debt addiction proves hard for UAE banks

Beating state debt addiction proves hard for UAE banks

Banks' exposure to the public sector as a percentage of capital...

Most Discussed