NMC Health says it now owns 100% of Fakih IVF after completing share purchase deal
UAE-based healthcare giant NMC Health has announced the completion of its takeover of a major player in the Middle East in-vitro fertilisation (IVF) market.
Fakih IVF, which comprises of Fakih IVF and Fakih IVF Fertility Centre, is a regional leader for IVF services, performing over 4,000 IVF cycles per year.
NMC, which operates across 13 countries, said it has acquired the outstanding 49 percent minority stake in Fakih IVF as of January 28.
As part consideration for the acquisition, a total of 3,533,857 new ordinary shares of 10 pence each fully paid in the company (the “Consideration Shares”), have been issued, NMC added in a statement.
NMC Health initially announced a deal to acquire a 51 percent stake in Fakih IVF Group for AED696 million ($189 million) in 2015.